EU|AgraFlora Organics Acquires German EU-GDP Medical Cannabis Distributor, Farmako GmbH, Vertically Integrating Into the EU Marketplace

AgraFlora Organics Acquires German EU-GDP Medical Cannabis Distributor, Farmako GmbH, Vertically Integrating Into the EU Marketplace

VANCOUVER, British Columbia, Oct. 25, 2019 (GLOBE NEWSWIRE) — AgraFlora Organics International Inc.  (“AgraFlora” or the “Company”) (CSE: AGRA) (Frankfurt: PU31) (OTCPK: AGFAF), a growth oriented and diversified international cannabis company, is pleased to announce the Company has acquired 100 per-cent (100%) of the issued and outstanding shares of The Good Company GmbH (“The Good Company”). The Good Company is the parent company of German EU-GDP medical cannabis distributor, Farmako GmbH (“Farmako”). Farmako is a leading European medical cannabis distributor, headquartered in Frankfurt, Germany, with affiliated companies in the United Kingdom (“UK”), Luxembourg and Denmark. GERMANY Farmako is equipped with the following German and European industry certifications and distribution licenses, affording the Company unparalleled access to Germany’s geometrical growing medical cannabis marketplace: Medical wholesale distribution license under German Medicines Act (“AMG”); Permit for Narcotic Drug Handling as per German Betäubungsmittelgesetz (“BtMG”); and, Certificate of EU-Good Distribution Practice (“EU-GDP”). Farmako has realized revenues of over C$2,326,000.00 throughout the 2019 fiscal year and has succeeded in capturing an eight per-cent (8%) market share of Germany’s burgeoning medical cannabis arena, boasting the highest capital efficiency and positive EBIT margins within the industry. Farmako’s German distribution network extends over 19,800 pharmacies and comprises an aggregate…

Excerpt only …
READ MORE BELOW
Source : New feed
Link to original : AgraFlora Organics Acquires German EU-GDP Medical Cannabis Distributor, Farmako GmbH, Vertically Integrating Into the EU Marketplace
reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.