MARKHAM, ON, April 11, 2018 /CNW/ - MedReleaf Corp. (TSX:LEAF) ("MedReleaf" or the "Company"), Canada's first and only ISO 9001 and ICH-GMP certified cannabis producer, today announced that it has completed a supply agreement with Société des alcools du Québec ("SAQ") to supply the future Société québécoise du cannabis (SQDC) with high quality adult recreational-use cannabis products in accordance with the previously announced Letter of Intent ("LOI").
Under the terms of the agreement, MedReleaf is committed to supplying the Quebec market with 8,000 kilograms of cannabis products per year with a minimum three-year term.
"The adult-use market is rapidly approaching and since signing our LOI in February we have achieved several milestones to advance MedReleaf's position as Canada's leading premium cannabis producer," said Neil Closner, CEO of MedReleaf. "Our recently announced greenhouse acquisition in Exeter, Ontario brings MedReleaf's fully funded annual production capacity to 140,000 kilograms of cannabis products."
As Canada's leading supplier of premium medical and recreational cannabis, MedReleaf is recognized for its commitment to cultivating consistent, safe, high-quality cannabis. At the voter-driven 2017 Lift Canadian Cannabis Awards, MedReleaf led the industry by winning LP of the year and placing in 10 different categories including first place awards in several product categories: Top Indica Flower, Top CBD Flower, Top High THC Flower, and Top High CBD Oil.
The agreement is conditional on the adoption by the federal and provincial governments of the necessary regulatory framework.
About MedReleaf Corp.
Voted Top Licensed Producer at the 2017 Lift Canadian Cannabis Awards, MedReleaf is an R&D-driven company dedicated to innovation, operational excellence and the production of top-quality cannabis. Sourced from around the world and carefully cultivated in one of two state of the art ICH-GMP and ISO 9001 certified facilities in Ontario, the Company delivers a variety of premium products for the global medical market and is committed to serving the therapeutic needs of its medical patients and providing a compelling product assortment for the adult-use recreational consumer.
For more information on MedReleaf, its products, research and how the company is helping patients #livefree, please visit MedReleaf.com or follow @medreleaf
SOURCE MedReleaf Corp.
For further information: Dennis Fong, Investor Relations, [email protected], 416-283-9930