Mera Cannabis Corp. secures cannabis supply agreement with HM HerbaMedica GMBH
The company has already signed a letter of intent with Malta Enterprise to initiate the development of a medical cannabis production facility in Malta as a primary entry point into European medical cannabis markets
21 September 2019, 7:00am
by Staff Reporter
by Staff Reporter
Mera Cannabis Corp. has entered into a binding and non-exclusive supply agreement with HM HerbaMedica GMBH, situated in Berlin, Germany, under which HerbaMedica has agreed to purchase up to 600kg of dried cannabis per year from Mera for a term of two years, subject to certain increase rights.
As part of Mera’s international development strategy, its flagship facility in St. Thomas, Ontario has been designed to adhere to EU-GMP standards.
As a result, Mera expects the majority of its outputs from its domestic facilities to be sold to growing international medical markets.
With a population of over 83 million and wide-spread statutory health insurance, Germany is poised to be a European powerhouse for medical cannabis.
Mera CEO Zubin Jasavala said that with partners like HerbaMedica, Mera has the opportunity to capitalise on its experience and insights acquired through domestic operations and utilise that knowledge in the EU.
David Höhne, Chief Executive Officer of HerbaMedica, said they were excited to be one of the few businesses working with Canadian producers to bring Canadian medical cannabis products into Germany.
“Mera not only provides access to high quality product, but a long-term strategy for growth in the medical market in Germany and across Europe,” he said.
About Mera Cannabis Corp.
Mera is focused on producing consumer-driven, high-value cannabis products at its EU-GMP built cultivation and processing facility in St Thomas, Ontario.
It has two additional facilities currently under Health Canada licensing review in St. Thomas and Kingsville, Ontario (up to 1.2million sq.ft of greenhouse cultivation), where the Company’s efforts are focused on medical cannabis product innovation.
Additionally, through its wholly-owned subsidiary, Mera operates CannaWay Clinic, a national network of clinics specialising in cannabis treatment programmes.
Mera has also signed a letter of intent with Malta Enterprise to initiate the development of a medical cannabis production facility in Malta as a primary entry point into European medical cannabis markets.
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