After delivering for the ‘penny to dollar’ stockholder in North America, serial entrepreneur David Stadnyk is looking to replicate in London.
The former President & CEO of $350m Canadian business The Supreme Cannabis Company, David Stadnyk, has launched a new cannabis investment vehicle in London; World High Life (WHL). Listed on the junior NEX Exchange WHL joins the growing band of North American companies looking to move into the U.K. and European markets.
‘Kicking The Tyres’
In an interview with Proactive Investors, he outlines his vision for the business. He says: “We were looking around for the best place to start a medical cannabis company and came to London. A lot of our investors are from North America; it (cannabis) was the U.S., then Canada and we think it will be the U.K. next.”
He said WHL is an investment company looking to take stakes in CBD, hemp or medical cannabis businesses, which will ‘stick within the laws of the U.K.’ and will have ‘nothing to do with the recreational market’.
He said it is currently looking at acquisitions; ‘kicking tyres’ he called it, and it will be making some moves shortly. “We are looking at impact companies, not fringe players. We are talking to biggest and the best and will be making announcements in the next few months.”
‘Biggest’ Cannabis Firm In The World
He believes that such are the opportunities on offer in Europe that within five years he can make WHL the ‘biggest CBD and medical cannabis business in the world’.
WHL raised £2.4 million to secure its listing on the NEX, and prepare for growth, and is in the process of raising a further £7m, ‘just like Supreme’ said Mr Stadnyk.
He believes that within two years it will be listed on the London Stock Exchange and be ‘one of the biggest cannabis companies in the U.K. and Europe’. He said the Supreme cannabis company went from a ‘penny to a dollar stock’, something which met the approval of investors and he is looking to do the same in the U.K.
In a press release, he said: “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.” Mr Stadnyk is the former owner of the Vancouver Whitecaps soccer club and is a co-founder of the TSN 1040 Sports Radio Station in Vancouver.