ECS Botanics has secured a binding offtake agreement to supply medicinal cannabis dried flowers over the next five years to MediCann Health.
Under the Medicann Offtake Agreement, ECS will supply $24 million of pharmaceutical-grade cannabis dried flower to Perth-based medicinal cannabis company MediCann Health beginning in Jan 2024.
Commenting on the agreement, ECS Managing Director Nan-Maree Schoerie said the company's expertise in cultivating and manufacturing cannabis, "inspires us to continue to provide outstanding medicine to companies such as MediCann".
"This agreement marks another milestone following our Jun agreements, totalling $11.9 million.
"These partnerships highlight the strong local demand for our GMP-certified, pharmaceutical-grade cannabis and provide ECS with a solid foundation to continue to deliver profitable growth."
MediCann Founder and CEO, Matt Shales, added that it was rewarding to work closely with ECS over the past number of years and "we are delighted to strengthen our partnership and look forward to continuing our mission to improve the quality of life of people in need of these products and to continue to build on our partnership with ECS Botanics for the long term".
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