INDIVA Limited Signs Exclusive Supply Agreement with Swiss Cannabis Producer
LONDON, ONTARIO–(Marketwired – Dec. 21, 2017) -
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
INDIVA Limited (“Indiva” or the “Company) (TSX VENTURE:NDVA) is pleased to announce that it has entered into a strategic cooperation agreement (the “Agreement“) with Medropharm GmbH and Greenfields Health Care S.A. (together, the “Licensors“) with respect to the exclusive supply by the Licensors of multiple premium cannabis strains for cultivation and sale by Indiva in Canada.
Pursuant to the Agreement, the Licensors have granted Indiva the exclusive Canadian rights to import, cultivate and sell three high-CBD low-THC strains of cannabis. In addition to the exclusive supply of premium cannabis genetics, the Licensor will also identify to Indiva the chemical composition and treatment uses of each strain supplied under the Agreement and provide cultivation guidance from time to time.
Subject to applicable regulatory approvals, Indiva expects that the premium cannabis strains will begin to be supplied under the Agreement in early 2018.
Niel Marotta, CEO of Indiva, commented: “Through our relationship with Medropharm and Greenfields, we not only gain access to certain in-demand high-CBD cannabis strains we will also benefit from their extensive research and innovation.”
Medropharm GmbH specialises in the extraction, production and marketing of pharmaceutical grade cannabinoids and cannabinoid-containing products that make an active contribution to the preservation of health and quality of life.
Greenfields is recognized as a pioneering company in the study and development of phyto-cannabinoid solutions for individuals with complex pathologies.
INDIVA is a Canadian supplier of high quality, medical grade cannabis. INDIVA’s strain selection, cultivation and client care processes combine the know-how and experience of an internationally recognized and award-winning grow-team with GMP-compliant quality assurance standard operating procedures.
INDIVA’s wholly owned subsidiary is a Licensed Producer under Canada’s Access to Cannabis for Medical Purposes Regulation (“ACMPR“) with its first indoor cannabis production facility located in London, Ontario.
INDIVA aims to become a global marijuana brand recognized for high quality cannabis products and excellent client care. As marijuana laws liberalize in Canada, INDIVA will expand its product offering to include safe edibles and other client-friendly cannabis products. In addition, as marijuana laws liberalize internationally, INDIVA will use its Canadian operations as a platform to open new markets for its cannabis products. See www.INDIVA.ca for more information on INDIVA.
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Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the parties’ current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially. In particular, this release contains forward-looking information relating to the acquisition of genetics under the Agreement, the potential use of such genetics to produce and sell cannabis, and regulatory approvals relating to the transactions contemplated by the Agreement. The business of the Company is subject to a number of material risks and uncertainties. Please refer to the Company’s SEDAR filings for further details. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the parties. The material factors and assumptions include the parties being able to obtain the necessary corporate, regulatory and other third parties approvals, and licensing and other risks associated with regulated ACMPR entities. The forward looking information contained in this release is made as of the date hereof and the parties are not obligated to update or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward looking information. The foregoing statements expressly qualify any forward-looking information contained herein.
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