Alongside this, Incannex has released a series of pharmaceutical-grade cannabinoid products to be sold through Cannvalate, Australia’s largest cannabinoid distribution network. Each year, Incannex will purchase up to 2000 50ml bottles over the 5-year contract, with products designed to match the highest demand Cannvalate products.Cannvalate itself is experiencing a spike in interest, with over one hundred new patient enquiries daily and a commercial strategy to reach 1000 patients by the end of this year.The new distribution agreement between Incannex and Cannvalate expands upon a prior agreement between Impression Health Care and Cannvalate made on March 21st, which included the purchase and distribution of cannabis medicines through Canvallate’s prominent network of medical professionals.The agreement also grants Cannvalate a series of options which are subject to shareholder approval at the Extraordinary General Meeting (EGM) and will be priced up to $0.14 per share.IHL’s expanded agreement with Cannvalate dovetails with their other existing agreements, one of which is with leading US cannabinoid therapeutics Company, AXIM Biotechnologies Incorporated as well as a license agreement with Resolution Chemicals for the production and distribution of Dronabinol in the USA, Canada, Australia, and New Zealand.The new supply agreement further sets Impression up to position itself at the forefront of the ever-growing medicinal cannabis market.
IHL Price at posting:
7.9¢ Sentiment: Buy Disclosure: Held
