NEWS RELEASE – Canngea Pty Ltd and Spring Sciences Australia Pty. Ltd. (“SSA”) are pleased to announce the companies have entered a Supply Agreement. Under the terms of the agreement, SSA will supply Canngea with a range of high-quality cannabinoid distillates and flower produced at its Caboolture medicinal cannabis growing and extraction facility. Canngea intends to utilise the distillates and flower in its exclusive range of medicinal cannabis products to be supplied to the Australian and International markets.
Brisbane and Sydney based Canngea is rapidly expanding in its goal to be the leading medical cannabis manufacturer, storage, and wholesale distributor in Australasia, with a vision to bridge the gap between ancient and contemporary medicine for a better quality of life.
SSA is a part of the Spring Sciences Group, a US-based cannabis cultivator and manufacturer, and is currently constructing an advanced indoor cultivation and manufacturing facility in the Caboolture Region of Queensland.
SSA is licensed for the cultivation, manufacture, and supply of medicinal cannabis products and Canngea for manufacture and supply.
The initial agreement will see SSA deliver 6,000kg of cannabinoid distillate and represents the start of a long-term commercial partnership. This partnership will ensure the supply of a premium range of domestically grown and manufactured medicinal cannabis products for the rapidly expanding Australian market.
“We are extremely pleased to have partnered with Canngea to supply them with a range of distillate and flower products. SSA’s growing and extraction facility is scheduled for commissioning in Q3 of this year. This agreement represents the first domestic supply agreement for SSA and to have secured the support of Canngea represents a major step forward for our company and our goal to become the pre-eminent supplier of premium flower and distillate products in Australia”, remarked Dr Steven Newbery, CEO of SSA.
“We strongly believe Canngea’s stated mission to bridge the gap between ancient and contemporary medicine for a better quality of life is very closely aligned with our own active for life philosophy and we look forward to expanding our business dealings further in achieving this aim.” Dr Newbery added.
The agreement between both entities will consolidate access for Australians to quality cannabis-derived products from an industry-leading group in Canngea underpinned by SSA’s commitment to quality through the utilisation of the latest technological innovation at its Caboolture cultivation and manufacturing facility.
Ryan Ballantyne, Managing Director of Canngea commented on the partnership, “As we continue to grow, with strong demand in both the domestic and international markets, we’re excited to partner with an advanced, technology-driven supplier like Spring Sciences. This agreement further secures our domestic supply capabilities and allows us to provide a greater range of specialised products to our clients.”
Mr Ballantyne went on to say, “Spring Sciences are already developing a number of specialised products in their US operations utilising leading-edge technologies and contemporary grow methods. We’re looking forward to their Australian operations reaping the rewards of this work and being able to supply Canngea with a superior quality product for our client’s benefit.”
This exciting partnership is a significant step forward for both Spring Sciences Australia and Canngea and has illuminated a natural synergistic relationship between the culture and objectives of the two companies; each motivated and focused on the health and wellness of its clients’ base. The companies are well-positioned to play a meaningful role in the developing medicinal cannabis market in Australia through the production and distribution of the highest-quality flower and oils.
