logo-loader
viewEuroLife Brands

EuroLife Brands hires JJ WOLF Investments to help gain foothold in premium CBD markets in Europe

WOLF manages a portfolio of growth-oriented investments, most of which are focused on cannabis and tertiary industry segments

EuroLife Brands -
Canaccord recently said that the pan-European CBD/wellness industry was estimated to generate revenue of between €750 million and €1.0 billion for 2018 and 2019

EuroLife Brands Inc (CSE:EURO) (OTCMKTS:CANVF) revealed on Wednesday that it had hired merchant bank and advisory group JJ WOLF Investments Ltd to help it advance the cannabis-focused firm's activity in Europe. 

In a statement, the Vancouver-based company also said Steve Loutskou had resigned as chief operating officer (COO), secretary and director to take up a strategic advisory position in the company to streamline efficiencies.

READ: EuroLife Brands exploring new opportunities to expand its CBD business globally

"Having just returned from an extensive European due diligence trip and investor roadshow on behalf of EuroLife, I remain steadfast in my belief that the vast opportunity presented by the continental European HEMP-CBD market is truly still in its infancy," said Derek Ivany, the chairman of EuroLife's advisory board.

"Along with starting to introduce the company to various European institutional and retail investors, we continued investigation of a variety of both upstream and downstream M&A opportunities that could prove highly strategic to the continued evolution of the EuroLife enterprise."

In Europe, the firm particularly wants to establish itself in the burgeoning HEMP-CBD segment of consumer packaged goods.

WOLF manages a portfolio of growth-oriented investments, most of which are focused on cannabis and tertiary industry segments, and it has been involved in several successful transactions for companies in the cannabis-hemp industry.

Ivany highlighted that Canaccord had recently said that the pan-European CBD/wellness industry was estimated to be generating revenue of between €750 million and €1.0 billion for 2018 and 2019.

"As industry consolidation and normalization continues to take hold across the globe, we remain confident in the continued growth prospects that Europe has to offer," he said.

On Loutskou's new role, the firm added: "We see this as a natural progression for Mr. Loutskou's role at EuroLife as we align resource allocations to focus solely on the European markets."

Shares gained 6.67% to stand at C$0.080 each.

---Updates for share price---

Contact the author at [email protected]

Quick facts: EuroLife Brands

Price: 0.05 CAD

CSE:EURO
Market: CSE
Market Cap: $10.18 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of EuroLife Brands named herein, including the promotion by the Company of EuroLife Brands in any Content on the Site, the Company receives from...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Buds & Duds: Cannabis stocks reverse; Nabis Holdings jumps after securing...

The North American Marijuana Index, lost 1.5% to 136 points. The OTCQX Cannabis Index dipped 1.4% to 504 points. Buds today were Nabis Holdings Inc (CSE:NAB) (OTCMKTS:NABIF), EuroLife Brands Inc (CSE:EURO) (OTCMKTS:CANVF). Duds were HEXO Corp (TSE:HEXO)...

on 16/10/19

2 min read