Ayurcann Holdings Corp (CSE:AYUR) revealed that it has struck two separate supply agreements with medical cannabis product suppliers Cannmart Inc and Empress Agri Sales Inc, which does business as Patient Choice, to sell branded products directly to medical patients.
The Toronto-based extraction company which specializing in processing cannabis and hemp for making oils and various derivative products, said that Cannmart and Ayurcann have entered into a 12-month supply agreement with the option to renew.
According to the deal, Ayurcann will supply Cannmart with manufactured products for resale into the medical cannabis market. This agreement between the companies came into effect on April 15.
Similarly, Patient Choice and Ayurcann have also sealed a 12-month supply agreement with the option to renew. Patient Choice operates the Platform, under which it facilitates direct-to-patient sales of medical cannabis products on a “drop-shipped,” non-possession basis. The company said the agreement with Patient Choice was struck on December 17, 2020.
READ: Ayurcann Holdings Corp closed its oversubscribed non-brokered private placement
“The products made and supplied by Ayurcann can include but are not limited to the XPLOR Pure CBD 1000 Tincture, Fuego Vena Grad 1g Vape Cartridge, Fuego Cheri Amour 1g Vape Cartridge, Fuego La Padres 1g Vape Cartridge, and finally the Xplor Balanced 250 Tincture,” said the company.
“We are thrilled by this opportunity as we believe these agreements further cement our positioning in the industry as a top-quality supplier for leading cannabis brands and direct to medical patients,” said Ayurcann CEO Igal Sudman in a statement.
“We have the ability to formulate, manufacture and package quality products at affordable prices and have shown an ability to work with our clients to create products that will resonate in the marketplace.”
All the firms inking the agreements are dedicated to supplying and delivering “high-quality, refined products to their medical patient consumers,” noted the company.
Ayurcann is focused on providing pharma-grade products for the adult use and medical cannabis industry in Canada. It provides proprietary services including ethanol extraction, formulation, product development and custom manufacturing.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive