CAN (AB): Grower gets genetics, makes them part of the license

CannaPharmaRx has signed a genetics transfer agreement with High Profile Cannabis, Inc. of Alberta and British Columbia, Canada.

High Profile will deliver live cannabis plants and seeds to CannaPharmaRx. CannaPharmaRx has applied to Health Canada to be a licensed producer, and High Profile desires that its genetics be part of this license. CannaPharmaRx expects to produce finished cannabis products utilizing these genetics. Both companies will negotiate a Supply Agreement in which High Profile will purchase produce from CannaPharmaRx on mutually agreeable terms. This agreement will continue for a minimum of twelve months.

"The company continues to achieve significant milestones and will begin to recognize revenue shortly. Partnerships like this and others we are working on will lay the groundwork for significant expansion. We continue to identify other areas for growth and are confident in distribution on several continents next quarter," said Nick Colvin, CEO of CannaPharmaRx.