West Island Brands - CEO, Boris Ziger
CEO, Boris Ziger
Source: Small Cap Power
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • A Matica (CSE:MMJ) subsidiary has signed a purchase agreement with a Franchise Cannabis subsidiary to acquire cannabis genetic material
  • Through the agreement, Matica’s RoyalMax Biotechnology will obtain THC varieties from Franchise’s Rangers Pharmaceuticals
  • Franchise Cannabis has a collection of over 220 cannabis strains, kept within the first legally registered seedbank in Europe
  • The varieties include Wakeford, Pineapple Express, and Triumphant.
  • Matica (MMJ) is up 25.00 per cent, and is currently trading for 2.5 cents per share

A Matica (CSE:MMJ) subsidiary has signed a purchase agreement with a Franchise Cannabis subsidiary to acquire cannabis genetic material.

The company’s RoyalMax Biotechnology Canada entered the agreement with Franchise’s Rangers Pharmaceuticals. 

Through the purchase agreement, RoyalMax will obtain high-THC varieties from Franchise’s seedbank, the first legally registered one in Europe. The varieties include Wakeford, Pineapple Express, and Triumphant, which Matica expects will receive a warm welcome in Canada.

Franchise Cannabis has over 220 diverse cannabis strains, bred by world-renowned breeder Charles Scott.

He has previously won several awards for his THC strains, such as Love Potion #1, Willie Nelson, and Pink Kush. He has also won 19 Cannabis Cups, and been inducted into the High Times Hall of Fame.  

Matica believes that it will gain a new competitive advantage by injecting new, exciting cannabis strains into Canada’s market.

Matica’s CEO, Boris Ziger, welcomed the opportunities which the purchase agreement brings.

“RoyalMax will introduce new cannabis varieties unique to the Canadian market. Currently there is a lack of genetic diversity within the Canadian market. 

“RoyalMax will have the ability to offer new and unique product varieties to our consumers. Through this relationship, RoyalMax will benefit from one of the most complete and sought-after genetics collections in the world,” he said.

Franchise Cannabis’ CEO, Clifford Starke, also commented on the agreement.

“Matica will have a distinct advantage within the Canadian market by utilizing some of our top strains, such as the highly unique and potent Triumphant, which have not yet been introduced to the Canadian market.

“Franchise is excited to fill this gap and work with innovators in the industry, such as Matica, to effectively cultivate and distribute product based on our unique cultivars,” he said.

Matica (MMJ) is up 25.00 per cent, and is trading for 2.5 cents per share, at 11:59am EDT.

More From The Market Herald

" The Market Herald’s Weekly Cannabis Report

Weekly Update – Top Cannabis News Stories

" BioHarvest Sciences welcomes Gavriel Lambert to the Board of Advisors

BioHarvest Sciences (BHSC) has appointed Gavriel Lambert to serve on its Board of Advisors.
Pure Extracts Technologies - CEO, Ben Nikolaevsky.

" Pure Extracts (CSE:PULL) signs supplier agreement with Shoppers Drug Mart

Pure Extracts (PULL) has signed a cannabis supplier agreement with Shoppers Drug Mart.

" Tilray (TSX:TLRY) expands medical cannabis products in the UK

Tilray Brands’ (TLRY) medical cannabis division, Tilray Medical, has expanded its medical cannabis offerings in the United Kingdom.