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CAN (AB): Grower signs up to $15M supply agreement with Israeli company

CannaPharmaRx has signed a supply agreement with Israeli company Y.S.A Holdings. CannaPharmaRx will cultivate commercial cannabis at its Facility in Canada and supply YSA Group material for the sole purpose of selling the finished product in Israel and Morocco. The agreement shall initially be for 24 months and automatically renews for periods of 24 months each.

YSA will buy from CannaPharmaRX a minimum of 400kg of Material per annum per each country comprising the Territory during the Term. It is anticipated that purchase orders will be between 400kg and 1000kg and occur as often as four times annually. Deliveries are anticipated to begin in the third quarter. Anticipated Revenues can be between $6 - $15 million on a yearly basis, depending on quantity and timing.

"In accordance with the company's model, we are building an international brand for our product. For this agreement, the brand will contain up to fifteen strains from the large pool of CannapharmaRX's exclusive inventory. This is an important agreement for us as YSA's CEO has significant experience in this industry and specifically in the international marketplace. Until recently, he was the CEO of Teva Adir, one of the original and leading cannabis companies in Israel, and currently advises the Moroccan government on the regulation issues required to market cannabis in the field. We continue to grow our customers and distributors across the globe," stated Nick Colvin, CEO of CannaPharmaRx.

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