Oboya signs strategic framework agreement in China
Oboya Horticulture Industries AB ("Oboya" or "The Company") has, through its wholly-owned subsidiary in China, signed an unconditional framework agreement with a leading cultivation company in industrial cannabis during the ongoing China International Import Expo trade fair.
Oboya has signed an unconditional framework agreement with a leading industrial cannabis cultivation company in China. The agreement does not impose any obligation to order. As a first step in the collaboration, a study will be conducted where the customer's needs are to be analyzed.
The total order value for ongoing orders during 2020 is estimated to amount to about CNY 9.5 million, corresponding to about SEK 13.1 million. The framework agreement enables an important step into the growing market for medical cannabis and an increased presence in the Chinese cultivation market in general.
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.