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VANCOUVER, May 29, 2018 /CNW/ - Speakeasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (the "Company" or "SpeakEasy") a late stage ACMPR applicant is pleased to announce it has signed a memorandum of understanding with HerbaMedica GmbH to export premium cannabis to Germany and the EU markets.
HerbaMedica will buy/distribute a fixed amount of products from SpeakEasy and SpeakEasy will provide this amount every year, initially this obligation shall last for three years after the binding conclusion of the Venture. binding conclusion of the Venture. The before mentioned amount shall be fixed between the parties once the German authorities have granted the license, companies will engage in signing a definitive agreement, with further in-depth details being provided, independent from the allowed amounts according to that license. In the before mentioned period of initially three years Partner will only distribute or sell Products to or in Germany and the EU via HerbaMedica. "By having HerbaMedica distribute our products throughout the EU, we gain access to a significant amount of possible clientele. Currently there are only 7 approved Cannabis importers to Germany, Speakeasy is excited to be a applicant for this opportunity to join this group of selected few." Stated Marc Geen of CEO Speakeasy.
HerbaMedica plans to give SpeakEasy access to the German and EU market (to the extent that the latter is included in the access to the German market) with applying and paying for their inspection. The inspection will consist of two stages. Initially a specialised Consulting Company regarding the EU GMP (Good Manufacturing Practice) and EU GACP (Good Agricultural Cultivation Practice) will inspect the sites and advise on necessary improvements / changes to receive the EU license. Thereafter the sites will be inspected by the competent German authorities. The external costs for the inspection will be borne by HerbaMedica, internal preparation / improvement costs of SpeakEasy will remain with the SpeakEasy.
"SpeakEasy is a great fit for Herba Medica because of the extensive knowledge Marc and his team bring to the table in all facets of the cannabis industry. Both our companies specialties are very complimentary to each other." - Stated HerbaMedica CEO David Hohne
HerbaMedica is late stage applicant for importing cannabis into Germany. It was founded in Summer 2017 to become a importer of premium cannabis flower and cannabis based products to Germany and the European Union. Currently there are seven importers which are all importing from the same sources into the German market.
ON BEHALF OF SPEAKEASY CANNABIS CLUB LTD.
(signed) "Marc Geen"
Chief Executive Officer
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Statements about the Target's future facility expansion plans or ACMPR license application are all forward-looking information.
Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Factors that could cause the actual results to differ materially from those in forward-looking statements include failure to obtain regulatory approval, the continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. Although such statements are based on management's reasonable assumptions, there can be no assurance that the statements will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company's forward-looking statements.
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SOURCE SpeakEasy Cannabis Club Ltd.
For further information: Speakeasy Cannabis Club Ltd., www.speakeasygrowers.com, Telephone: 604-283-1722