TORONTO, Jan. 9, 2018 /CNW/ - Today Nuuvera Inc. ("Nuuvera") (TSXV: NUU) announced that it has entered into a letter of intent ("LOI") with German pharmaceutical company CC Pharma GmbH to export approximately 1,200 kilograms of medical cannabis products from Canada to Germany.
Under the terms of the LOI, CC Pharma, a leading distributor of pharmaceutical products to over 13,000 pharmacies in Germany, has agreed to import approximately 1,200 kilograms of medical cannabis from Nuuvera in 2018. The completion of the transaction is subject to and conditional upon the execution of the definitive agreement, the approval from the TSX Venture Exchange, and the approval of the relevant Canadian and German governmental authorities.
Lorne Abony, the CEO of Nuuvera, said the agreement will bring together two companies with a strong commitment to high standards of quality and consistency.
"We are pleased to have established this important relationship with CC Pharma," said Abony. "CC Pharma is a trusted provider of quality medical products to German patients, with a reputation for prioritizing consumer protection and ensuring quality and consistency. Collectively, we will aim to deliver the option of high quality medical cannabis to patients across Germany."
"Working with CC Pharma signals to the German consumer, physicians, pharmacists and lawmakers that Nuuvera is a world class medical cannabis producer," Abony continued.
Hendrik Knopp, MD of Nuuvera Germany, added: "Nuuvera's partnership with CC-Pharma provides us with a significant advantage to distribute our products in the rapidly growing German market. In 2018, we intend to import three different cannabis strains preferred by CC-Pharma and German patients. Our expectation is that this co-operation will grow significantly, in light of the size of the German market."
Since making access to medical cannabis easier in legislation passed in early 2017, Germany has registered approximately 10,000 patients. The demand for medical cannabis is expected to further grow in the coming years.
"Nuuvera has a secure supply of high quality medical cannabis products supported by extensive quality assurance, production and distribution capabilities," added Abony, "positioning us to become a major supplier of these products to German and European consumers."
Nuuvera is a global cannabis company founded on Canadian principles, and built with the whole world in mind. Nuuvera is currently working with partners in Germany, Israel and Italy, and is exploring opportunities in several other countries, to develop commercial production and global distribution of medical grade cannabis in legalized markets. Through its subsidiaries, ARA – Avanti Rx Analytics Inc. and Avalon Pharmaceutical Inc., Nuuvera holds a Dealer License (GMP) under the Narcotic Control Regulations and Office of Controlled Substances. Nuuvera is currently in the final stages of the Health Canada review process to become a Licensed Producer of medical marijuana under the ACMPR, and has recently received its "letter to build" approval.
Notice regarding forward-looking statements:
This release includes forward-looking statements regarding Nuuvera and its business. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "is expected", "expects", "scheduled", "intends", "contemplates", "anticipates", "believes", "proposes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Such statements are based on the current expectations of the management of Nuuvera. The forward-looking events and circumstances discussed in this release may not occur by certain specified dates or at all and could differ materially as a result of known and unknown risk factors and uncertainties affecting Nuuvera, including risks regarding the cannabis industry, failure to obtain regulatory approvals, economic factors, the equity markets generally and risks associated with growth and competition. Although Nuuvera has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. No forward-looking statement can be guaranteed. Except as required by applicable securities laws, forward-looking statements speak only as of the date on which they are made Nuuvera undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
The TSX Venture Exchange has in no way passed upon the merits of the transaction and has neither approved nor disapproved the content of this press release.
SOURCE Nuuvera Inc.
For further information: For media inquiries only please contact: Justin Burrows, Venture Communications, [email protected], 1-416-276-7699