CALGARY, AB / ACCESSWIRE / March 30, 2023 / CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today that it has signed a Supply Agreement with Israeli company Y.S.A Holdings (“YSA”). The business arrangement sets forth a supply agreement between the two companies.
Under the terms of the agreement, CannaPharmaRx will cultivate commercial cannabis at its Facility in Canada and supply YSA Group material for the sole purpose of selling finished product in Israel and Morocco. The agreement shall initially be for 24 months and automatically renews for periods of 24 months each.
YSA will buy from CannaPharmaRX a minimum of 400kg of Material per annum per each country comprising the Territory during the Term. It is anticipated that purchase orders will be between 400kg and 1000kg and occur as often as four times annually. Deliveries are anticipated to begin in Q3 quarter. Anticipated Revenues can be between $6 – $15 million on a yearly basis depending on quantity and timing.
“In accordance with the company’s model, we are building an international brand for our product. For this agreement, the brand will contain up to fifteen strains from the large pool of CannapharmaRX’s exclusive inventory. This is an important agreement for us as YSA’s CEO has significant experience in this industry and specifically in the international marketplace. Until recently he was the CEO of Teva Adir, one of the original and leading cannabis companies in Israel and currently advises the Moroccan government on the regulation issues required to market cannabis in the field. We continue to grow our customers and distribution across the globe,” stated Nick Colvin, CEO of CannaPharmaRx.
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.
