Zenabis Global (TSX: ZENA) this morning announced that it has managed to enter into a one year supply agreement with that of Canveda Inc, a wholly owned subsidiary of MPX International (CSE: MPXI). The agreement will see Zenabis sell product to Canveda that is evidently intended for export, despite Canveda being an Ontario based licensed producer.
Under the terms of the arrangement, a minimum of 300 kilograms of dried cannabis flower will be supplied to Canveda by Zenabis per quarter, while the maximum range amounts to 1,000 kilograms per quarter. The first shipment however will be “made upon receipt of an export permit from Health Canada,” which appears to be odd given that Canveda is based in Peterborough.
Further details however identify that all the required import permits from Israel have been received, giving a glimpse into the final destination for the cannabis. Pricing associated with the agreement was not provided by the company.
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The first shipment of 100 kilograms of dried cannabis is to be made upon the receipt of these permits.
Zenabis Global last traded at $0.12 on the TSX.
Information for this briefing was found via Sedar and Zenabis Global Inc. 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.
