Foliumed, a vertically integrated international producer of medicinal cannabis products has agreed to supply pharma-grade extracts to Medisun, an applicant under Health Canada’s licensing regime.
Starting in Q1 2019, and subject to approvals by the Canadian and Colombian authorities, Medisun intends to purchase and import at the least 25% of Folium Global’s expected annual production capacity of 10,000 kg of cannabis oil. The extracts will be derived from unique Colombian strains cultivated Foliumed´s 10 hectare cultivation and extraction site in close proximity to Bogota.
Oliver Zugel, CEO of Foliumed, stated: “We are looking forward to work with Medisun to provide Canadian patients with high quality medicinal extracts at affordable prices, derived from a large variety of Colombian strains. This deal adds an exciting export opportunity to our sales efforts in Latinamerica, a market with a population of over 625 million people”.
Art Caron, CEO of Medisun, said: “We are very pleased to be moving forward with Foliumed in what we believe will be a very successful relationship.”