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CannaPharmaRx Signs Collaboration and Offtake Agreement With Spring Medical Group for Up to $12 Million of Commercial Cannabis
CannaPharmaRx Signs Collaboration and Offtake Agreement With Spring Medical Group for Up to $12 Million of Commercial Cannabis
CALGARY, AB / ACCESSWIRE / August 24, 2022 / CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today that it has signed a Memorandum of Understanding (MOU) with Israeli company Spring Medical Group Ltd. and its affiliates in Israel. The agreement sets forth a supply agreement and business collaboration between the two entities.
Under the terms of the agreement CannaPharmaRx will cultivate commercial cannabis at its Cremona Facility in Canada and Spring Medical Group will purchase the product for international distribution. The agreement shall be for three (3) years and allows Spring the right to purchase up to 3,000kg of the product produced by CannaPharmaRx at the Production Facility for the duration of the term. The offtake agreement secures a market and revenue stream for CannapharmaRx and provides future output to Spring at defined price points. Production and delivery is expected to begin during 2022. Upon the contract being fulfilled to its maximum value, revenue will be between $8 - $12 million depending on quantity and order timing discounts.
"As we finalize the beginning of production at the Cremona Facility, we now have customers and distribution across the globe," commented Nick Colvin, CEO of CannaPharmaRx.
About Spring Medical Group
Spring Medical Group is a wholesaler in medicinal products and narcotics, dried prescription drugs, including dried products containing trans-tetrahydrocannabinol (THC) and cannabinoids (so called medical cannabis), as well as mono extracts and full extracts containing trans-tetrahydrocannabinol (THC) and cannabinoids (so called medical cannabis) and other medicinal products and pharmaceutical raw materials for pharmacy prescription in Europe and in Israel. Backed by an experienced and knowledgeable management team and staff, Spring Medical Group is well-positioned to register and distribute cannabis products throughout Israel and Europe.
About CannapharmaRx, Inc.
CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities in Canada. CPMD is in discussion with other companies regarding potential acquisitions. CannapharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.
Safe Harbor Statement
Cautionary Note Regarding Forward-Looking Information or Statements
This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are 'forward-looking information or statements.' Forward-looking information or statements can be identified by the use of words such as 'plans,' 'expects,' or 'does not expect,' 'is expected,' 'estimates,' 'intends,' 'anticipates,' or 'does not anticipate,' or 'believes,' or variations of such words and phrases or statements that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions, including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, events, or developments to be materially different from any future results, events, or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information, or for any other reason except as required by law.
Contact Information:
Brokers and Analysts:
Chesapeake Group
(410) 825-3930
SOURCE: CannaPharmaRx
View source version on accesswire.com:
CALGARY, AB / ACCESSWIRE / August 24, 2022 / CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today that it has signed a Memorandum of Understanding (MOU) with Israeli company Spring Medical Group Ltd. and its affiliates in Israel. The agreement sets forth a supply agreement and business collaboration between the two entities.
卡尔加里,AB/ACCESSWIRE/2022年8月24日CannapharmaRx公司(场外交易代码:CPMD)是超现代、高效大麻生产设施的未来领导者,该公司今天宣布,它已经与以色列公司Spring Medical Group Ltd.及其在以色列的附属公司签署了一份谅解备忘录(MOU)。该协议规定了两个实体之间的供应协议和业务合作。
Under the terms of the agreement CannaPharmaRx will cultivate commercial cannabis at its Cremona Facility in Canada and Spring Medical Group will purchase the product for international distribution. The agreement shall be for three (3) years and allows Spring the right to purchase up to 3,000kg of the product produced by CannaPharmaRx at the Production Facility for the duration of the term. The offtake agreement secures a market and revenue stream for CannapharmaRx and provides future output to Spring at defined price points. Production and delivery is expected to begin during 2022. Upon the contract being fulfilled to its maximum value, revenue will be between $8 - $12 million depending on quantity and order timing discounts.
根据协议条款,CannapharmaRx将在其位于加拿大的Cremona工厂种植商业大麻,Spring Medical Group将购买该产品用于国际分销。该协议的有效期为三(3)年,并允许Spring在有效期内在生产设施购买CannapharmaRx生产的最多3,000公斤产品。承购协议确保了CannapharmaRx的市场和收入来源,并以确定的价格点向Spring提供未来的产量。生产和交付预计将于2022年开始。一旦合同达到最大价值,收入将在800万至1200万美元之间,具体取决于数量和订单时间折扣。
"As we finalize the beginning of production at the Cremona Facility, we now have customers and distribution across the globe," commented Nick Colvin, CEO of CannaPharmaRx.
CannapharmaRx的首席执行官尼克·科尔文说:“当我们最终确定克雷莫纳工厂的生产开始时,我们现在在全球拥有客户和经销。”
About Spring Medical Group
关于春秋医疗集团
Spring Medical Group is a wholesaler in medicinal products and narcotics, dried prescription drugs, including dried products containing trans-tetrahydrocannabinol (THC) and cannabinoids (so called medical cannabis), as well as mono extracts and full extracts containing trans-tetrahydrocannabinol (THC) and cannabinoids (so called medical cannabis) and other medicinal products and pharmaceutical raw materials for pharmacy prescription in Europe and in Israel. Backed by an experienced and knowledgeable management team and staff, Spring Medical Group is well-positioned to register and distribute cannabis products throughout Israel and Europe.
春华医药集团是一家医药产品和麻醉药品、干燥处方药,包括含有反式四氢大麻酚(THC)和大麻素(所谓医用大麻)的干燥产品,以及含有反式四氢大麻酚(THC)和大麻类化合物(所谓医用大麻)的单一提取物和全提取物,以及欧洲和以色列的其他医药产品和制药原料的批发商。在经验丰富、知识渊博的管理团队和员工的支持下,斯普林医疗集团处于有利地位,可以在以色列和欧洲注册和分销大麻产品。
About CannapharmaRx, Inc.
关于CannapharmaRx公司
CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities in Canada. CPMD is in discussion with other companies regarding potential acquisitions. CannapharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.
CannapharmaRx专注于在加拿大收购和开发最先进的大麻种植设施。CPMD正在与其他公司就潜在的收购进行谈判。CannapharmaRx的商业战略是通过开发、收购和增强现有设施,成为高质量和低成本大麻生产的领先者。CannapharmaRx致力于利用最新的热电联产技术运营高质量的设施,以确保成为低成本的大麻生产商。
Safe Harbor Statement
安全港声明
Cautionary Note Regarding Forward-Looking Information or Statements
有关前瞻性信息或陈述的注意事项
This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are 'forward-looking information or statements.' Forward-looking information or statements can be identified by the use of words such as 'plans,' 'expects,' or 'does not expect,' 'is expected,' 'estimates,' 'intends,' 'anticipates,' or 'does not anticipate,' or 'believes,' or variations of such words and phrases or statements that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions, including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, events, or developments to be materially different from any future results, events, or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information, or for any other reason except as required by law.
本新闻稿包含前瞻性信息或陈述。所有属于或不属于历史事实的陈述,包括但不限于关于未来估计、计划、计划、预测、预测、目标、假设、预期或对未来表现的信念的陈述,都是前瞻性信息或陈述。前瞻性信息或陈述可以通过使用“计划”、“预期”、“不预期”、“预计”、“估计”、“打算”、“预期”、“不预期”或“相信”等词语或短语的变体,或某些行动、事件或结果“可能”、“可能”、“将”、“可能”或“将”采取、发生或实现的词语和短语或陈述来识别。关于本文中包含的前瞻性信息和陈述,CannapharmaRx管理层做出了许多假设,其中包括对一般商业和经济状况的假设。此类前瞻性陈述基于假设,涉及已知和未知的风险、不确定性和其他因素,这些风险、不确定性和其他因素可能导致实际结果、事件或发展与此类前瞻性信息或陈述明示或暗示的任何未来结果、事件或发展大相径庭。告诫读者不要过度依赖此类前瞻性信息或陈述。不能保证前瞻性陈述将被证明是准确的,因为实际结果和未来事件可能与前瞻性信息或陈述中预期的大不相同。CannapharmaRx不承担更新任何前瞻性信息或陈述的义务,即使新信息因未来事件、新信息或法律要求以外的任何其他原因而可用。
Contact Information:
Brokers and Analysts:
Chesapeake Group
(410) 825-3930
联系方式:
经纪人和分析师:
切萨皮克集团
(410) 825-3930
SOURCE: CannaPharmaRx
资料来源:大麻药Rx
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