Sugarbud Craft Growers Corp. (TSX-Venture:SUGR) made waves Monday with a deal sending its shares into upper territory.
The Calgary-based cannabis company has entered into an exclusive wholesale distribution and supply agreement with National Cannabis Distribution (“NCD”) in Saskatchewan.
Monday’s news release said NCD will act as the exclusive provincial wholesaler and distributor for Sugarbud and/or its intermediaries to authorized private retailers in Saskatchewan for two years. The supply agreement will initially encompass Sugarbud’s craft cannabis dry flower products and will be amended to include new product offerings as they become available and approved for sale in the Province of Saskatchewan.
CEO John Kondrosky said “Our partnership with NCD provides us with a clear route to market and is a strong endorsement of both Sugarbud’s approach and product offering. Our agreement with NCD also marks a very important first step in our commercial rollout and entry into our target Canadian markets for adult use recreational cannabis products.”
SUGR climbed half a cent, or 16.7%, to 3.5 cents, on 1.3 million shares.
