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Seed Innovations Ltd said on Thursday its investee company Little Green Pharma Ltd signed a contract with Four 20 Pharma for exclusive supply of a new high-THC strain into Germany.
The agreement represents a minimum take-or-payment commitment of at least $7.5 million over 30 months, including payment of a development fee to help defray strain development costs.
Four 20 Pharma is a German manufacturer, wholesaler and importer of medicinal cannabis.
Little Green Pharma Chair Fleta Soloman said: ‘We are very excited by our new SMS strain as well as the opportunity to be partnering with Four 20 Pharma, one of the largest medicinal cannabis operators in Germany and with a highly successful track record of supplying its 420 Natural brand cannabis products into the German market.’
Seed Innovations shares were down 1.6% at 4.78 pence each on Thursday afternoon in London.
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