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Little Green Pharma get a big green deal

4 October 2022 11:00
ASX: LGP

Little Green Pharma has once again upped its German presence having signed an exciting bulk supply deal worth potentially over 4.5 million dollars with Cannamedical.

Under the deal, LGP will exclusively supply Cannamedical with high-THC strain products and will retain exclusivity as long as Cannamedical orders specified minimum quantities every six months for two years.

The deal represents the fourth German supply contract LGP has landed, cementing its lead as the pre-eminent non-Canadian medicinal cannabis in both Germany and the EU — with Cannamedical holding a quarter of the German medical cannabis market.

The German medicinal cannabis market alone is estimated to grow to around 1.5 billion euros by 2025, and the nation expects recreational legalisation to happen as early as next year.

The company said the agreement represents a continued validation of its key strategy of developing bespoke, high-value white label strains for export to lucrative jurisdictions.

Final product development is expected in the next few months with the first shipment sent out in the first half of next year.

LGP’s Australian Stock Exchange-listed share price has risen 2.127 per cent today, currently selling at 24c (10.37 am UTC+ 8 hours).

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