Terrace Global has entered into a genetics supply agreement with Apollo Green whereby the parties have entered into an exclusive relationship with respect to the acquisition and importation of high-THC genetics for the Company’s medical cannabis operations in Portugal.
"Terrace Global has commenced the process to acquire the requisite starting materials for the first phase of its greenhouse facilities in Portugal, which will be comprised of approximately 65,000 square feet of greenhouse facilities, a 5,000 square feet of E.U. GMP processing and drying facility and a 3,300 square feet administrative building," the team with the company explains.
"Pursuant to the Genetics Supply Agreement, Terrace Global will be acquiring the following genetics: Chem Stallion (15-25% THC, 0.5-0.1% CBD), Twisted Grape (15-25% THC, 0.5-0.1% CBD) and Apollo Skunk (15-25% THC, 0.5-0.1% CBD). These genetics will add to Terrace Global’s existing inventory of high CBD genetics which were acquired from Colorado and used in its outdoor cultivation in Uruguay."
“We are pleased to be working with Apollo Green to develop our genetics inventory with a view to focusing on high-THC strains that we expect to be well received by the European Union medical cannabis market participants. Apollo Green has an extensive library of genetics that include a diverse set of market leading strains and cross-breeds,” commented Francisco Ortiz von Bismarck, Chief Executive Officer of the Company. “Being able to source these genetics is an important milestone in the development of European operations. Without quality genetics, there is no pathway to success in the burgeoning E.U. medical cannabis industry.”
"Apollo Green has been accumulating an extensive library of high-THC genetics and has benefited from its relationship with Ed Rosenthal. Mr. Rosenthal is a Global Advisor to Apollo Green and is a leading cannabis horticulture authority, author, educator, social activist and legalization pioneer."
“Terrace Global is building a world-class cultivation facility in one of the most attractive countries from a regulatory and climate perspective. We will be working closely with the Company to see how these genetics perform by leveraging our extensive cultivation expertise,” commented Tyler LeBlanc, Chief Executive Officer of Apollo Green. “This is a meaningful partnership for us as we seek to grow our genetics and plantlet business globally. Terrace Global is the ideal partner given its extensive experience and international footprint in Uruguay, Portugal and Spain.”
"The Genetics Supply Agreement is subject to various conditions precedent, including the issuance of the applicable export and import permits from the regulatory authorities in Canada and Portugal."
For more information:
Terrace Global
Toronto – 1133 Yonge Street, Suite 300, Toronto, Ontario, M4T 1W1
terraceglobal.ca