Canada-based MYM Nutraceuticals (CSE:MYM) announced today that it has entered a two-year agreement with Dutch Passion—an Amsterdam-based cannabis seed developer and distributor. The partnership will see the production and distribution of Dutch Passion branded products and seed genetics in Australia.
MYM Nutraceuticals & Dutch Passion
Who is Dutch Passion? The company is over 30 years old and is heralded as the second oldest European cannabis-seed company. It is considered a leading innovator of seed genetics and prides itself on having developed its own proprietary genetics with a seed collection of international cannabis genetics dating back to the 1970s.
Dutch Passion also invented feminized cannabis seeds in the 1990s and, more recently, helped pioneer the success of high-THC auto-flowering cannabis seeds.
"We are thrilled to be working with Dutch Passion in Australia. With over 30 years experience in the development and distribution of cannabis seeds, they are considered to be world leaders," said Rob Gietl, CEO of MYM.
So What's in the Agreement?
Dutch Passion has agreed to give MYM exclusive rights to produce and distribute under the Dutch Passion brand in Australia. These rights include all current products that Dutch Passion sells along with new products the company may sell in the future. Included products are clones, flowers, pre-rolled joints and other cannabis products.
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The agreement also gives MYM non-exclusive rights in Australia to produce and/or distribute cannabis seeds under the Dutch Passion brand, making Dutch Passion, MYM's flagship brand for cannabis seeds on sale in Australia. MYM will also now be listed as an official distributor of products in Australia.
Due to favorable growing conditions and climates along with low-production costs, Australia is gearing up to be one of the world's leading exporters of Cannabis products.
As cannabis is rapidly becoming more legal across the globe, demand for seed genetics has been increasing. The partnership seems to have been a clever forward-looking decision and MYM Stock is reacting well to the news; currently sporting a healthy green 8.4% gain.
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