VANCOUVER, British Columbia, Sept. 07, 2018 (GLOBE NEWSWIRE) -- Auxly Cannabis Group Inc. (TSX.V - XLY) (OTCQX - CBWTF) ("Auxly" or the "Company") is pleased to announce that further to its previously announced interim supply agreement on January 17th, 2018, the Company, through its wholly owned subsidiary Dosecann Inc. (“Dosecann”), has entered into a definitive supply agreement (the “Agreement”) with Aphria Inc. (“Aphria”). Pursuant to the Agreement, Dosecann will have the option to purchase cannabis, including dried flower and cannabis oil (collectively, “Cannabis Products”) for distribution to certain international markets, including Mexico, Portugal, and Serbia, as well as a limited amount for distribution into the Canadian market.
Subject to Aphria receiving the necessary regulatory approvals for expansion of its cultivation facilities, Dosecann will have the option to purchase up to 20,000 kilograms of Cannabis Products on an annual basis, until such time, Dosecann will have the option to purchase up to 100 kilograms of Cannabis Products on a monthly basis. The Agreement extends until January 31st, 2022 and may be renewed for additional 12-month terms. The Agreement also includes certain minimum quantities of Cannabis Products that must be purchased by Dosecann during the term.
Hugo Alves, President and Director of Auxly stated: “We are pleased to have reached a definitive supply agreement with Aphria, an industry leading operator, to supply our international distribution channels which represent an increasingly important market segment to us. This agreement serves as a key source of interim supply that bridges the gap between now and when the bulk of our streaming partners come online. We look forward to working and building a meaningful strategic relationship with the team at Aphria.” . |
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