IM Cannabis (CSE:IMCC) has signed definitive agreements to establish a medical cannabis cultivation and processing joint venture in Greece.
As quoted in the press release:
The Company’s Joint Venture partner is Galen Industries Single Member Societe Anonyme, a Greek company established by a consortium of investors in Greece with extensive experience in the pharmaceutical, media, finance and energy sectors (“Galen”). In addition, the Joint Venture and IMC have signed a preferred supply agreement (the “Supply Agreement”) in which IMC has the right to purchase up to 25% of the total production from the Joint Venture. IMC expects to gain commercial and competitive advantages by supplying the German market and other emerging markets across Europe with EU-GMP medical cannabis products from the Joint Venture’s facility in Greece at preferred terms.