Kanabo Group’s share price was the biggest mover in London on Tuesday following its announcement that it has signed a production and supply agreement with PharmaCann Polska.
PharmaCann is based in Warsaw, Poland and is part of the PHCANN International Group.
The agreement will see PharmaCann supply cartridges containing Kanabo’s proprietary medicinal cannabis formulations for its VapePod inhalation device. The cartridges will be filled and prepared at PharmaCann’s wholly-owned facility in North Macedonia.
Ready to put what you’ve learned into practice?
Try IG’s platform with £10,000 in virtual funds and practise trading
without putting your own money at risk.
Try IG with a demo account →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Learn the markets with IG Academy
Build your knowledge with IG Academy educational content, then use a
demo account to practise what you’ve learned on the IG platform.
Explore IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
See how trading works before risking real money
IG’s demo gives you access to thousands of markets and £10,000 in
virtual funds, so you can explore the platform and test your ideas first.
Open an IG demo →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Turn trading theory into practical experience
Learn with IG Academy, explore charts and market tools, and practise
strategies in a simulated trading environment before going live.
Start practising with IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Ready to take your learning further?
IG combines market education, analysis and an established trading platform,
giving you the tools to keep learning as you develop your trading skills.
Discover IG →
Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Kanabo said, “this is a second key agreement directed towards establishing a European medicinal cannabis supply chain and builds on the previous announcement of a UK distribution agreement. Kanabo’s CBD Wellness products are already being produced and distributed in the primary markets of UK and Germany.”
PharmaCann and Kanabo will establish a dedicated production line for medicinal formulas that will use filling equipment procured and supplied by Kanabo. Under the agreement, PharmaCann will provide an initial production capacity of up to 36,000 cartridges per month to further increase production when necessary.
“Following the increased fund-raise achieved at the IPO, we are able to accelerate preparations for supply of medicinal cannabis products in addition to building our CBD Wellness business,” said Avihu Tamir, Kanabo’s CEO.
“I am delighted to work with PharmaCann which will enable us to provide medical cannabis vape products to thousands of patients safely and effectively using our medical grade VapePod device,” added Tamir.
Kanabo’s shares closed the day 24.3% higher at 23p per share.
