2023-04-19 10:59:07 ET
- CannaPharmaRx ( OTCPK:CPMD ) signed an agreement with Spanish Company Nasha Genetics for a cooperating relationship on cannabis.
- CannaPharmaRx noted that Nasha owns intellectual property involved in certain genetics of cannabis strains and as Nasha expands export operations outside Israel and into Europe, Thailand and the U.S. it will partner with CannaPharmaRx.
- CannaPharmaRx said it will start the process of getting licenses and approvals required to export medical cannabis grown in its facility, subject to Nasha placing purchase orders in a quantity of at least 400 KG designated to shipment to locations other than Israel.
- Under the agreement, Nasha will supply the Genetics, which would likely generate THC rich varieties, at least 20% THC, of grade A+ quality cannabis dried flowers.
- CannaPharmaRx will grow cannabis flowers in its facility. The term under the Memorandum of Understanding (MOU) is 7.5 years.
- A definitive agreement related to the MOU is expected to be finalized in 45 days.
For further details see:
CannaPharmaRx, Nasha ink pact for cannabis strains