Innocan Pharma Corporation (CSE:INNO) said Thursday that it inked a deal to distribute its CBD line of beauty and pharmaceutical products in Italy and Switzerland.
The distribution agreement with Cloud 9 Switzerland LLC will see it sell Innocan’s SHIR Beauty and Relief & Go lines in the two countries, according to a release.
Iris Bincovich, Innocan’s CEO, expressed the company’s excitement to see its products distributed in Italy and Switerland.
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“This is the second distribution agreement we have signed in Europe,” Bincovich said in a statement. “I believe Cloud 9 will provide professional distribution of our SHIR and Relief & Go product lines."
Cloud 9 and its subsidiaries are active in the health and wellness sectors by developing, producing and commercialising hemp- and cannabis-based pharmaceuticals and nutraceuticals.
"In these extraordinary times, cannabis-based pharma and cosmetic products respond to consumers' desires for a more natural and healthy lifestyle,” Cloud 9’s managing director Dr Francis Scanlan said in a statement.
“Innocan has a proven high-level expertise and shared vision making them an ideal partner for us to develop these new markets.”
Also in Thursday’s statement, Innocan said it has engaged AGORACOM for a 12-month online marketing campaign to broaden its pool of potential investors. In consideration, Innocan will pay $75,000 worth of shares payable in five equal installments during the period from August 2020 to July 2021.
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