Medipharm Labs (TSX: LABS) and Argentia Gold Corp this morning jointly announced a supply agreement, whereby Medipharm will supply Argentia with cannabis product for distribution to Atlantic Canada. Although the release attempts to avoid saying it, the agreement appears to be a white label arrangement.
Argentia Gold, despite its name, is a vertically integrated licensed producer based within Atlantic Canada. It currently has distribution to the provinces of Newfoundland and Labrador, New Brunswick, Prince Edward Island and Nova Scotia.
The agreement is for a two year term, whereby Medipharm Labs will produce Argentia Gold branded CBD cannabis resin for distribution by Argentia. No financial details of the arrangement were released, nor were expected quantities.
A commencement date for the agreement was not provided.
Medipharm Labs last traded at $1.91 on the TSX.
Information for this briefing was found via Sedar and MediPharm Labs. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
