SEED Innovations Ltd (AIM:SEED) portfolio company Eurox Group has signed a distribution agreement with Materia Deutschland, a processor and distributor of medical cannabis and CBD wellness products across Europe.
Materia will become one of Eurox’s selected distribution partners for its medicinal cannabis extracts, SEED added.
Ed McDermott SEED’s chief executive, said: “We are very pleased to see Eurox-branded products, that are all locally produced in Germany, being utilised in a distribution agreement with Materia.
“Over the coming weeks and months, we expect to see a number of distribution avenues through pharmaceutical distributors and medical cannabis distributors for the ‘made in Germany’ Eurox-brand whilst they continue to grow their range of products.
SEED has an 8.85% interest in Eurox, which is a Germany-based, vertically integrated medical cannabis company.