Cannvalate will begin selling products from Canadian manufacturer Avicanna (TSX:AVCN,OTCQX:AVCNF) thanks to a new supply agreement.

As part of the initial deal, Melbourne-based Cannvalate will obtain the right to sell the Rho Phyto line of products from Avicanna in Australia as the exclusive distributor.


The Canadian firm will also provide white-label products to Cannvalate alongside its branded items. The Rho Phyto products for the Australian market will be manufactured in Colombia through Avicanna’s subsidiary operations in the nation.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Aras Azadian, CEO of Avicanna, told investors that the Canadian firm underwent significant due diligence before stepping into the emerging Australian market. The executive said this agreement was designed for its medical cannabis product offerings.

The current line of Rho Phyto offerings from Avicanna includes a sublingual spray, oil drops, soft gel capsules and a topical cream and gel.

Sud Agarwal, CEO of Cannvalate, added that the firm will help Avicanna satisfy testing standards from Australia’s Office of Drug Control (ODC). “We have been particularly impressed by their attention to quality processes and firm stance on providing validated clinical research,” Agarwal said.

Cannvalate is a business-to-business services company for the medical marijuana industry.

Avicanna joins a running list of Canadian names pursuing active operations in Australia through partnerships or a direct presence. One of the most recent participants in the space, MPX International (CSE:MPXI,OTC Pink:MPXOF) announced in early February that it had obtained a medicinal cannabis licence from the ODC.

Shares of Avicanna opened at C$1.87 on Monday (February 24) in the Canadian markets. However, the company quickly dropped in value during the early portion of the trading session.

In a note to investors issued in January, Cameron Bell, an analyst with boutique bank Canaccord Genuity Australia, reassured readers that the market in the country was looking better after a sluggish 2019. The bank’s own index for Australian names had seen significant recent growth at the time thanks to easing concerns from offshore investors.

Don’t forget to follow us @INN_Australia for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

CANBUD Distribution Corp. (CSE:CBDX, FSE:CD0) leverages on timely and methodical execution of its revenue generating plan. It operates a trinitarian enterprise model in the plant-based protein, psychedelic pharmaceutical and non-psychedelic nutraceutical, and hemp cannabinoids (CBD) spaces. (www.canbudcorp.com).

Keep reading... Show less

(TheNewswire)

Keep reading... Show less

Market entry will address pent-up demand in the Japanese & Philippine markets for TRACE proprietary plant-based mineral formulation and wellness-focused products

Emerging leader in innovative health and wellness beverages and natural products, BevCanna Enterprises Inc. ( CSE:BEV , Q:BVNNF , FSE:7BC ) (“ BevCanna ” or the “ Company ”) announces today that has entered into an exclusive sales agency distribution agreement with Yokohama-based Mirai Marketing Inc. (“Mirai”) to bring Naturo Group’s TRACE proprietary plant-based mineral consumer products to Mirai’s extensive Japanese and Philippine sales and distribution networks.

Keep reading... Show less

Further to its press release dated April 12, 2021, Ayurcann Holdings Corp. ( CSE: AYUR ) (the “ Company ” or “ Ayurcann ”), is pleased to announce that it has oversubscribed and upsized its non-brokered private placement (the “Offering”) due to strong investor demand. The Company now anticipates that the Offering will be completed for gross proceeds of not less than $550,000.00, consisting of not less than 2,910,053 units (“Units”) at a price of $0.189 per Unit. Each Unit is comprised of one common share of the Company (a “Common Share”) and one half of one Common Share purchase warrant (a “Warrant”). Each Warrant is exercisable to acquire one Common Share at an exercise price of C$0.38 per Common Share for a period of 36 months from the date of closing of the Offering (the “Closing Date”), scheduled for April 22, 2021. The Units will have a hold period of four months and one day from the date of issuance.

Ayurcann CEO Igal Sudman commented: “We are very pleased with the demand we are seeing for the Offering. The feedback we have received to date is showing that our business is resonating with investors. We’re looking forward to closing the offering and proceeding with the planned Phase 2 build out, which will help greatly increase our facility’s capacity.”

Keep reading... Show less

UK InstaCoin APP Promises to Open NFTs up to the Masses through Social Media

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is pleased to provide an update on its recent investment in InstaCoin Technologies Ltd., a newly formed UK entity

Keep reading... Show less