Goldy63 wrote: Gotta wonder if EVE is in the stratigic loop in this deal as the import licence is built in and make shipping to Germany easier ?? ?? . Read on .
- PharmaDrug (CSE: BUZZ) has entered into a supply agreement with a Canadian based multinational cannabis company for EU-GMP certified medical cannabis
- PharmaDrug has already received regulatory approval to distribute the cannabis, and the product has been added to their license
- The flower will be imported into Germany by the global supplier and sold under the supplier's medical cannabis brand
- Management is looking to increase its supply through additional channels of the already approved products while it continued to work on importing its own branded supply
- The selling of marketable securities and the exercising of PharmaDrug warrants have contributed to an increase of cash on the balance sheet, equaling approximately C$3.5 million
- PharmaDrug (BUZZ) is up 5.88 per cent and is trading at C$0.09 at 2:03 pm EST
PharmaDrug (CSE: BUZZ) has entered into a supply agreement with a Canadian based multinational cannabis company for EU-GMP certified medical cannabis.
The supply is already registered and approved for sale in the German market.
PharmaDrug Production GmbH will purchase branded medical cannabis from the supplier's German subsidiary. PharmaDrug has already received regulatory approval to distribute the cannabis, and the product has been added to their license.
The flower will be imported into Germany by the global supplier and sold under the supplier's medical cannabis brand.
PharmaDrug expects to begin receiving shipments of cannabis shortly to commence distribution to its pharmacy network in the current quarter of 2021.
PharmaDrug will be expanding the sales and marketing operations within its German cannabis distribution segment in anticipation of increased inventory.
As previously disclosed, PharmaDrug's primary obstacle to the significant growth of its cannabis distribution business is the lack of supply. Management is looking to increase its supply through additional channels of the already approved products while it continued to work on importing its own branded supply.
PharmaDrug management is confident that the new flower is ideal for the German market's quality requirements. It also expects to distribute the THC extract oils and anticipates being able to access this product in the next two to three months.
Chairman and CEO Daniel Cohen commented, "Carrying a second line of medical cannabis will allow us to significantly increase our sales volumes, revenue, profit margins, and to expand our pharmacy network as we prepare to begin importing our own product."
"Our goal is to be a one-stop-shop for pharmacies seeking medical cannabis. We are also in advanced discussions with emerging extractors within the Eurozone to supply us with a white label product that we can sell under our own brand," concluded Cohen.
PharmaDrug's balance sheet has undergone a significant improvement since it reported its third-quarter numbers.
The selling of marketable securities and the exercising of PharmaDrug warrants have contributed to an increase of cash on the balance sheet, equaling approximately C$3.5 million.
Management believes it has more than enough cash on hand to fund all its activities in 2021.
PharmaDrug is a specialty pharmaceutical company focused on the research, development and commercialization of controlled-substances and natural medicines such as psychedelics, cannabis and naturally-derived approved drugs.
PharmaDrug (BUZZ) is up 5.88 per cent and is trading at C$0.09 at 2:03 pm EST.9Quote , EVE has the supply .(Quote from NR ) As previously disclosed, PharmaDrug's primary obstacle to the significant growth of its cannabis distribution business is the lack of supply. Management is looking to increase its supply through additional channels of the already approved products. (Quote From NR ).
- PharmaDrug has already received regulatory approval to distribute the cannabis, and the product has been added to their license . (Quote ) Melinda . Give your partner a call . Cheers .