Akanda Corp. announced multi-year supply agreement with Cansativa GmbH. This new supply agreement for Akanda marks one of the largest for medical cannabis to be exported from Portugal to serve the emerging European medical cannabis market.

Under the agreement terms, Akanda will supply Cansativa Group with two EU-GMP quality strains of dried THC flower cultivated from its Portuguese operations at Holigen, for distribution and sale to all pharmacies in Germany through the Cansativa platform. The contract specifies initial deliveries of a minimum of 1,000 kilograms (approximately 2,200 pounds) over the first 12 months, with a right of first refusal to take on additional quantities that could result in the full capacity utilization of Holigen's 2,000 kilograms per annum indoor production capacity. The initial shipment is anticipated to include up to 250 kilograms of each strain to be supplied no later than the fourth quarter of 2022.