- CannaPharmaRx ( OTCPK:CPMD ) signed an agreement with Israeli company Spring Medical Group for commercial cannabis.
- Under the agreement CannaPharmaRx will cultivate commercial cannabis at its Cremona Facility in Canada and Spring will buy the product for international distribution.
- The contract is for three years and allows Spring the right to buy up to 3,000 kg of the product, CannaPharmaRx said in an Aug. 24 press release.
- Production and delivery is expected to begin in 2022.
- CannaPharmaRx noted that after the contract is fulfilled to its maximum value, revenue will be between $8M and $12M, subject to quantity and order timing discounts.
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CannaPharmaRx inks cannabis supply contract with Israel's Spring Medical