- ECS Botanics (ASX:ECS) inks offtake agreement with UK-based Rokshaw for the supply of medicinal cannabis dried flower over three years
- The agreement is priced at $9 million and will see Rokshaw gain exclusivity for three strains of GMP medicinal cannabis dried flower
- ECS reported it highlights the strong demand for premium dried flower
- Supply will kick off this financial year
- ECS shares are up 4.17 per cent, trading at 2.5 cents at 2:02 pm AEDT
ECS Botanics Holdings (ASX:ECS) has inked a binding offtake agreement with UK-based Rokshaw for the supply of medicinal cannabis dried flower over the next three years.
The deal, valued at $9.3 million, solidifies ECS’ position as a leading player in the medicinal cannabis market.
Under the agreement, ECS will annually supply a minimum of 600kg of pharmaceutical-grade cannabis dried flower to Rokshaw.
This agreement follows recent successful partnerships, including deals with MediCann Health, as well as with Entoura and Precision Pharmaceuticals.
Rokshaw, part of the globally renowned Curaleaf International, is a leading distributor of cannabis products in the United Kingdom.
“We are excited to begin our commercial relationship with Rokshaw, which will see ECS deliver at least 600kg annually and achieve $9.3 million in revenue, marking another substantial milestone with a new international customer,” ECS Managing Director Nan-Maree Schoerie said.
The agreement also includes terms that hold Rokshaw accountable for 80 per cent of any agreed minimum volumes not purchased in a calendar year.
ECS shares were up 4.17 per cent, trading at 2.5 cents at 2:02 pm AEDT.