CannapharmaRx Receives First Purchase Order and Begins Shipment of Product

Rhea-AI Summary

CannaPharmaRx, Inc. (CPMD) has received its first purchase order for cannabis products, marking a significant milestone in its global expansion. The company is set to distribute products in Canada and Israel, with plans for continuous supply in the future.

CannapharmaRx products have been approved for sale in multiple countries worldwide

CALGARY, AB / ACCESSWIRE / March 14, 2024 / CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities announced today that it has received its first purchase order covering the output for the first four harvests. This product was shipped on March 11 to a Canadian LP for distribution within Canada.

The company also expects to receive a purchase order from Israel for international distribution of the fifth and sixth harvests during the coming weeks. The company will have additional products ready for distribution every 2-3 weeks and anticipates that it will have purchase orders for the entire supply for the foreseeable future.

"We are pleased to be in a position to expand our products and brands on a global scale, and to be working with well-recognized partners and their large distribution networks throughout the world." said Dean Medwid, CEO of CannapharmaRx "This is only just a starting point for our company as we are in the process of fulfilling long-term supply agreements."

About CannapharmaRx, Inc.

CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis grow facilities in Canada. CPMD is in discussion with other companies regarding potential acquisitions. CannapharmaRx's business strategy is to become a leader in high quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure being a low-cost producer of cannabis.

Safe Harbor Statement

Cautionary Note Regarding Forward-Looking Information or Statements

This press release contains forward-looking information or statements. All statements that are or information which is not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations, or beliefs of future performance, are 'forward-looking information or statements.' Forward-looking information or statements can be identified by the use of words such as 'plans,' 'expects,' or 'does not expect,' 'is expected,' 'estimates,' 'intends,' 'anticipates,' or 'does not anticipate,' or 'believes,' or variations of such words and phrases or statements that certain actions, events or results 'may,' 'could,' 'would,' 'might' or 'will' be taken, occur or be achieved. With respect to forward-looking information and statements contained herein, Management of CannapharmaRx has made numerous assumptions, including, among other things, assumptions about general business and economic conditions. Such forward-looking statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors that may cause actual results, events, or developments to be materially different from any future results, events, or developments expressed or implied by such forward-looking information or statements. Readers are cautioned not to place undue reliance on such forward-looking information or statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in forward-looking information or statements. CannapharmaRx assumes no obligation to update any forward-looking information or statements, even if new information becomes available as a result of future events, new information, or for any other reason except as required by law.

Contact Information:
Brokers and Analysts
Chesapeake Group
(410) 825-3930

SOURCE: Cannapharmarx, Inc.

View the original press release on accesswire.com

FAQ

What is the ticker symbol for CannaPharmaRx, Inc.?

The ticker symbol for CannaPharmaRx, Inc. is CPMD.

When was the first purchase order received by CannaPharmaRx, Inc.?

CannaPharmaRx, Inc. received its first purchase order on March 11, 2024.

Which country will receive the products from the first purchase order?

The products from the first purchase order will be distributed in Canada.

What is the CEO's name of CannapharmaRx?

Dean Medwid is the CEO of CannapharmaRx.

What is the frequency of product distribution expected by CannapharmaRx?

CannapharmaRx anticipates having additional products ready for distribution every 2-3 weeks.

What are the future plans of CannapharmaRx regarding supply agreements?

CannapharmaRx is in the process of fulfilling long-term supply agreements for its products.

Which country is expected to receive a purchase order for international distribution?

Israel is expected to receive a purchase order for the fifth and sixth harvests.

What type of facilities does CannaPharmaRx aim to lead in?

CannaPharmaRx aims to be a leader in ultramodern, highly efficient cannabis production facilities.