Zenabis Global (OTCMKTS:ZBISF) has announced the assigning of its term sheet with Farmako GmBH for the supply of medical cannabis to German to its subsidiary ZenPharm’s.
The term sheet is for supplying EU Good Manufacturing Practices certified medical marijuana, and it has also amended the terms for the provision of a minimum volume guarantee. The company has also announced that it has received a sales license amendment from Health Canada for Zenabis Sterllaton.
Zenabis announced term sheet with Farmako in April last year
The company announced a term sheet with Farmako on April 29 last year for medicinal marijuana supply to Germany. It has assigned the term sheet to ZenPharm, its Malta-based subsidiary, to process EU GMP compliant cannabis from Zenabis and supply it to Farmako. The subsidiary is expected to supply at least 500 kg/year for three years.
However, this will be subject to ZenPharm obtaining EU GMP certification that it expects in the third quarter of this year. The company expects to commence shipment to Farmako in the fourth quarter with the supply of cannabis oils expected to begin in 2020.
Zenabis to increase supply in Europe as from Q4 2020
Zenabis CEO, Kevin Coft indicated that the company’s assignment of the term sheet and the provision of additional minimum volume reinforce the company’s impetus internationally. The CEO added that partnerships with main distributors such as Farmako are important as to will enhance accessibility go medicinal marijuana products to patients. Zenabis is anticipating to increase supply across Europe in Q4 2020.
Katrin Eckmans, the CEO of Farmako, stated that after visiting the Zenabis facility in Canada at the end of last year, he was impressed. Eckmans said that they had visited several facilities, and the Zenabis facility stood out with high professional standards and quality throughout the company even when it was operating on a large scale. The CEO added that the cannabis growing approach of Zenabis plus the Natrix Science’s innovative experience with pharmaceutical products was a perfect interplay to offer a wide range of high premium medicinal cannabis products.
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