From Financialpost · · 1m
Cannara Expands International Cannabis Supply Deal
Cannara Biotech boosts international sales with Curaleaf after expanding supply agreement.
In brief
Cannara Biotech boosts international sales with Curaleaf after expanding supply agreement. Cannara Biotech expanded its international supply agreement with Curaleaf to increase global medical cannabis sales while maintaining Canadian growth. Originally reported by Financialpost.
Cannara Announces Supply Agreement Expansion
Cannara Biotech Inc. expanded its international supply agreement with Curaleaf International Limited.
New Agreement Value and Scope
The amended agreement has a potential aggregate contract value of approximately C$34 million over two years, up from C$21 million.
Cannara's Growth Strategy
Cannara uses Curaleaf's distribution network to grow international sales while supporting Canadian growth.
CEO Statement on Partnership
Zohar Krivorot, Cannara's CEO, highlighted strong relationships and quality cannabis for international medical markets.
“The expansion of our agreement reflects the strong relationship we are building with Curaleaf and the quality of the cannabis we have supplied from our Valleyfield facility”
COO on Production Capacity
Niko Sosiak noted 15 of 24 grow rooms active at Valleyfield with plans to scale production as demand grows.
“This expanded agreement demonstrates our ability to grow within the cultivation infrastructure we already own at Valleyfield, where we now have 15 of our 24 grow rooms active”
EU-GMP Certification Progress
Cannara pursues EU-GMP certification for Valleyfield processing center with Curaleaf supporting international medical markets.
At a glance
Cannara Biotech expanded its international supply agreement with Curaleaf to increase global medical cannabis sales while maintaining Canadian growth.
