A cannabis company which has a partnership with the large-scale Houweling Nurseries greenhouse in East Ladner has announced a subsidiary has reached a major deal in Germany.
AgraFlora Organics International Inc. said its wholly-owned subsidiary Farmako GmbH has entered into a binding distribution agreement with Adjupharm GmbH, the German subsidiary of IM Cannabis Corp., to supply medical cannabis flower to Farmako.
Farmako GmbH is a pharmaceutical wholesaler based in Frankfurt.
The distribution agreement for medical cannabis patients in Germany will be over a three-year term.
Farmako will distribute the products in Germany to an established network of pharmacies.
The agreement is expected to launch with its first products in October.
Farmako states it is planning to expand its business model into other European countries, scaling towards its goal of being Europe’s leading distributor of medicinal cannabis.
The company has been distributing medical cannabis to pharmacies in Germany since March of last year and is planning distribution in the UK later this year.
The European cannabis market is projected to reach US$37 billion by 2027.
The Delta greenhouse operation, called Propagation Services Canada, obtained its cultivation licence from Health Canada this May.
The inaugural harvest of high potency THC genetics from the Delta greenhouse complex is expected this year.