Item 1.01 Entry into a Material Definitive Agreement.
On
The "Green Side by Side" products line contains natural & herbal formulas from researched and science-based plants arriving in multiple form factors, including oral sprays, capsules , tablets, herbal extracts, and more, and to be offered as complementary products to medical cannabis patients.
The "Green Side by Side" products line is part of Cannovation's strategy to
bring to market plant-based wellness and pharma innovation and products based on
research and development. As previously disclosed, in
Intelicanna is a public company traded on the Tel Aviv Stock Exchange and engaged in plant genetics, agro technologies, product development, and sales & marketing of medical cannabis products.
Under the MOU, Intelicanna was granted exclusive marketing and distribution
rights in
Following the six months period, the parties contemplate entering a successive agreement relating to additional collaboration options. Under the MOU Cannovation will sell to Intelicanna the "Green Side by Side" products line as agreed upon fixed prices, which may be adjusted from time to time, as needed. The MOU also contains provisions typical in transactions of this nature including confidentiality, retention of rights to intellectual property and other related matters.
© Edgar Online, source