Seedbank has audited value of more than C$9 million and core to Company's IP strategy
TORONTO, April 28, 2022 (GLOBE NEWSWIRE) -- Franchise Global Health Inc. ("Franchise Global" or the "Company") (TSXV: FGH) is pleased to announce the Company's wholly owned Danish subsidiary, Rangers Pharmaceutical A/S ("Rangers"), has successfully established Europe's first legal and registered seedbank in Copenhagen, Denmark. In 2021 it received a third-party audited value of C$9.5 million.
The seedbank, which is arguably the largest globally, and the 286 strains held within, including several world-class genetics and winners of 19 Cannabis Cups, is a key component to Franchise Global's IP strategy and exemplifies Franchise Global's long-standing heritage to premium quality. The seedbank is licensed to store, sell and export cannabis seeds globally under legal international trade frameworks and import/export permits.
Franchise Global has decided to offer a number of strains to the market and has subsequently signed numerous seed purchase orders and strategic agreements with many emerging cannabis cultivators and wholesalers to further expand global commercialization opportunities. These orders will be fulfilled in the coming quarters, creating a new source of revenue for the Company and solidifying new global strategic alliances. Franchise Global will retain its most distinguished strains for its own internal flower production for global markets.
Franchise Global Executive Chairman and CEO, Clifford Starke, said: "Our goal is to become Europe's most trusted source of high-quality EU-GMP cannabis. This will be achieved in part by establishing our seedbank as a source for high-quality, Cannabis-Cup winning genetics. Essentially this is 30 years worth of IP from land races all around the world with strong genetic heritage including from Thailand, Colombia and other highly sought after sources of origin."
About Franchise Global
Franchise Global, through its subsidiaries, is a multi-national operator in the medical cannabis and pharmaceutical industries, with principal operations in Germany and with operations, assets, strategic partnerships and investments internationally. Franchise Global's business objective is to develop a fully-integrated, leading European medical cannabis business, with the goal of providing high-quality pharmaceutical grade medical cannabis to distribution partners and, ultimately, to patients, at competitive prices.
| For further information, please contact: | |
| Franchise Global Health Clifford Starke, Executive Chairman and CEO | Via Buchanan www.franchiseglobalhealth.com (http://www.franchiseglobalhealth.com/) |
| Media Enquiries Buchanan Jamie Hooper / Ariadna Peretz | Tel: +44 (0) 20 7466 5000 FGH@buchanan.uk.com (mailto:FGH@buchanan.uk.com) |
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