International medical cannabis platform company Akanda Corp. (NASDAQ:AKAN) signed an exclusive license agreement with international cannabis lifestyle brand Cookies.
Under the terms of the license agreement, Akanda gains the ability to cultivate, manufacture and distribute Cookies strains, and the rights to sell Cookies branded products, including non-cannabis merchandise, in Portugal. Akanda intends to initially produce EU GMP certified Cookies branded high THC medical cannabis products at its flagship indoor premium cultivation and manufacturing facility in Sintra, Portugal. Additionally, Akanda is able to exclusively open and operate Cookies branded pharmacy outlets throughout the country.
Brainchild of rapper and entrepreneur Berner (Gilbert Milam), Cookies currently has over 53 retail locations spanning five total countries including 12 states in the U.S., selling lifestyle apparel as well as recreational and medicinal cannabis products as regulations allow.
“Adding the iconic Cookies brand and their high THC strains to Akanda’s platform is an important catalyst in our quest to lead the cannabis industry in Europe. Cookies premium genetics are an essential pillar to have in our portfolio as these markets begin to open up. We can’t wait to introduce the brand to consumers in Portugal, and strains to patients throughout Europe,” stated Akanda’s CEO Tej Virk.
Berner, co-founder and CEO of Cookies, stated: “The fact that Portugal decriminalized drugs back in the early 2000’s and people in the U.S. are still being locked up for cannabis 20 years later, shows the world, especially the U.S., that we can learn a lot from their forward thinking. The partners we chose in Portugal have one of the most advanced facilities I’ve seen and will be producing some of the best cannabis in the world. It’s partnerships like this that keep me excited about the growth and expansion of Cookies worldwide.”
Virk continued: “The Cookies license agreement is enabled by our May 2022 acquisition of Portugal-based Holigen, which makes Akanda a cultivator, manufacturer and distributor of EU GMP certified medical cannabis with a state-of-the-art 20,000 square foot indoor cultivation site in Sintra dedicated to the cultivation of high THC premium cannabis as well as a large seven million square foot (180+ acres) outdoor facility located two hours south in Aljustrel. It is further evidence that Akanda has secured one of the most prized cannabis assets in Europe. With brands and strains like Cookies, I’ve never been more confident about Akanda’s promising future.”
Photo: Courtesy of Akanda Corp. / Cookies
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