- Cann Group (CAN) has entered two new supply agreements for the export of medicinal cannabis products and dried flowers into the U.K. and Europe
- The first agreement is with Astral Health and will see the company’s formulated oils deployed into the United Kingdom
- This agreement covers multiple years and can be extended
- The second agreement is with German iuvo Therapeutics, and will concern the supply of medicinal cannabis oil formulations and dried flower material in Germany and other European countries
- This agreement is for a three-year period and can also be extended
- Supply for both agreements will begin when all relevant regulatory approvals are received
- Cann is up a healthy 13 per cent and shares are currently trading for $1.18 each
Cann Group (CAN) has entered two new supply agreements for the export of medicinal cannabis products and dried flowers into the U.K. and Europe.
The first supply agreement has been inked with Astral Health, a U.K.-based importer and distributor of medicinal cannabis products.
Astral Health is a subsidiary of LYPHE Group, a European leader in medicinal cannabis solutions.
This agreement covers multiple years and can be extended.
Cann will supply a range of formulated oils, such as those with high CBD and THC, and additional products can be developed and deployed to Astral Health as part of the agreement.
“As the number of healthcare professionals prescribing and patients receiving medical cannabis in the U.K. increases rapidly, it’s fantastic to see the options of high-quality pharmaceutical products becoming available,” LYPHE Group CEO Dean Friday said.
Supply under this agreement will begin when all relevant regulatory approval are received from all Australian and U.K. authorities.
The second agreement has been made with German iuvo Therapeutics GmbH for the supply of medicinal cannabis oil formulations and dried flower material in Germany and other European countries.
iuvo Therapeutics GmbH is a leading importer and distributor with access to over 20,000 pharmacies throughout Germany.
This agreement is for a three-year period and this can also be extended, and as with the agreement with Astral Health, supply will begin when all relevant regulatory approvals are received.
“Cann and iuvo will work together to set new reliable cannabinoid therapy standards with full-spectrum extracts, and a clear objective to improve current levels of efficacy and patient safety,” iuvo Managing Director Jakob Herrenberger said.
Cann CEO Peter Crock is happy with the agreements.
“These agreements represent important progress as we execute on our strategy to be a producer of choice for both the Australian domestic market and markets elsewhere,” Peter said.
“We have been able to demonstrate an ability to supply a broad range of products from specific medicinal cannabis cultivars to unique finished product formulations that meet our customers’ specific end-market requirements,” he added.
Cann is up a healthy 13 per cent and shares are trading for $1.18 each at 2:11 pm AEST.