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.”
Foliumed is a vertically integrated, global cannabis company with cultivation, production and distribution assets in the USA, Latin America and Western Europe with annual flower throughput capacity of 65,000 kg and 10,000 kg of pharma grade oil extracts. Foliumed combines its low-cost position, access to unique cannabis cultivars and intellectual property from leading R&D innovators to provide affordable access to value-added medicinal cannabis products in international markets.
Medisun Inc, a limited private Ontario corporation which has made its application to become a licensed producer of medical cannabis pursuant to Health Canada’s Access to Cannabis for Medical Purposes Regulations (“ACMPR”). The Company will be phasing in a 220,000 square feet, state-of-the-art greenhouse facility in Grande Pointe, Ontario, to be expanded subsequently to 800,000 and 1,200 000 square feet. Once at full capacity in 2019, this greenhouse site will conservatively yield over 81,000 kg of cannabis per year. Medisun differentiates itself by having extensive proven growing expertise and being the lowest cost/highest yielding producer in Canada.