RE:AGRA NEWS TODAYSopranos1 wrote: VANCOUVER, British Columbia, Sept. 17, 2020 (GLOBE NEWSWIRE) — AgraFlora Organics International Inc.(“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt:PU31) (OTCPK:AGFAF) is pleased to announce that on September 9, 2020, its wholly owned subsidiary Farmako GmbH (“Farmako”) has entered into a binding distribution agreement (the “Distribution Agreement”) with Adjupharm GmbH (“Adjupharm”), the German subsidiary of IM Cannabis Corp. (“IMC”) (CSE:IMCC).
Under the Distribution Agreement, Adjupharm will supply EU-GMP medical cannabis flower to Farmako for distribution to medical cannabis patients in Germany over a 3 year term. Farmako will distribute the products in Germany under the IMC brand to its established network of German pharmacies. The Distribution Agreement is expected to launch with first products in October 2020.
The products provided by Adjupharm and distributed by Farmako include initially high potency THC flower. The portfolio is expected to be enhanced throughout Q1 2021 by balanced THC and CBD flower as well as CBD dominant flower.
Farmako CEO Katrin Eckmans stated: “We believe that Adjupharm’s IMC branded cannabis is a great fit for our product portfolio. Our goal is to provide a comprehensive and sustainable portfolio of high quality medical cannabis products, including both flower and ‘2.0’ ingestible products to patients in Germany. We believe Farmako’s established pharmacy network combined with IMC’s quality and manufacturing excellence will be a disruptive force in Germany’s rapidly evolving medical cannabis market.”
In addition to the IMC branded cannabis produced and procured by this Distribution Agreement, Farmako intends to launch additional in-house and third party branded medical cannabis products over the balance of 2020.
The first thing I thought after reading this is wouldn't it be nice if we could supply our own Delta weed?? We are purchasing it elsewhere? The delays in obtaining licencing is really costing us. I guess the savings on shipping to Germany helps and also the fact they need it right now and don't have any read we had no choice. Why a 3 year term though? Would like to understand why we continue purchasing weed when we are supposed to have our own large suppy soon.
On the positive side Farmako is doing business and will be generating revenues!
Mayham
Mayham