TSXV:EVE.H - Post by User
Post by
bogdanszon Jul 22, 2020 2:49pm
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Post# 31303481
News (repeat)
News (repeat) | CSE's PharmaDrug in Supply Agreement With TSXV's Eve & Co For Medical Cannabis |
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01:44 PM EDT, 07/22/2020 (MT Newswires) -- PharmaDrug Inc. (BUZZ.CSE) has entered into a supply agreement with Natural MedCo Ltd.(NMC), a Canadian licensed producer of medical cannabis and a wholly-owned subsidiary of Eve & Co Incorporated (EVE.V) for bulk and finished EU-GMP medical cannabis. PharmaDrug will purchase and import into Germany between 250-500 kilograms of cannabis flower on a bulk basis. NMC has already achieved EU-GMP certification from Germany and PharmaDrug will register the product for its import over the next couple of months. The company expects to begin receiving shipments in the final quarter 2020. The flowers will be packaged in Germany and sold under PharmaDrug's own in-house brand. Also, as Pharmadrug continues to develop its business in Germany, management believes it will see significant growth in the next 12 months. The number of pharmacies in its distribution network has more than tripled since the start of the year. However, its supply of Bedrocan has become increasingly scarce and does not meet PharmaDrug's current demand. PharmaDrug plans to achieve critical mass of volumes in Germany by expanding its supply chain with contracts such as the one with Eve & Co and by layering in supply from agreements already signed in Israel and Canada. |