THC Global Group in production deal for medicinal cannabis in New Zealand; raises $6.6 millionPosted by On


The deal comes on the back of a $6.6 million fundraising aimed at accelerating high-volume cannabis medicines production for the local and global export markets.

() has signed a binding agreement with JC Logistics Ltd, which trades as Medleaf Therapeutics, for the production and supply of pharmaceutical medical cannabis in New Zealand.

The deal comes on the back of a $6.6 million fundraising aimed at accelerating high-volume cannabis medicines production for the local and global export markets.

Terms of the deal include:

➢ THC Global to provide white-labelled production of medicinal cannabis medicines to Medleaf, following registration of medicines in New Zealand by THC Global;

➢ An initial order of 2,250 bottles, including Full Spectrum CBD and Balanced THC:CBD medicines, labelled under the Medleaf brand, with availability in New Zealand targeted from October 1, 2020;

➢ THC Global to provide limited exclusivity for its CBD 100 Full Spectrum medicine to Medleaf within New Zealand until the end of December 2020; and

➢ Initial production agreement term to August 2021 with automatic annual renewal following the first term.

Major NZ supplier of cannabis medicines

Medleaf, which was set up in 2018, is a major supplier of cannabis medicines in New Zealand, with a well-established supply chain.

From October 1, 2020, new enhanced regulation of medicinal cannabis medicines takes effect in New Zealand which requires all medicines supplied to be submitted for review and…

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