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Cannara Biotech Strikes Long-Term Supply Agreement With Curaleaf

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Cannara Biotech (LOVE.TO) on Tuesday said it sealed a deal with Curaleaf (CURA.TO) to supply bulk cannabis flower for export to international markets.

The agreement, Cannara's first long-term international supply commitment, is valued at up to C$21 million if fully-realized.

The company has opened two additional cultivation zones at its Valleyfield facility in Quebec, to bring total zones in production to 14 out of 24 grow zones of 25,000 square feet each.

To meet the expected commercial demand, Cannara will also activate four additional cultivation zones by the end of fiscal 2027. This is projected to hike annual production capacity to 75,000 kilograms, enabling Cannara to reach its targeted production capacity one year ahead of its original fiscal 2028 timeline.

Cannara shares were last seen up C$0.10, or 5.6%, to C$1.89 on the Toronto Stock Exchange.

Price: $1.89, Change: $+0.10, Percent Change: +5.59%

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