ECS Botanics has entered into a five-year agreement with Polish company Alivio Spolka to supply medicinal cannabis products worth a minimum A$4.5 million in revenue.
The deal will see ECS supply $900k worth of GMP-manufactured medicinal cannabis products per annum, with the ability to scale up sales volumes over time. The first supplies are expected later this year following the completion of product registration.
Managing director Alex Keach said the company continues to build a strong sales pipeline for Australia and international markets. He added: “This agreement highlights the increasing demand for our Australian-grown product and marks the scale up of our global export sales initiatives.”
Executive director Nan-Maree Schoerie said: “We look forward to the ongoing supply of affordable, quality medicinal cannabis to our growing number of Australian customers, in addition to continuing to develop our export business.”
In June, the company told the ASX it expects sales to reach $2 million by the end of CY2021, driven by new customer contracts and an increasing demand for Australian-grown medicinal cannabis.