Business
Signing of MoU with Demecan Holding
Signing of MoU with Demecan Holding.
About this update from Hellenic Dynamics Plc
[{"type":"text","content":"\n\nHellenic Dynamics plc\n(\"Hellenic Dynamics\" or the \"Company\")\n Signing of MoU with Demecan Holding (\"Demecan\")\n \n- Demecan is the only vertically integrated independent German company licensed to grow, process and distribute medical cannabis in Germany\n- MoU is the first commercial agreement under Hellenic's expanded strategy into contract cultivation\n- Advanced discussions underway with a number of other licenced European distributors for POD agreements\n \nLondon, 13 June 2023: Hellenic Dynamics plc (LSE: HELD), the specialist cultivator and supplier of tetrahydrocannabinol (\"THC\") dominant strains of medical cannabis flowers, announces it has signed a Memorandum of Understanding (\"MoU\") with Deutsche Medizinalcannabis GmbH which trades as Demecan Holding for the cultivation and supply of medical cannabis flowers.\n \nDemecan is the only licensed independent German company that covers the entire value chain for medical cannabis from cultivation through processing to distribution. Demecan works with producers of medical cannabis worldwide to ensure a reliable and continuous supply of medical cannabis for patients in Germany.\n \nThis MoU represents the first commercial agreement for Hellenic Dynamics under the expanded contract cultivation strategy it announced last week whereby it will allow, for the first time, medical cannabis distributors to have their own dedicated white label cultivation facilities by way of a Hellenic Dynamics Product Outsourcing Development (\"POD\") agreement.\n \nUnder the MoU, Hellenic Dynamics will grow and supply medical cannabis flowers from Demecan provided cultivars in an indoor cultivation area of 1,000 square meters capable of producing circa 1,200 kg of medical cannabis flowers per annum under Good Agricultural and Collection Practice (\"GACP\"). Demecan will then process the delivered flowers in its own EU-GMP facilities for onward sale to the German market. It is anticipated that the binding agreement with Demecan will be in place in line with Hellenic Dynamics' cultivation strategy, as per the Company's previous announcement.\n \nHellenic Dynamics is also in discussions with a number of other licensed European distributors, who have their own GMP processing facilities for similar POD agreements....