PharmaCielo (TSXV:PCLO,OTCQX:PCLOF) has entered into a three-year agreement with XPhyto Therapeutics (CSE:XPHY) to supply medicinal-quality cannabis extract oils and isolates to XPhyto for product development and manufacturing at its facility in Baden-Württemberg, Germany for sale into the German market.
As quoted in the press release:
“PharmaCielo has a significant opportunity to export an ever-expanding range of medicinal products into the German market, including those containing THC, and we are very excited to work with XPhyto to leverage this opportunity,” said David Attard, CEO of PharmaCielo Ltd. “As the largest medicinal cannabis marketplace in Europe, Germany is also the most demanding in terms of product quality. Our ability to meet market requirements for verifiable quality parameters was essential to establishing the relationship. We expect to generate meaningful revenue through this agreement over the next three years and are focused on continuing the ramp-up of our sales efforts through 2020.”