Beleave Inc. has signed an agreement with Canymed GmbH to supply the German market with medical cannabis. This move is the first of a series of strategic initiatives to penetrate the robust European cannabis market and marks the Company’s expansion into its third continent alongside both North and South America.
“Medical cannabis has been legal in Germany since March 2017 and the country has quickly become one of the world’s largest federally-regulated medical cannabis markets. Its growth continues to outpace other jurisdictions with similar regulations and was a natural target as we expand our distribution channel into Europe,” commented Beleave CEO, Andrew Wnek.
Key Takeaways of Agreement
- Canymed to import 5,000 kg dry flower / year from Beleave;
- Canymed to pay EUR 7.00 / gram to Beleave; and
- Beleave will receive 10% ownership in Canymed and first right of refusal to purchase an additional 20% in exchange for providing its expertise, training, consultation and support.
To complement this transaction, Beleave is pleased to announce that Angela Fehr has been hired as Vice President of International Sales. Ms. Fehr is a seasoned, well-known, and respected cannabis industry veteran. Sales is a passion for Ms. Fehr and she most recently oversaw international deals for her previous employer. She has been instrumental in originating and completing transactions over a wide variety of sales platforms within the cannabis industry. Ms. Fehr will be focused on using her strong sales background to expand Beleave’s international footprint.
You would be hard-pressed to find a more reputable and qualified individual in our industry,” Wnek continued. “We are thrilled to add Angela to the Beleave team and are certain she will thrive in her new role.”