Akanda Strengthens Overseas Presence By Becoming Supplier For European Medical Cannabis Company

Akanda Strengthens Overseas Presence By Becoming Supplier For European Medical Cannabis Company

International medical cannabis platform company Akanda Corp. AKAN has signed a multi-year supply agreement with European medical cannabis company Cansativa GmbH to supply EU-GMP quality THC dried flower strains cultivated from its Portuguese operations at Holigen.

Under the agreement terms, Akanda will supply Cansativa Group with two EU-GMP quality strains of dried THC flower for distribution and sale to all pharmacies in Germany through the Cansativa platform. The contract specifies initial deliveries of a minimum of 1,000 kilograms over the first 12 months, with a right of first refusal to take on additional quantities that could result in the full capacity utilization of Holigen’s 2,000 kilograms per annum indoor production capacity. The initial shipment is anticipated to include up to 250 kilograms of each strain to be supplied no later than the fourth quarter of 2022.

“This supply agreement with Cansativa represents one of the largest supply agreements in the nascent European medical cannabis industry and is certainly Akanda’s most substantial commercial development to date,” stated Tej Virk, CEO of Akanda.

“Our EU GMP certified grow facility in Portugal has both the quality and scalability to meet the increasing demands for medical cannabis in fast-growing markets across the EMEA region, such as Germany. Once made available, our strains will rank among the highest THC level medical cannabis products available in the EU. We're looking forward to a long-term relationship with the Cansativa Group, a professional and collaborative partner who shares our mission to expand access to medical cannabis to improve the quality of lives. The fact that we executed this supply agreement only two months after Akanda closed the acquisition of Holigen shows tremendous partnership and hard work on both sides,” continued Virk.

Photo: Benzinga; Sources: courtesy of jarmoluk and lindsayfox via Pixabay

Related News

Benzinga CEO Predicts $1B In Cannabis Deals Closing In Just 2 Days In September: Find Out Where And How!

Akanda To Contest Unauthorized Liquidation Of Its Subsidiary, Bophelo Bio Science & Wellness

Akanda To Supply Tetra Bio-Pharma With Cannabis For FDA Trials Of Cancer-Pain Drug

Posted In: Cansativa GmbHTej VirkCannabisNewsPenny StocksMarkets

BENZINGA CANNABIS CONFERENCE

Meet the biggest cannabis industry players and make deals that will push the industry forward.

Featuring live company presentations, insider panels, and unmatched access to networking, the Benzinga Cannabis Capital Conference is where cannabis executives and entrepreneurs meet.

Join us September 13-14, 2022 at The Palmer House in Chicago, IL.