TetraPharma Royalty Corp. Successfully Facilitates Monumental Delivery of 1.8 Metric Tonnes (1,800 kilograms) of High THC-Concentrated Medicinal Cannabis Flower from South America into Europe; Completes Pathfinder Delivery of High THC-Concentrated Medicinal Cannabis Flower from Argentina to North Macedonia.
TetraPharma Royalty Corp. (the “Company” or “TetraPharma”) is extremely proud to announce its facilitation of two monumental international deliveries of high-grade medicinal cannabis flower once again into Europe. On October 27, 2023, the Company successfully facilitated the delivery of 1.8 metric tonnes (1,800 kilograms) of high-grade medicinal cannabis flower from Colombia (the “Colombian Cannabis”) to North Macedonia (the “Colombian Shipment”). The Colombian Cannabis, containing tetrahydrocannabinol (“THC”) concentration levels as high as 28%, was successfully received and cleared by the Company’s 50%-owned North Macedonian subsidiary, Instadouz Farma Doo, Strumica (“IFD Macedonia”), where it will now be sold into the European pharmaceutical marketplace. The Colombian Shipment represents the single largest legal entry ever of medicinal cannabis from Colombia into Europe.
In addition to the Company’s successful completion of the Colombian Shipment, on October 18, 2023, TetraPharma successfully facilitated the pathfinder delivery of 0.072 tonnes (72 kilograms) of high-grade medicinal cannabis flower from Argentina (the “Argentine Cannabis”) to North Macedonia where it was successfully received and cleared by IFD Macedonia (the “Argentine Shipment”). The Argentine Shipment, containing THC concentration levels as high as 24%, was completed by and between IFD Macedonia and Cannabis Avatára Socieded Del Estado, a representative state company of the government of the Argentine Republic (“Argentina”). The Argentine Shipment, containing pre-approved buyer genetics, represents the first-ever international delivery of medicinal cannabis by the Government of Argentina containing high levels of THC. Today, 6.0 tonnes (6,000 kilograms) of Argentine Cannabis have been cultivated and packaged for pending delivery to IFD Macedonia later this month (the “Pending Argentine Shipment”).
The completion of both the Colombian Shipment and Argentine Shipment are historically significant for they:
(i) officially open Colombia and Argentina as the Company’s second and third major sources of medicinal cannabis (this time high-grade flower) destined for the European pharmaceutical marketplace. This is in addition to the Company’s previously announced delivery of 15 metric tonnes (15,000 kilograms) of outdoorgrown bio-certified organic medicinal cannabis containing THC concentration levels between 15% to 20% (the “Malawi Cannabis”) from Lumbadzi, Malawi to Skopje, North Macedonia completed on September 28, 2023 (the “Malawi Shipment”).
(ii) signify the second and third of many milestones the Company will complete in concert with IFD Macedonia and its joint-venture and distribution partners around the world;
(iii) represent a second and third step towards validating the legitimacy and strength of the Company’s growing, cultivation, production, and global distribution platform for medicinal cannabis biomass, flower, crude oil, distillate, and isolate products containing high concentration levels of THC (the “Global Distribution Platform”) as well as other original claims and business efforts previously made and carried on by the company formerly known as Instadose Pharma Corp. (“Instadose Pharma”), its officers, and directors;
(iv) support what TetraPharma believes to be the official opening of the commercial gateway for European pharmaceutical companies looking to secure large, sustainable, consistent, diverse, and low-cost supplies of high-quality medicinal cannabis, crude oil, distillate, and isolate containing high concentrations of THC for use in bulk as an active pharmaceutical ingredient; and
(v) from a Company shareholder perspective, further supports the Company’s generation of its first revenues.
Next Steps for the Malawi Cannabis
The Malawi Cannabis has now been re-exported from North Macedonia into the European Union for the extraction and sale of crude oil, distillate, and isolate products for the European pharmaceutical marketplace.
Next Steps for the Colombian Cannabis
The Colombia Cannabis is now in the process of being sold into the European pharmaceutical marketplace.
Next Steps for the Argentine Cannabis
The Argentine Cannabis has now successfully set the stage for future deliveries of Argentine Cannabis into North Macedonia, all of which will be destines for the European pharmaceutical marketplace, beginning with the Pending Argentine Shipment.
TetraPharma’s Medicinal Cannabis Production and Special Dividend Distribution Strategy
The Company’s management team remains in the process of finalizing TetraPharma’s medicinal cannabis production and special dividend distribution strategy for the next twelve (12) months. Once complete, an update will be provided to all TetraPharma shareholders.
The Share Exchange
Reference is made to the previous update provided by IDP Holdings (USA) Corp. (“IDP USA”) to its shareholders on September 19, 2023 (the “Shareholder Letter”). As specified in the Shareholder Letter, TetraPharma successfully completed its purchase of TetraPharma (Canada) Ltd. (“TetraPharma Canada”) from IDP USA (the “Acquisition”). In completing the Acquisition, TetraPharma agreed to, among other things, carry on the business formerly conducted by Instadose Pharma and provide all IDP USA shareholders with the opportunity to exchange their shares of common stock of IDP USA for shares of common stock of TetraPharma on a 1:1 basis (the “Share Exchange”). To participate in the Share Exchange, all IDP USA shareholders are reminded (if they have not yet done so) to complete and return both the Reorganization Agreement and Plan of Share Exchange and Shareholder Consent previously delivered to them by email. To those parties who still have not yet submitted their outstanding letters of transmittal dating back to TetraPharma Canada’s previously completed plan of arrangement with IDP USA in December 2021 (the “Plan of Arrangement”), you are also kindly asked to do so at your earliest convenience. Please contact Loren S. Greenspoon by email at lgreenspoon@tetrapharmarc.com with any questions you may have pertaining to the Share Exchange and/or Plan of Arrangement.
A Note on Forward Looking Statements
This Company update may contain forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws relating to the Company's plans and other aspects of our anticipated future opportunities. Forward-looking information typically uses words such as "anticipate", "believe", "continue", "trend", "sustain", "project", "expect", "forecast", "budget", "goal", "guidance", "plan", "objective", "strategy", "target", "intend", "estimate", "potential", or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future, including statements about our plans, focus, objectives, priorities and position. In particular, and without limiting the generality of the foregoing, this Company update contains forward-looking information with respect to our upcoming shipments of medicinal cannabis and future plans for the issuance of special dividends or distributions to Company shareholders. The forward-looking information is based on certain key expectations and assumptions made by the Company’s board of directors and management team. Although we believe that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Since forwardlooking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. Our actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that we will derive therefrom. Management has included the above summary of assumptions and risks related to forward-looking information provided in this Company update in order to provide security holders with a more complete perspective on our future operations and such information may not be appropriate for other purposes. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this Company update and we disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.
TetraPharma (formerly Instadose Pharma Corp.) Facilitates Successful Delivery of the Largest Legal Shipment of High-THC Concentrated Medicinal Cannabis in the History of Narcotics.
TetraPharma Royalty Corp. and its wholly owned Canadian subsidiary formerly known as Instadose Pharma Corp. (collectively, “TetraPharma”) are extremely proud to announce the successful completion of the monumental delivery of 15 metric tonnes (15,000 kilograms) of GACP Certified medicinal cannabis comprising Malawi Gold strains of land raised cannabis containing tetrahydrocannabinol (“THC”) concentration levels exceeding 22% (the “Malawi Gold Cannabis”). Instadouz Farma Doo, TetraPharma’s 50%-owned North Macedonian subsidiary (“IFD Macedonia”), was responsible for successfully importing the Malawi Gold Cannabis into Skopje, North Macedonia on September 28, 2023, which was delivered from Lumbadzi, Malawi by TetraPharma’s joint-venture partner, NexGen Medical Limited (“NexGen Medical”). The entirety of the Malawi Gold Cannabis was purchased by IFD Macedonia under a supply agreement with NexGen Medical. Regulatory authorities in both the Czech Republic and Switzerland have now cleared the Malawi Gold Cannabis for export by IFD Macedonia into their respective countries for extraction at EU-GMP certified facilities into cannabinoid oil, distillate, and isolates. Once extracted, all of the cannabinoid oil, distillate, and isolates will be sold to European pharmaceutical buyers for use in bulk as an active pharmaceutical ingredient (“API”) in the production of, among other things, new medicines. The pending import of the Malawi Gold Cannabis into the European Union represents an unprecedented endeavour, one that has taken nearly five years for TetraPharma (through the persistent efforts of its current and past executive teams) to successfully achieve.
Since 2019, TetraPharma has been steadfast in its desire to create an outdoor growing, cultivation, production, and global distribution platform for medicinal cannabis containing high concentration levels of THC (the “Global Distribution Platform”). In what would become a key pillar of TetraPharma’s Global Distribution Platform, both NexGen Medical and TetraPharma have been hard at work for more than 36 months developing an agricultural plan in Malawi that could establish security and the availability of high THC-concentrated medicinal cannabis for the European pharmaceutical marketplace. Today, NextGen Medical is the first company in Malawi legally permitted to grow and export high THC-concentrated medicinal cannabis from the country.
As stated by Salim Makani, President of NexGen Medical, “TetraPharma’s development and collaboration with NextGen has created a truly sustainable agricultural industry for the people of Malawi. I am elated with the outcome of the long-awaited cultivation and exportation of this volume of medicinal cannabis. All government parties of Malawi have supported the cause and are very optimistic of the future of this endeavor.” Hundreds of acres of additional land have been prepared in anticipation of further cultivation, to be able to supply the needs of the global pharmaceutical market. According to Mr. Makani, NextGen, in cooperation with the CRA of Malawi, and the Ministry of Agriculture, are highly committed to establishing an increased steady monthly supply of medicinal cannabis, such as the Malawi Gold Cannabis, for import by IFD Macedonia. Spurring the Malawi government’s present involvement in TetraPharma’s Global Distribution Platform is a mandate to use this growing medium as a method to create employment within the country’s agricultural sector. The Malawi government is further committed to maintaining aggressive development for the expansion of food securitization for the local Malawi market. Mr. Makani expressed, “although this is an exciting and landmark event for our country of Malawi, we must also remain focused on developing educational programs regarding the agricultural science of medicinal cannabis. This is necessary given that Malawi has one of the most stringent regulatory standards for growing medicinal cannabis in order to ensure legal compliance with law enforcement.”
According to TetraPharma’s CEO Antonio Franchino, “The successful delivery of the Malawi Gold Cannabis represents what we believe to be the official opening of the commercial gateway for European pharmaceutical companies looking to secure large, sustainable, consistent, diverse, and low-cost supplies of high-quality medicinal cannabis, cannabinoid oil, distillate, and isolates containing high concentrations of THC for use in bulk as an API. We are excited to follow up this first historic Malawi shipment with consistent and continuous larger supplies of high THC-concentrated medicinal cannabis into Europe in order to show European pharmaceutical buyers that we can be relied upon as a large supplying partner for the long term.” A key element underlying the strength of TetraPharma’s relationship with NexGen Medical and the Malawi government lies in TetraPharma’s focus on sustainable, long-term agreements with its international partners that are designed to give back to the people and protect the natural environment in the countries in which its growing partners reside. In doing so, TetraPharma aims to increase the quality of life, provide jobs, fresh water, education, food security and capital to and for those located within the growing regions of its partners.
The successful import of the Malawi Gold Cannabis is more than 7x larger than IFD Macedonia’s previously announced record shipment of 2.125 Metric tonnes (2,125 kilograms) of medicinal cannabis delivered from Johannesburg, South Africa to Skopje, North Macedonia previously announced on January 5th 2022.
About TetraPharma
TetraPharma is comprised of a U.S.-based holding company (“TetraPharma Royalty Corp.”) and its wholly owned operating Canadian subsidiary (“TetraPharma (Canada) Ltd.”). TetraPharma Royalty Corp.’s primary function is to oversee TetraPharma (Canada) Ltd.’s management decisions in connection with its running of its day-to-day operations which includes, among other things, overseeing the operation of the Global Distribution Platform. The other functions of TetraPharma Royalty Corp. include receiving TetraPharma’s share of the revenues generated by the Global Distribution Platform from the sale of medicinal cannabis, cannabinoid oil, distillate, and isolates to European pharmaceutical company buyers, paying TetraPharma’s operating, capital expenditure, and working capital costs, as well as distributing funds to shareholders of TetraPharma Royalty Corp. in the form of a special dividend or royalty payment if and when declared, less any approved reserves for future expansion of the Global Distribution Platform.
TetraPharma is establishing a large commercial Global Distribution Platform for medicinal cannabis, cannabinoid oil, distillate, and isolates. TetraPharma endeavors to utilize the Global Distribution Platform to open the commercial gateway to a new wholesale marketplace capable of providing pharmaceutical industry companies with large, sustainable, consistent, diverse, and low-cost supplies of high-quality medicinal cannabis and cannabinoid oils containing high concentration levels of THC for use in bulk as an API in the production of, among other things, new medicines.
Today’s active Global Distribution Platform spans three (3) continents to date, including Africa, South America, and Europe. Within each continent, the Company has established operational subsidiaries, distributorships, and/or long-term joint venture partnerships in countries such as North Macedonia, Switzerland, Malawi, Colombia, and Argentina with a focus on securing access to government-issued licenses and permits to, among other things, grow, cultivate, collect, process, produce, import, export, and sell medicinal cannabis and cannabinoid oils containing high percentage concentrations of THC. Today, TetraPharma’s business, as well as the businesses of each of the individual business units comprising the Global Distribution Platform, is organized, and structured in such a way as to minimize the Company’s risk and resulting consequences of non-compliance with, among other U.S. rules and regulations, The Controlled Substances Act.
Forward Looking Statement
This press release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable securities laws relating to the TetraPharma's plans and other aspects of our anticipated future opportunities. Forward-looking information typically uses words such as "anticipate", "believe", "continue", "trend", "sustain", "project", "expect", "forecast", "budget", "goal", "guidance", "plan", "objective", "strategy", "target", "intend", "estimate", "potential", or similar words suggesting future outcomes, statements that actions, events or conditions "may", "would", "could" or "will" be taken or occur in the future, including statements about our plans, focus, objectives, priorities and position. In particular, and without limiting the generality of the foregoing, this press release contains forward-looking information with respect to our upcoming shipments of medical cannabis. The forward-looking information is based on certain key expectations and assumptions made by our Board and Management. Although we believe that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because TetraPharma can give no assurance that they will prove to be correct. Since forward-looking information addresses future events and conditions, by its very nature they involve inherent risks and uncertainties. Our actual results, performance or achievement could differ materially from those expressed in, or implied by, the forward-looking information and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits that we will derive therefrom. Management has included the above summary of assumptions and risks related to forward-looking information provided in this press release in order to provide security holders with a more complete perspective on our future operations and such information may not be appropriate for other purposes. Readers are cautioned that the foregoing lists of factors are not exhaustive. These forward-looking statements are made as of the date of this press release and we disclaim any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events, or results or otherwise, other than as required by applicable securities laws.
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