Cannasouth signs 3-year agreement with German-based WEECO

Cannasouth (NZX: CBD) has signed a supplier agreement with Germany-based WEECO Pharma GMBH to supply cannabis flower from its Waikato-based cultivation and processing facility into Europe.

The three-year agreement provides for minimum volumes of cannabis flower to be purchased, with WEECO having the right of first refusal for each new cultivar developed by Cannasouth.

The agreement is expected to be worth between NZ$12-15 million over two years, depending on cultivar, pack size and type.

The parties will also work together to develop cannabis cultivars to best suit the European market.