- 1CM (EPIC) announced that it has signed a Business Collaboration Agreement with Herbidus Formulations Pvt Ltd. (the Trost)
- The scope of collaboration includes licensing 1CM’s brands to the Trost for its manufacturing of Cannabis Ayurvedic Herbal Cigarettes
- The Trost is an Indian domiciled company focusing on manufacturing and sales of ayurvedic medical cannabis
- 1CM is a multi-jurisdictional, multidimensional cannabis company
- 1CM Inc. (EPIC) opened trading at C$1.43 per share
1CM (EPIC) announced that it has signed a Business Collaboration Agreement with Herbidus Formulations Pvt Ltd. (the Trost).
The scope of collaboration includes licensing 1CM’s brands to the Trost for its manufacturing of Cannabis Ayurvedic Herbal Cigarettes. It also includes the establishment of 2 Ayurvedic Medicine Flagship Clinics.
About The Trost
The Trost is an Indian domiciled company focusing on manufacturing and sales of ayurvedic medical cannabis. The company currently sells its products on its website.
The Trost purchases all cannabis flower from the Government of Uttar Pradesh, Department of Excise (Abkari). It is licensed by Ministry of Ayush, Government of India. The Trost currently has a quota. It allows the Trost to purchase up to 16,000kg of Cannabis flower leaf annually directly from the government for manufacturing into pre-rolls.
The cannabis flower leaf is processed by maintaining the full profile of the plant. It is permitted to contain naturally occurring amounts of THC, CBD, CBN and CBG.
1CM reported that if Trost can achieve the milestones set out in the Business Collaboration Agreement, and pending all regulatory approval, 1CM will have the ability to purchase the Trost based on a predetermined valuation formula not to exceed an enterprise value of Rs 50,00,00,000 (Approximately. CAD $8,337,815).
1CM Inc. intends to provide its expertise to develop its cannabis stream and distribution in India. This new enterprise provides 1CM the entry into India with an existing domestic licensed ayurvedic medicine cannabis operator.
About 1CM Inc.
1CM is a multi-jurisdictional, multidimensional cannabis company. It focuses on its retail customers and technology to democratize cannabis markets.
Its vision is to be a leading cannabis company globally with solutions that add value to consumers and companies. The company is focusing on expanding its current operations through organic growth and by way of merger and acquisition transactions.
1CM Inc. (EPIC) opened trading at C$1.43 per share.
