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Instadose Pharma Corp (INSD: OTC PINK) has announced the resignation of Grant F. Sanders as Chairman and CEO effective January 14, 2022. His exit follows the successful transition of Instadose Canada to Instadose US. Alex Wylie has been appointed as interim Chairman and CEO while continuing his role as CFO. The company aims to establish a global distribution platform for medicinal cannabis across five continents. Sanders expressed confidence in the new management team's ability to fulfill the vision of becoming a leading global distributor.
Instadose Pharma Corp made history with the delivery of 2.125 Metric Tons of medicinal cannabis from South Africa to North Macedonia on December 25, 2021. This shipment is recognized as the largest cannabis delivery globally, marking a significant milestone for the company. The product caters to licensed pharmaceutical clients within the European Union. Founder Grant F. Sanders emphasized that this achievement validates their business model and reinforces Instadose's position as a global leader in medicinal cannabis supply.
Instadose Pharma Corp. (OTC PINK:INSD) announced a trading suspension by the SEC from November 24, 2021 to December 8, 2021. This decision stems from concerns regarding the accuracy of publicly available information about the company. Terry Wilshire, CEO, stated the company will cooperate fully with the SEC and provide updates as they become available.
The suspension aims to protect investor interests and ensure fair market conditions.
Instadose Pharma Corp. has announced a strategic joint venture in Cameroon to cultivate and produce medicinal cannabis, enhancing its Global Distribution Platform. This partnership with a local entity is expected to strengthen Instadose Canada's presence in Africa, leveraging Cameroon's ideal agricultural conditions and port access to the Gulf of Guinea. The agreement follows negotiations initiated in July 2021, aiming to secure licenses for commercial production and export. The company seeks to provide sustainable and low-cost medicinal cannabis supplies across its global network.
Instadose Pharma Corp. has secured an import permit for 2,125 kg of medical cannabis from Southern Africa to North Macedonia. The permit, issued on November 8, 2021, to its subsidiary IDP Macedonia, marks the second such import authorization. This shipment aligns with Instadose's strategy to establish a Global Distribution Platform for medicinal cannabis. The company has signed a supply agreement for cannabis with THC levels reaching 17.98%. Delivery is expected before December 31, 2021. Additionally, Instadose plans to finalize its arrangement transaction with Instadose Canada on or around November 15, 2021.
Instadose Pharma has established a significant joint venture with Sanctum Healthcare Remedies in India to cultivate and distribute medicinal cannabis and cannabinoid oil to Europe. This strategic partnership will leverage India's legalizing medical cannabis market, particularly in Uttarakhand, with a potential market of 1.4 billion people. IDP India, a joint entity, is progressing towards securing licenses for cannabis cultivation on 500 acres. The company's Global Distribution Platform aims to provide sustainable supplies of high-quality medicinal cannabis across continents.
Instadose Pharma Corp has formed strategic joint ventures in Colombia to export medical cannabis to Europe through its Global Distribution Platform. The company has established supply agreements for 100,000 kg of medical cannabis for shipment to North Macedonia in Q1 2022. With the legal framework for cannabis export improving in Colombia, Instadose aims to secure 1,000,000 kg per year through these partnerships. The ventures are expected to enhance Instadose's international presence in the medicinal cannabis market.
Instadose Pharma Corp, a global wholesale cannabinoid company, highlights its role in the expanding medicinal cannabis market during an upcoming conference in London in January 2022. The company aims to address how this market could benefit developing nations, particularly in food and water security. Instadose is establishing a Global Distribution Platform across five continents, partnering with various countries to secure licenses for cannabis cultivation. The firm emphasizes sustainable relationships and projects focused on improving quality of life in these regions.
Instadose Pharma Corp announces the establishment of a new import location in Portugal, expanding its Global Distribution Platform. This joint venture, set up with a local partner, aims to boost the company's presence in the EU medicinal cannabis market. Key updates include the acquisition of land for a production facility and the initiation of licensing processes. The company is set to import medicinal cannabis from various countries once licenses are obtained. The venture aligns with Instadose's strategy to enhance its cultivation and distribution capabilities across multiple continents.
Instadose Pharma Corp (OTC PINK: INSD) has successfully established a supply route for medicinal cannabis between South Africa and North Macedonia, with a pathfinder delivery of 176.5 KG completed in April 2021. This achievement demonstrates the company’s capability to comply with the high standards set by the Agency for Medicines and Medical Devices of Macedonia, ensuring a stable supply of medical cannabis. The establishment of this route lays the groundwork for future deliveries and strengthens the company's operational capabilities.
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