Kanabo Group PLC New Partnership Agreement (2775O)
07 Octubre 2021 - 01:00AM
UK Regulatory
TIDMKNB
RNS Number : 2775O
Kanabo Group PLC
07 October 2021
Kanabo Group Plc
("Kanabo" or "the Company")
New Partnership Agreement
New development and distribution partnership with the Medocann
Group
Kanabo Group Plc (LSE:KNB), a medical cannabis R&D Company
that focuses on the distribution of cannabis-derived products for
medical patients, and non-THC products for CBD consumers, announces
it has signed an partnership agreement with MedoCann Pharma Ltd.
("Medocann") for the development of unique new products with
exclusive distribution rights into the German and UK medical
cannabis markets.
Medocann is an established producer of medical-grade cannabis
products with an indoor hydroponic facility located in central
Israel and a library of proprietary cannabis genetics all grown in
a fully controlled environment, without the use of pesticides or
insecticides. Medocann has an IMC GAP license for commercial
propagation and commercial cultivation and is currently selling
their premium products in Israel.
The partnership agreement between Kanabo and Medocann will focus
on the co-development of new and novel strains from flowers and
extracts made for specific medical indications through the
combination of Kanabo's preclinical data on the effect of cannabis
on different illnesses and Medocann's genetics bank, breeding and
strain development expertise. The new strains and extracts will be
used to launch new co-developed medical cannabis products
("Co-Developed Products").
The agreement includes the exclusive rights to distribute the
Co-Developed Products into both the UK and German medical cannabis
markets. The agreement stipulates that Medocann and Kanabo will use
commercially reasonable efforts to have the Co-Developed Products
available for sale in the target markets, based on 1,000kg of
cannabis raw material over the first three years of the agreement,
conditional on the existence of all required import and export
regulatory documents.
The price at which Co-Branded Products will be sold, which will
in any event be at least the then-current premium market price,
which as of the date of the agreement is estimated at EUR 9.00
(Nine Euros) per gram.
Asaf Sella, CEO Medocann commented: "The genetics and the
technology used to cultivate medical cannabis make a huge
difference in the safety, the quality and the consistency of the
medicine patients receive. We are delighted to partner with Kanabo,
together we will develop new strains to treat specific indications
and provide premium medical cannabis products, all originating in
Medocann's indoor, hi-tech facility."
Avihu Tamir, CEO Kanabo added: "Medocann's hydroponic,
precisely-grown cannabis is considered the best in Israel and is
the only one cultivated without the use of Pesticides. Kanabo aims
to bring these unique strains to patients in the UK and German
markets through the Materia Malta production facility."
Kanabo Group Plc
Meirav Horn Via Vox Markets
Peterhouse Capital Ltd
Eran Zucker / Guy Miller (Financial Tel: +44 (0)20 7469 0930
Adviser)
Lucy Williams / Charles Goodfellow Tel: +44 (0)20 7469 0930
(Corporate Broker)
Vox Markets (Investor Relations)
Kat Perez KanaboGroup@voxmarkets.co.uk
About Kanabo Group Plc
Kanabo Group Plc is an R&D company currently selling a range
of THC-Free Retail CBD Products in the Primary Markets and is in
the process of developing further Medical Cannabis Products. The
company's core strategy is to increase revenues from the sale of
its Retail CBD Products in the wellness sector and to grow the
Kanabo brand through its marketing initiatives.
Learn more here:
https://www.voxmarkets.co.uk/listings/LON/KNB/
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END
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