Rafarma Pharmaceuticals, Inc. announced the execution of an exclusive joint venture agreement with MTP MATERIAL CO. LTD. This marks the first time a U.S. company has entered the Thailand cannabis industry with an agreement of this kind. MTP is a leading researcher and producer of cannabis and medical Marijuana in Thailand. MTP has an exclusive research agreement with Khon Kaen University and Dr. Monchai Duangjinda, the leading advocate of legalization of medical marijuana in Thailand. The new joint venture of Rafarma and MTP will operate together with Khon Kaen University and Rafarma will hold 49% of all issued and outstanding shares in the new joint-operated company. Through Rafarma’s purchase of the stake in the Thailand based business, Rafarma gains access to Khon Kaen University’s research, production and medical clinic facilities. The medical clinic is currently in operation and is expected to have enormous success as the medical marijuana industry is poised to explode in Thailand. MTP and Rafarma will complement each other’s strengths in optimizing crops, introduction of new products in both Thai and European markets, and in establishing specialized detox centers using cannabis products as permitted by new Thai legislation. These detox centers are a unique and huge competitive advantage for Rafarma. This transaction makes Rafarma the first U.S. company to enter the Thai cannabis and medical marijuana market in this way. Rafarma will continue to update shareholders on the status of this new partnership. The implementation of the detox centers will be an initial focus and is expected to bring immediate and substantial revenues to the company. Khon Kaen University is one of the only three state-authorized institutes that grow cannabis for research and growth. The exclusive agreement MTP already has with Khon Kaen University provides not only an excellent research and development opportunity, but also gives Rafarma the ability to instantly enter the largely untapped Thailand market.