CanniMed Therapeutics Inc. contemplates it has entered into a definitive agreement with PharmaChoice to supply herbal, fuels and oil derivative cannabis products to its more than 750 pharmacy situations across Canada.
It is the second such deal announced this week, after Aphria Inc. harbingered it has entered a five-year agreement to supply pharmacy chain Shoppers Panacea Mart with medical cannabis.
Saskatoon-based CanniMed says PharmaChoice has gave to have it as sole supplier of cannabis products, subject to CanniMed caucus certain product and volume requirements.
Earlier this year, CanniMed signed a missive of intent with member-owned co-operative PharmaChoice to be its exclusive medical cannabis distributor and to exercise its pharmacists and pharmacy technicians.
The company says its deal with PharmaChoice is still conditional on Form Canada’s approval of medical cannabis product distribution through chemists shops.
CanniMed’s supply agreement comes a day after it was notified that the Toronto Reservoir Exchange will defer consideration of a shareholder rights plan took by the company in a bid to defend itself against a hostile takeover offer by Aurora Cannabis Inc.
The set uprights plan prevents Vancouver-headquartered Aurora from acquiring any CanniMed pieces other than those tendered to its hostile bid or from entering into any lock-up concordats other than those it has already signed and filed, CanniMed has said.