- Eve & Co (EVE) subsidiary, Natural MedCo, has signed a cannabis supply agreement with medical marijuana distributor, PharmaDrug (BUZZ)
- PharmaDrug will buy between 250 to 500 kilograms of cannabis flower from Natural MedCo, and import it into Germany
- Eve & Co already has EU-GMP certification from Germany, which will assist in registering the product for import
- Eve & Co (EVE) is up 7.14 per cent and is currently trading at C$0.075 per share
- PharmaDrug (BUZZ) remains unchanged and is currently trading at four cents per share
Eve & Co (EVE) subsidiary, Natural MedCo, has signed a cannabis supply agreement with medical marijuana distributor, PharmaDrug (BUZZ).
The supply agreement was specifically for bulk amounts of Natural MedCo’s finished EU-GMP medical cannabis.
PharmaDrug has been experiencing higher-than-experienced demand for medical cannabis in the German market. However, meeting this demand has been complicated by ongoing supply chain issues, according to PharmaDrug’s CEO, Daniel Cohen.
Under the agreement, Natural MedCo will sell 250 to 500 kilograms of cannabis flower to PharmaDrug on a bulk basis. PharmaDrug will import the flower into Germany, where the company will package and sell it under its own in-house brand.
Eve & Co and Natural MedCo number in the rare few Canadian cultivators which have achieved EU-GMP certification from Germany. This will come in handy when PharmaDrug registers the product for import during the next couple of months.
The companies expect that shipments should start being received in the final quarter of 2020.
Eve & Co’s CEO, Melinda Rombouts, said that the company is very pleased to enter the agreement with PharmaDrug.
“We are impressed with their leadership, established sales and strong distribution network throughout Germany, and look forward to working with PharmaDrug as both our companies grow into the German market,” she said.
If all goes well, Eve & Co and PharmaDrug may potentially expand their current supply agreement in the future. The expansion would cover more strains and larger volumes of the medical cannabis.
Eve & Co (EVE) is up 7.14 per cent and is trading at C$0.075 per share at 12:43pm EDT.
PharmaDrug (BUZZ) remains unchanged and is trading at four per share at 12:10pm EDT.