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Little Green Pharma deepen German roots

2 December 2022 10:23
ASX: LGP

Little Green Pharma continues growing into the German medicinal cannabis market, signing its second supply deal with alternative medicine giant Cannamedical, set to bring in a minimum $4.5 million dollars over the next two years.

The news comes just days after the company secured approval to move on a study to support over-the-counter registration of CBD products, all while continuing to grow a multi-national customer base.

The deal is very similar to the first 4.5 million dollar deal made with Cannamedical, securing exclusive supply for in-demand LGP products.

It brings in the SMS strain to Germany, quickly subbing in for a terminated deal with German producer Four 20 Pharma and showing the benefit of a broad partner base and quality of product.

Little Green Pharma has been blooming over the past year, building its base in Australia while continuing cement itself as the preeminent non-Canadian medicinal cannabis supplier to Germany — growing its half-yearly revenue 25 per cent to 9.2 million dollars.

The company is targeting the first delivery of SMS into German borders for the first quarter of next year.

LGP’s Australian Stock Exchange-listed share price has risen 5.555 per cent today, currently selling at 19c (10.22 am UTC+8 hours).

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