ASX-listed cannabis industry specialist Elixinol Global Limited (ASX:EXL) through its Dutch based wholly-owned subsidiary, Elixinol BV (Elixinol), has signed an exclusive distribution agreement with 25th Group for retail channels in Belgium and Luxembourg.
Under the terms of the exclusive distribution agreement, the distributor will sell Elixinol branded products via various retail channels for a period of five years.
The exclusivity of the distribution agreement is based on achievement of minimum annual sales targets. Should the sales targets not be met the distribution agreement will become co-exclusive. In addition, the Distributor will be appointed co-exclusive for retail channels including specialty and national retailers in the Netherlands and Switzerland.
Elixinol is undertaking a major expansion to leverage the significant opportunity within the European hemp and cannabis market with this exclusive distribution agreement with 25th Group, as well as a previously announced exclusive distribution agreement with MedVec for the German pharmacy channel
“The distribution agreement with 25th Group allows Elixinol to establish a dominant position across central Europe and launch Elixinol branded products throughout retail channels in Benelux and Switzerland,” Elixinol Global Chief Executive Officer, Mr Stratos Karousos, said.