Elixinol Global Limited is pleased to announce that its Dutch-based wholly-owned subsidiary, Elixinol BV (Elixinol), has signed an exclusive distribution agreement with 25th Group (Distributor) for retail channels in Belgium and Luxembourg.
Under the terms of the exclusive distribution agreement, the Distributor will sell Elixinol branded products via various retail channels for a period of five years.
The exclusivity of the distribution agreement is based on achievement of minimum annual sales targets. Should the sales targets not be met the distribution agreement will become co-exclusive. In addition, the Distributor will be appointed co-exclusive for retail channels including specialty and national retailers in the Netherlands and Switzerland.
This exclusive distribution agreement with 25th Group, as well as the previously announced exclusive distribution agreement with MedVec for the German pharmacy channel, builds on the initiatives Elixinol Global announced 5 February 2019 with expansion of European operations to leverage the significant opportunity within the European hemp and cannabis market.
Elixinol Global Chief Executive Officer, Mr Stratos Karousos, said: “The distribution agreement with 25th Group allows Elixinol to establish a dominant position across central Europe and launch Elixinol branded products throughout retail channels in Benelux and Switzerland.”
Chief Commercial Officer at 25th Group and Managing Partner of Belgian-based CBD Distribution, Mr Joeri Perneel, said: “At this dynamic time for CBD growth across Europe, we are very excited to partner with Elixinol. We have a wealth of experience launching and growing trusted global brands in Switzerland and the Benelux countries where local presence is a vital ingredient. With Elixinol’s exciting range of next-generation products, we are confident in making Elixinol the most trusted CBD brand across the region.”
About Elixinol Global (ASX: EXL)
Elixinol Global Limited is a global leader in the cannabis industry, selling hemp-derived CBD dietary supplements, hemp food and wellness products, as well as holding a manufacturing licence for medicinal cannabis products.