AgraFlora’s Subsidiary Farmako Obtains Additional EU-GMP Cannabis for Distribution in Germany
VANCOUVER, British Columbia, Sept. 17, 2020 (GLOBE NEWSWIRE) -- AgraFlora Organics International Inc. (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF) is pleased to announce that on September 9, 2020, its wholly owned subsidiary Farmako GmbH (“Farmako”) has entered into a binding distribution
agreement (the “Distribution Agreement”) with Adjupharm GmbH (“Adjupharm”), the German subsidiary of IM Cannabis Corp. (“IMC”) (CSE:IMCC).
Under the Distribution Agreement, Adjupharm will supply EU-GMP medical cannabis flower to Farmako for distribution to medical cannabis patients in Germany over a 3 year term. Farmako will distribute the products in Germany under the IMC brand to its established network of German pharmacies. The Distribution Agreement is expected to launch with first products in October 2020.
The products provided by Adjupharm and distributed by Farmako include initially high potency THC flower. The portfolio is expected to be enhanced throughout Q1 2021 by balanced THC and CBD flower as well as CBD dominant flower.
Farmako CEO Katrin Eckmans stated: “We believe that Adjupharm’s IMC branded cannabis is a great fit for our product portfolio. Our goal is to provide a comprehensive and sustainable portfolio of high quality medical cannabis products, including both flower and ‘2.0’ ingestible products to patients in Germany. We believe Farmako’s established pharmacy network combined with IMC’s quality and manufacturing excellence will be a disruptive force in Germany’s rapidly evolving medical cannabis market.”
In addition to the IMC branded cannabis produced and procured by this Distribution Agreement, Farmako intends to launch additional in-house and third party branded medical cannabis products over the balance of 2020.
About AgraFlora Organics International Inc.
AgraFlora Organics International Inc. is a leading cannabis company building shareholder value through the development of revenue generating operating assets in the global cannabis industry. AgraFlora is focused primarily on the Canadian cannabis industry; the world’s most advanced and regulated legal cannabis market. Flagship Canadian assets include: Edibles & Infusions, a fully automated manufacturing facility in Winnipeg, MB for white-label and consumer branded edible production; Propagation Services Canada, a large-scale commercial greenhouse in Delta, BC focused on reshaping the Canadian flower market with high-potency, low cost cannabis flower, and AAA Heidelberg, a craft focused cannabis producer in London, ON. In addition, AgraFlora’s wholly owned subsidiary Farmako GmbH is scaling towards its goal of being Europe’s leading distributor of medical cannabis. Farmako currently has active distribution operations in Germany and expects to commence active operations in the United Kingdom in 2020. For more information please visit: https://agraflora.com/.