Sativa Investments (LON:SATI) announced it had entered a commercial offtake agreement with a Swiss supplier of cannabis oil on Friday.
Alponics SA will provide Sativa with CBD distillate and isolate until the end of 2022.
Geremy Thomas, founder and Chief Executive Officer of Sativa Investments, said: “This commercial agreement with Alponics further advances our smart-sourcing strategy. We look forward to a long and mutually beneficial relationship with Alan Chaytor and his impressive team.”
Alan Chaytor, founder of PACRIM, said: “We are delighted to be supplying Sativa and look forward to working with the Company in the coming years. Our expert team, along with our past experience in delivering to some of the world’s best-known household brands, allows us to provide Sativa with the best products and outstanding customer service.”
Late last month shares rose on news that Sativa had secured a similar offtake agreement with MeridianTulip, a Portugese supplier.
Sativa Investments has been listed on the NEX Exchange as of March 2018. It was the first London-listed cannabis investment firm.
Elsewhere in the cannabis sector, Highlands Natural Resources (LON:HNR) revealed it has raised £520,000 as it looks to expand its cannabinoid business, Zoetic.