Kanabo has entered a deal to partner with Hellenic Dynamics S.A, a medical cannabis cultivation company with a substantial cultivation facility in Northern Greece. Under the terms, Kanabo will buy up to 1000 kg per year of EU-GMP-certified cannabis flowers with pre-defined THC or CBD contents, subject to certain regulatory approvals, for subsequent extraction of medical standard oils.
Avihu Tamir, CEO of Kanabo commented: "The MoU with Hellenic and the subsequent investment is part of Kanabo's strategy to quickly grow its core business whilst pursuing complementary, synergistic, acquisitions and investments in the medical cannabis space, leveraging our position as a quoted company. We welcome the enthusiastic support of investors for our approach.”
Davinder Rai, Vice President of Hellenic Dynamics, commented: “This agreement and investment in the business underscores the quality and scale of our specialist cultivation ambitions. We look forward to working closely with Kanabo and this deal highlights the demand and growth opportunity for Hellenic in the European medical cannabis market.”
For more information:
Kanabo
kanabogroup.com