- SLANG Worldwide’s (SLNG) investee company, Agripharm, has signed a supply agreement with the Ontario Cannabis Retail Corporation
- Under the agreement, Agripharm will supply cannabis flower, concentrates and edibles to the Ontario Cannabis Store (OCS)
- This is Agripharm’s first provincial supply agreement in Canada, which the company intends to build upon
- The company will begin providing the cannabis products to the OCS in September, 2020
- SLANG Worldwide (SLNG) is up 11.11 per cent and is currently trading at C$0.15 per share
SLANG Worldwide’s (SLNG) investee company, Agripharm, has signed a supply agreement with the Ontario Cannabis Retail Corporation.
In this case, the OCRC is operating as the Ontario Cannabis Store (OCS). The OCS is the only legal online retailer for recreational cannabis in the province of Ontario. It is also the exclusive distributor of recreational cannabis to privately owned licensed retailers.
Under the supply agreement, Agripharm will supply the OCS with cannabis flower, concentrates, and edibles. The company has exclusive Canadian rights to intellectual property, strains, and brands of Green House Seed Co and Strain Hunters.
Green House Seed is a major global provider of cannabis genetics, and Strain Hunters is its sister brand.
Just last month, Agripharm secured a Health Canada licence to sell extracts and edibles to authorised retailers in Canada. This includes SLANG’s Firefly, O.penVAPE, Bakked and District Edibles brands.
This OCRC agreement is Agripharm’s first provincial supply agreement in Canada, which it intends to build upon. The company is currently in discussion with other provincial regulatory authorities, attempting to secure additional distribution opportunities.
SLANG Worldwide’s Executive Chairman, Peter Miller, commented on the landmark moment for the company’s investee.
“Securing its first supply agreement in its home province is an important milestone for Agripharm.
“It’s also great news for Ontario consumers. In addition to SLANG products, consumers will now have consistent access to award-winning strains from Green House Seed Co and Strain Hunters,” he said.
Agripharm expects to begin supplying the cannabis flower and concentrates in September 2020, with edibles becoming available at a later date.
SLANG Worldwide (SLNG) is up 11.11 per cent and is trading at C$0.15 per share at 2:57pm EDT.