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Press release

11 April 2022

Cellular Goods PLC

('Cellular Goods' or 'the Company')

Update on ingestibles products

Cellular Goods plc (LSE: CBX), a UK-based wellness brand providing premium consumer products based on lab-made cannabinoids, provides the following update on its ingestibles products range.

Since 1 December 2021, the Company has been selling three ingestible products in capsule, drop and spray formats, as disclosed previously. These products are formulated from lab-produced cannabidiol ("CBD"), and not plant extracts, and whose product formulations are manufactured and supplied by Chanelle McCoy Health ("CMH"), a research-led developer of high quality, ultra-pure cannabinoid products.  

Cellular Goods has marketed these products based on the Food Standards Agency ("FSA") product validations received by CMH in early 2021. CMH was one of the first companies to achieve validated status and is included in a list of approved products published by the FSA on 31 March 2022. These products also underwent safety and toxicology studies as evidenced by an extensive and complete data package compiled by CMH which meets the FSA's requirements to receive a validated application for novel foods.

The FSA list as of 31 March 2022 does not include Cellular Goods, however, this is not necessary in order for the products to remain on the market. The Company fulfils FSA guidance as this is not a 'new product' to market and all the FSA required details are clearly stated on the labelling such as product name (Pureis®), legal address, product code and supplier which is the same as that of the validated CMH products featured on the FSA list.

Cellular Goods and its partner CMH welcome the introduction of stricter measures to improve consumer safety concerning novel foods and look forward to working closely with the FSA to ensure compliance with any new rules.

Anna Chokina, chief executive of Cellular Goods, said: "We are fully committed to providing premium quality ingestibles that have a traceable provenance and a data-led safety profile to the British consumer. Of the 3,536 products on the FSA list, the products we are selling are three of only 57 fully validated products."

The Company's 'Look Better' skincare product range remains unaffected by the guidance as the products do not fall under the remit of novel foods.

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About Cellular Goods PLC:

Cellular Goods is a UK-based wellness company that provides premium products based on lab-made cannabinoids. It was established in August 2018 to develop efficacy-led and research-backed cannabinoid-powered wellness products. The initial focus is on three product verticals: Function Better, Feel Better and Look Better. These three verticals encompass Cellular Goods' premium CBG skincare and CBD ingestible and topical athletic recovery products, with the first products launched in December 2021 initially through the Company's website. The Company's shares are listed on the main market of the London Stock Exchange. www.cellular-goods.com