Thrive Cannabis Signs International Supply Agreement For CA$1.5M

Cannabis concentrates manufacturer Thrive Cannabis has inked a supply deal with an unnamed cannabis producer overseas.

The agreement binds the Toronto-based company to provide orders of more than 500 kilograms of premium dried flower, generating around CA$1.5 million.

In addition, the company noted it has obtained the Health Canada Export License as well as an import permit from the receiving country.

Geoff Hoover, the company's CEO, called the deal an "excellent, high-volume global supply opportunity" for Thrive.

The partnership allows Thrive to "move to other formats and introduce our brands in abroad going forward," continued Hoover.

"Only a handful of Canadian producers have so far successfully exported cannabis to International markets, and it is with great pride that we can now count Thrive among them," he said.

The company estimates its cannabis shipments would supply nearly half of the receiving country's medical cannabis patients.

Thrive, which recently designed a portfolio of Greybeard and Being brand products, received Health Canada's approval to sell cannabis extract products last month.

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