Kanabo Group PLC Medicinal Cannabis Production Agreement (5610R)
March 09 2021 - 1:00AM
UK Regulatory
TIDMKNB
RNS Number : 5610R
Kanabo Group PLC
09 March 2021
9 March 2021
Kanabo Group Plc
("Kanabo" or "The Company")
Medicinal Cannabis Production Agreement
Kanabo Group Plc (LSE:KNB), is pleased to announce that it has
signed a production and supply agreement with PharmaCann Polska
("PharmaCann") under which PharmaCann will supply cartridges
containing Kanabo's proprietary medicinal cannabis formulations for
its VapePod inhalation device. The cartridges will be filled and
prepared at PharmaCann's wholly owned facility in North Macedonia.
This is a second key agreement directed towards establishing a
European medicinal cannabis supply chain and builds on the previous
announcement of a UK distribution agreement. Kanabo's CBD Wellness
products are already being produced and distributed in the primary
markets of UK and Germany.
PharmaCann, based in Warsaw, is a part of the PHCANN
International Group. Its fully licensed compound in Skopje, North
Macedonia comprises both an indoor cultivation facility and an
EU-GMP standard extraction facility for production of products
based on cannabinoids. According to the agreement, PharmaCann and
Kanabo will establish a dedicated production line for medicinal
formulas that will use filling equipment procured and supplied by
Kanabo and Kanabo's production protocols. Under the agreement,
PharmaCann provides an initial production capacity of up to 36,000
cartridges per month with the ability to further increase
production when necessary.
The production and supply agreement gives Kanabo full visibility
and control over product quality from hydroponic, pesticide-free
cultivation through to extraction, filling and distribution of
tamper-proof cartridges designed to work with its medical-grade
VapePod inhalation device.
Avihu Tamir, CEO Kanabo Group Plc said: "Following the increased
fund-raise achieved at the IPO, we are able to accelerate
preparations for supply of medicinal cannabis products in addition
to building our CBD Wellness business. I am delighted to work with
PharmaCann which will enable us to provide medical cannabis vape
products to thousands of patients safely and effectively using our
medical grade VapePod device."
Yuval Soiref, Director of Business Development, PHCANN
International commented: "As part of our expansion strategy, we are
happy to sign this milestone agreement with Kanabo to bring
innovative cannabis products to the UK, and Europe. I believe this
will open a new era of medical delivery methods in the cannabis
industry."
For further information, please visit
http://www.kanabogroup.com/ or contact the following:
Kanabo Group Plc
+(972)52-3173-633
press@kanabogroup.com
Meirav Horn - Chief Financial Officer
Peterhouse Capital Limited (Financial Adviser)
Tel: +44 (0)20 7469 0930
Eran Zucker / Guy Miller / Allie Feuerlein
Peterhouse Capital Limited (Corporate Broker)
Lucy Williams / Charles Goodfellow
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation EU 596/2014 as it forms
part of retained EU law (as defined in the European Union
(Withdrawal) Act 2018).
About PHCANN INTERNATIONAL
PHCANN is a pharmaceutical company that applies global standards
in the production of cannabis-based pharmaceutical extracts and
final pharmaceutical forms. Using the Israeli and Canadian market
experience, their mission is to ensure the availability of products
containing cannabinoids of natural origin while maintaining
strictly controlled pharmaceutical quality and to disseminate
knowledge about its medicinal use.
About Kanabo Group Plc
Kanabo aims to create a new standard in the medical cannabis
industry by building an ecosystem that improves the well-being of
millions around the world by providing an alternative solution to
the smoking of medicinal cannabis flowers. With a focus on the
distribution of cannabis-derived products for medical patients, and
non-THC products for CBD consumers, Kanabo has conducted extensive
Research & Development in order to produce high-quality
cannabis extract formulas, innovative medical-grade vaporizers, and
various non-smoking consumption solutions - making use easy and
accessible for anyone in need of treatment.
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