Canomed: A sale agreement with a pharmacy in the amount of NIS 3.8 million – the capital market

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The cannabis operator reports that it has signed an agreement with a pharmacy in the Sharon area to supply cannabis products, for a period of 3 years, in the amount of NIS 3.8 million. In addition, the company reports on a series of negotiations for the production, distribution and sale of its products.

According to the company’s announcement, after the signing of the sale agreement, it is in advanced negotiations to sign a supply agreement for another pharmacy, under conditions similar to the current agreement, and with an expected revenue of NIS 4.5 million.

At the same time, it is conducting advanced negotiations with Teva Adir to enter into an agreement for the sale of all medical cannabis products in an area of ​​3.6 dunams at the Masuah breeding farm. As long as an agreement is signed, the total consideration for the company is expected to be about NIS 6 million.

In addition, it is in advanced negotiations to enter into a strategic distribution agreement with a trading house, which will exclusively distribute its products for a period of 3 years. It also works to enter into a binding memorandum of understanding with a local company to cooperate in the export of up to 1 ton of cannabis-based extracts and oils to Europe, with each party being entitled to 50% of total revenues, and to negotiate with the same company for two production agreements. European and Israeli standard.

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