Flora Growth today reaffirms its medical cannabis supply agreement with Curaleaf Holdings, Inc. subsidiary Northern Green Canada, Inc. This morning, Curaleaf also confirmed on X (formerly known as Twitter) that “Curaleaf has entered into an agreement to supply cannabis products to Flora Growth for distribution through Flora in Germany.
Although on October 30 and 31, 2024, Curaleaf tweeted that there was "no agreement in place between Curaleaf and Flora Growth Corp," the parties have now confirmed the supply agreement-first dated October 28, 2024 and, as revised and fully executed, dated October 31, 2024, by and between Flora and Northern Green Canada, an affiliate of Curaleaf.
Pursuant to the terms of the agreement, Northern Green agreed to supply Flora with medicinal cannabis products, with Flora to distribute such products in the German market. The deal provides for a minimum purchase obligation and a minimum supply obligation on Flora and Northern Green, respectively, subject to certain terms and conditions. All product received by Flora under the New Supply Agreement must be used solely for medicinal purposes, and Flora cannot re-sell or otherwise transfer any product to a third party for non-medical use without the prior written consent of Northern Green. The agreement is a limited transaction and is not a broader, ongoing commercial relationship with Curaleaf.
The new agreement replaces the previously existing cannabis supply agreement, by and between Terra Verde LDA, an affiliate of Curaleaf, and ACA Müller ADAG Pharma Vertriebs GmbH, an affiliate of Flora, dated as of February 18, 2020, which provided for the supply of medicinal cannabis products by LDA to ACA Müller, with ACA Müller to distribute such products in the German market.
