EuroLife Brands Inc (CSE:EURO) (OTCMKTS:EURPF) has signed a letter of intent to collaborate on educational, evidence-based cannabis content with AgraFlora Organics International Inc (CSE:AGRA) (OTCMKTS:AGFAF).
The content and associated learning modules will be deployed on EuroLife’s physician-sanctioned German cannabis education platform, Cannvas.de, the companies said in a joint statement.
For AgraFlora, the addition of Cannvas.de to its vertically-integrated medical cannabis ecosystem in Germany will provide its German patients with access to independent, physician-backed and educator-approved cannabis literature.
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On October 25, the Vancouver-based company acquired The Good Company GmbH, the parent company of German medical cannabis distributor, Farmako GmbH. Farmako has a distribution network of 19,800 pharmacies covering 100,000 patients.
“Our recent acquisition of leading German medical cannabis distributor Farmako affords us the distinctive advantage of unencumbered exposure to a large sample size of German medical cannabis patients,” AgraFlora CEO Brandon Boddy said in a statement. “In collaboration with EuroLife, we will look to champion the German evidence-based cannabis education marketplace by leveraging proprietary data science techniques and advanced regression analytics.”
All told, German has some 100,000 active patients, making it a good fit for Toronto-based EuroLife’s cannabis education materials.
“Germany is the first of many European markets in which we will be expanding our platforms, as that market, with a population of over 80 million is a key catalyst for our strategic revenue growth in 2020,” EuroLife CEO Shawn Moniz said in a statement. “We planned for the inclusion of additional language sets in the Cannvas suite of platforms with the goal of expanding into key markets and look forward to adding many more languages as we continue to deliver evidence-based cannabis education to the world.”
EuroLife’s cannabis education repository contains more than 400 physician-backed and educator-approved articles and over 70 courses. An article by the company’s director of strategy and education, Daniel Davidzon, was recently published in the National Post newspaper outlining the need for an education-driven marketplace in Canada and worldwide.
Under the LOI, the companies have contemplated that if a definitive agreement is executed, AgraFlora will issue EuroLife Brands a predetermined amount of share-based consideration.
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