CannoMe has signed an agreement with Tikun Olam Cannbit, according to which Tikun Olam Cannbit will produce dried cannabis and oils for CannoMed from raw materials that will be supplied by Cannomed. The agreement is for a period of 36 months, which begins on the date of the first order. The parties have the option to terminate the agreement with 90 days' notice.
Under the terms of the agreement, CannoMed will provide for Tikun Olam Cannbit inflorescences from the cannabis plant that meet the quality standards and requirements of the QR in the minimum quantities stipulated in the agreement for each raw material supply. Tikun Olam Cannbit, for its part, will maintain the quality assurance processes of the raw materials in accordance with the QR procedures, including conducting laboratory tests for each shipment of raw materials, as specified in the IMC-GMP procedures. The raw materials will be stored by Tikun Olam Cannbit, at its expense, for the purpose of manufacturing the products for the company.
Tikun Olam Cannbit will manufacture the products for the Company in accordance with the agreements between the parties, the accepted standards of Tikun Olam Cannbit and the IMC-GMP standard. In addition, Tikun Olam Cannbit will label the packaging in accordance with the accepted standards and instructions of the QR. The consideration, stipulated in the agreement for the production of the products and related services by Tikun Olam-Kanbit, is at prices accepted in the market.
The agreement also stipulates an arrangement, according to which the company will be given the option to select up to two varieties (other than Tikun Olam Cannbit varieties. It is also stipulated that the company will be entitled to the assistance of the skilled manpower of Tikun Olam Cannbit, including an agronomist who specializes in cannabis cultivation on behalf of Tikun Olam-Cannbit.
For more information:
Tikun Olam
tikunolam.com