Oboya signs a framework agreement with Aureum Life AB
Oboya Horticulture Industries AB ("Oboya" or "The Company") has signed an unconditional framework agreement with Sweden's first cannabis company Aureum Life AB ("Aureum") and operates in research, production and sales of medical cannabis. The ambition of the agreement is for Oboya to become a total supplier to Aureum by offering a comprehensive solution for Aureum's future development of cultivation facilities around the world. The framework agreement does not impose any obligation on orders from Aureum and as a first step in the collaboration, a study will be conducted in which Aureum's needs will be analyzed
Aureum and Oboya have discussed a potential collaboration where Aureum uses Oboya as a total supplier for the construction of Aureum's cultivation facilities around the world. In the coming years, Aureum plans to build a number of cultivation plants in the world. The first cultivation plant with a cultivation area of about 6,000 sqm in Greece is planned by Aureum until spring 2020. Subsequently, additional cultivation plants are planned in Zimbabwe and Swaziland (autumn 2020), Uruguay (spring 2021) and any plant in either Denmark, the Netherlands or Portugal. Aureum has shown interest in the Company's product range in hydroponic cultivation as well as cultivation products such as pots, plant lighting, transport trolleys and more.
Aureum and Oboya signed an unconditional framework agreement. The framework agreement imposes no obligation on orders from Aureum and as a first step in the collaboration, a study will be conducted in which Aureum's needs will be analyzed. Through the agreement, the parties intend to develop long-term cooperation for the cultivation of medical cannabis.
About Aureum Life AB
Aureum is Sweden's first cannabis company and operates in research, production and sales of medical cannabis. Aureum Life works with cannabis for medical use and focuses on several therapy areas; tremor, multiple sclerosis (MS), cerebral palsy (CP), neuropathic pain, epilepsy, stress disorder and chronic fatigue syndrome (ME). In addition, Aureum plans to become the first in the world with medical cannabis in the form of buccal cushion (cannabis snus). In the coming years, Aureum plans to build a number of cultivation plants in the world, in order to support its own production and development of medical preparations.
Aureum's cultivation business begins with seeds and cuttings in cultivation plants, which then develop into basic substances and active substances for research and production of life-enhancing medicines for patients worldwide. More information about Aureum can be found at www.aureumlife.se.
“It is gratifying that we sign a framework agreement with Sweden's first cannabis company where the ambition is for Oboya to act as a total supplier for the construction of Aureum's cultivation facilities around the world. The agreement enables another important step into the growing market for medical cannabis,” says Robert Wu CEO of Oboya.
“Oboya is an international group within the cultivation industry with its own factories and international distribution channels, which suits us where we can order cultivation products under one and the same roof. In addition, Oboya can offer us cultivation products made of either recyclable plastics or Swedish biomaterials, which is in line with Aureum's sustainability policy when we build our cultivation facilities,” says Therese Nader CEO of Aureum.
Erik Penser Bank is Oboyas Certified Adviser at Nasdaq First North. Tel: + 46 8-463 83 00
For any inquiry regarding this press release, kindly contact:
Robert Wu, CEO of Oboya Horticulture Industries AB (publ)
Phone: + 86 159 6983 5999
About Oboya Horticulture Industries AB
Oboya Horticulture aims to become a world-leading total supplier of consumables and logistics products for the cultivation industry as well as consumer products for home cultivation and indoor environments. Production takes place in factories in China, Poland, Vietnam and Kenya. More information about the company is available at www.oboya.se.