Greenlab (Green Relief NZ Ltd trading as Greenlab) based
at Lincoln University is positioning New Zealand at the
forefront of research-driven pharmaceutical-quality cannabis
cultivation and derivative products, is pleased to announce
that its subsidiary, Greenlab Australia Pty Ltd, has entered
into an agreement to supply pharmaceutical-grade,
cannabinoid pharmaceuticals to Cannvalate Pty Ltd, one of
Australia’s largest distributors.
Under the two-year
agreement, Greenlab will supply a range of certified
cannabis products that meet the high-quality standards set
by the Australian Therapeutic Goods Administration (TGA) and
meeting internationally recognized GMP requirements.
Greenlab and Cannvalate will non-exclusively distribute the
products to medical patients approved through the TGA’s
Special Access Scheme, on a consignment
basis.
Approximately $2.4 million of committed revenue
stream (depending on mix of derivative products selected)
expected to be received by Greenlab over the 24-month term
with an option for an extension for an additional year on
the same terms and conditions.
“We are excited to be
working with Cannvalate in Australian market to bring new
formulations and products to the New Zealand market in near
future” said Kevin Edgar, CEO of…
Original Author Link click here to read complete story..
Greenlab (Green Relief NZ Ltd trading as Greenlab) based
at Lincoln University is positioning New Zealand at the
forefront of research-driven pharmaceutical-quality cannabis
cultivation and derivative products, is pleased to announce
that its subsidiary, Greenlab Australia Pty Ltd, has entered
into an agreement to supply pharmaceutical-grade,
cannabinoid pharmaceuticals to Cannvalate Pty Ltd, one of
Australia’s largest distributors.
Under the two-year
agreement, Greenlab will supply a range of certified
cannabis products that meet the high-quality standards set
by the Australian Therapeutic Goods Administration (TGA) and
meeting internationally recognized GMP requirements.
Greenlab and Cannvalate will non-exclusively distribute the
products to medical patients approved through the TGA’s
Special Access Scheme, on a consignment
basis.
Approximately $2.4 million of committed revenue
stream (depending on mix of derivative products selected)
expected to be received by Greenlab over the 24-month term
with an option for an extension for an additional year on
the same terms and conditions.
“We are excited to be
working with Cannvalate in Australian market to bring new
formulations and products to the New Zealand market in near
future” said Kevin Edgar, CEO of…
