Western Australia-based medical cannabis grower Little Green Pharma (ASX:LGP)
has sealed a supply deal and stamp a foothold in the Scandinavian health and recreational pot market.
The $143 million company has officially become a supplier of medical cannabis oil and flowers to Danish distributor Balancial. The term of the agreement is 5 years, during which Little Green Pharma’s product prices will remain unchanged.
The deal marks the expansion of the ASX-listed pot grower’s European distribution network to Northern Europe from its existing Western European markets of Germany and France.
After listing on the ASX in February 2020, The company ignored pandemic challenges and went on to gain 145 per cent in share value in its first year as a listed company. FY21’s third quarter has also recorded a 24 per cent rise the Perth cannabis firm’s share price.
Shares in Little Green Pharma (ASX:LGP)
are trading 3.3 per cent higher at 79 cents