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Cann Group executes new export supply agreements




ASX ANNOUNCEMENT

26 May 2020

Cann Group executes new export supply agreements


•Multi-year agreement (with option to extend) to supply a range of formulated products to Astral Health in the UK

•Three-year agreement (with option to extend) to supply a range of oils and dried flower to iuvo Therapeutics in Germany and certain other European markets

•Results in higher utilisation of cultivation and manufacturing capacity and reflects continued momentum behind Cann Group’s expanding commercial opportunities


26 May 2020 - Cann Group Limited (ASX: CAN) announced today that it has entered into two new supply agreements involving the export of medicinal cannabis products and dried flower material for sale in UK and European markets. An agreement has been executed with Astral Health Limited, a UK-based specialist importer and distributor of medicinal cannabis products. Astral Health is a subsidiary of LYPHE Group, a European leader in medicinal cannabis solutions across distribution channels, including medicinal cannabis clinics, online pharmacies, and healthcare practitioner training. European medicinal cannabis markets continue to expand, with the UK in March lifting import restrictions that will allow licenced wholesalers to build inventory for future supply needs.

The Astral Health supply agreement is a multi-year agreement with options to extend. Cann Group will supply a range of formulated oils, including high THC, high CBD and a balanced formulation. The agreement provides for additional products to be developed and supplied to Astral Health over time.

LYPHE Group CEO, Dean Friday, said of the partnership: “As the number of healthcare professionals prescribing and patients receiving medical cannabis in the UK increases rapidly, it's fantastic to see the options of high-quality pharmaceutical products becoming available. We are very proud to be working with Cann Group."

Supply under the Astral Health agreement will commence when all relevant regulatory approvals are received from the relevant Australian and UK authorities.

An agreement has also been executed with Germany-based iuvo Therapeutics GmbH for the supply of medicinal cannabis oil formulations and dried flower material for sale within Germany and other European countries. Germany is Europe’s largest medicinal cannabis market with 2019 sales exceeding all other European markets combined.

iuvo Therapeutics GmbH is a leading independent GMP certified importer and distributor, with access to over 20,000 pharmacies throughout Germany. iuvo is a subsidiary of Wundr Co., a pharmaceutical company focused on providing a diversified portfolio of medical cannabis products for European patients.

https://www.listcorp.com/asx/can/cann-group-limited/news/execution-of-export-supply-agreements-2327250.html

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