Franchise Global Health said its wholly owned Danish subsidiary, Rangers Pharmaceutical, has successfully established Europe's first legal and registered seedbank in Copenhagen, Denmark. In 2021 it received a third-party audited value of C$9.5 million.
The seedbank and the 286 strains held within, including several genetics and winners of 19 Cannabis Cups, is a key component to Franchise Global's IP strategy. The seedbank is licensed to store, sell and export cannabis seeds globally under legal international trade frameworks and import/export permits.
Franchise Global has decided to offer a number of strains to the market and has subsequently signed numerous seed purchase orders and strategic agreements with many emerging cannabis cultivators and wholesalers to further expand global commercialization opportunities. These orders will be fulfilled in the coming quarters, creating a new source of revenue for the Company and solidifying new global strategic alliances. Franchise Global will retain its most distinguished strains for its own internal flower production for global markets.
"Our goal is to become Europe's most trusted source of high-quality EU-GMP cannabis. This will be achieved in part by establishing our seedbank as a source for high-quality, Cannabis-Cup winning genetics. Essentially this is 30 years worth of IP from land races all around the world with strong genetic heritage including from Thailand, Colombia and other highly sought after sources of origin," said Franchise Global Executive Chairman and CEO Clifford Starke.