Cannabis Firm Signs Supply Agreement for up to $15 Million

By: Tomas Ronolski - AllPennyStocks.com News

Thursday, March 30, 2023

This company’s business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities and a new agreement is expected to add up to add up to $15 million in annual sales.

Medical cannabis company CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced in a press release that it signed a Supply Agreement with Israeli company Y.S.A Holdings.

Per the agreement CannaPharmaRx will cultivate commercial cannabis at its Canadian facility and supply YSA Group material for the sole purpose of selling finished product in Israel and Morocco. The agreement shall initially be for 24 months and automatically renews for periods of 24 months each.

YSA will buy from CannaPharmaRX a minimum of 400kg of Material per annum per each country comprising the Territory during the Term. It is anticipated that purchase orders will be between 400kg and 1000kg and occur as often as four times annually. Deliveries are anticipated to begin in the third quarter, with anticipated revenues between $6 - $15 million on a yearly basis depending on quantity and timing.

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