Expands License Agreement with Dutch Licensor to Include SA
This Just Announced Today:
Bedrocan Expands License Agreement with Dutch Licensor to Include South America
New Revenue Opportunity and Next Step to Creating a Global Medicinal Cannabis Brand
TORONTO, Dec. 18, 2014 /CNW/ - Bedrocan Cannabis Corp. (TSXV: BED) ("Bedrocan" or the "Company") announced today the expansion of certain rights related to its exclusive license and distribution agreement with its Dutch licensor, Bedrocan BV. The amended agreement now provides Bedrocan with the right to sub-license the commercial use of Bedrocan BV's genetically-identical products, strains and proprietary production techniques in South America. The amended agreement provides for any revenues generated via Bedrocan's sub-licenses to be shared equally between Bedrocan and Bedrocan BV.
"I am delighted to have concluded this agreement with our partner, as it opens up new markets that provide Bedrocan with new potential long-term revenue sources. This represents the next step in our business strategy to establish Bedrocan, in cooperation with our Dutch partner, as a global brand in medicinal cannabis," said Marc Wayne, President and CEO of Bedrocan. "We can now initiate discussions with interested sub-licensing partners in South America, for the rights to gain access to our production techniques, growing expertise, and Bedrocan's level of product quality, standardization and production yield."