One of the National
Capital Region’s burgeoning pot producers has signed a lucrative deal to supply
its concentrated cannabinoids in Brazil.
Gatineau-based LiveWell Canada (TSX-V:LVWL),
which is converting a 550,000-sq-ft
greenhouse in Ottawa’s rural south to a cannabis grow-op,
announced this week that it has entered into a deal to supply a minimum 5,000
kilograms of isolated cannabidiol (CBD) annually to the South American market.
At a value of US$7,000 per kilogram, the deal is worth at least US$35 million
per year with renewal options for the next five years.
"We are seeing evidence of substantial demand in the CBD market. We are delighted to be able to announce our first CBD supply agreement in Brazil and we are in active discussions regarding the balance of our supply for 2019," said LiveWell president David Rendimonti in a statement.
