CannapharmaRx to Complete Additional Shipment in November
Rhea-AI Summary
CannaPharmaRx (OTC PINK:CPMD) reports continued progress at its Cremona, Alberta facility with uninterrupted cannabis cultivation despite CEO Dean Medwid's resignation in September. The company has completed two shipments to Israel and is preparing a third shipment of approximately 300 kg at CAD 2.10 per gram. An additional 250 kg order for Israel is scheduled for delivery this quarter. CannaPharmaRx expects regular orders and shipments throughout 2025, projecting significant revenue growth. The company is also in preliminary discussions with European companies to expand its international distribution network.
Positive
- Successfully completed two shipments to Israel
- Secured new order for 250 kg shipment to Israel
- Third shipment of 300 kg in preparation at CAD 2.10 per gram
- Operations continued uninterrupted despite CEO resignation
- Expanding international market presence through discussions with European companies
Negative
- Recent CEO resignation indicates management instability
News Market Reaction 1 Alert
On the day this news was published, CPMD declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
CALGARY, AB / ACCESSWIRE / November 5, 2024 / CannaPharmaRX, Inc. (OTC PINK:CPMD), a future leader in cutting-edge, highly efficient cannabis production, is pleased to announce continued progress at its Cremona, Alberta facility, where cannabis cultivation remains on track according to the company's annual plan. Following the resignation of CEO Dean Medwid in early September, the company has been able to maintain uninterrupted operations while fulfilling and delivering its orders.
Recent Shipments to Israel
CannaPharmaRx has completed two shipments of its products to purchasers in Israel. A third shipment of approximately 300 kg is currently in the final stages of preparation and is expected to be dispatched in the near term. The average price for the third shipment is projected at CAD 2.10 per gram, with final pricing based on batch quality and THC results.
Additionally, an order for a shipment of 250 kg of company product to Israel has been received and is scheduled for delivery during the current quarter.
The company anticipates a regular cadence of orders and shipments during 2025 resulting in significant revenue growth next year.
Following the successful launch of the company's products in Israel, CannaPharmaRx is in preliminary discussions with companies in Europe and elsewhere internationally to increase the distribution of our products and to establish a global presence.
Contact:
Company: CannapharmaRx
Name: Constanitne Nkafu
Website: https://cannapharmarx.com
Phone: 403-637-0420
Mail: info@cannapharmarx.com
SOURCE: CannaPharmaRx
View the original press release on accesswire.com
FAQ
What is the size and price of CannaPharmaRx's (CPMD) upcoming third shipment to Israel?
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