World High Life Plc (LON:LIFE) said it is assessing investment opportunities in medicinal cannabis, hemp and CBD after it began trading on London’s NEX exchange on Thursday.

The CBD and medicinal cannabis investment vehicle had raised £2.4mln on its admission to trading. The funds will be used to meet general working capital requirements, undertake due diligence on potential target acquisitions and to make investments.

The company said it will explore investments in internationally recognised markets, including the UK and Europe, that have regulation allowing the research and production of medicinal cannabis, hemp and CBD, as well as therapeutic cannabis derivatives such as nutraceuticals, dietary supplements and cosmetic products.

The company said it believes there are “numerous investment opportunities” within the CBD wellness industry, the hemp industry and the medicinal cannabis industry.

“This is an exciting time for the company and for the medical cannabis and CBD sector in Europe, with many forecasting huge growth over the next few years,” said chairman and chief executive, David Stadnyk. 

“I have a strong team around me, many of whom have years’ of experience and much success investing in the cannabis market in North America. We believe that there are numerous investment opportunities here in Europe that will generate great returns for our shareholders, and we look forward to updating the market with our developments.”