Zenabis Global (TSXV:ZENA) announced an initial agreement to supply Farmako GmbH with medical cannabis product.

As quoted in the press release:

Pursuant to the LOI, Farmako has committed to an initial purchase of CBD isolate. Farmako and Zenabis will each pursue all relevant regulatory permits and licenses in order to complete the initial transaction. The Letter of Intent also contemplates an expansion of the supply arrangement to include other Zenabis products as permitted under applicable laws.

“We are thrilled to enter the European market alongside such an innovative and ambitious industry leader as Farmako,” said Andrew Grieve, Chief Executive Officer of Zenabis. “The market for pharmaceutical cannabis in Europe is estimated to reach €55 billion by 2028, and this strategic relationship helps position our company to seize the opportunity this represents. Farmako’s significant growth ambitions align with our own. With a shared commitment to product innovation and R&D, we look forward to leveraging this relationship to expand our opportunities in the future.”

Click here to read the full press release.