NZ's Cannasouth hits 10-week high on cannabis product supply deal

Cannasouth

04/05/2020 04:44

** Shares of biopharmaceutical research and development
company Cannasouth Ltd  CBD.NZ  jump as much as 10.9% to NZ$0.51
 ($0.3078), their highest level since Feb. 24
    ** Company enters into a supply agreement with MediPharm
Labs Australia Pty Ltd for the supply of white label medicinal
cannabis products in New Zealand (https://bit.ly/2Ytb9iM)
    ** Says the agreement gives co exclusive rights to the
formulation and dosage forms set out by MediPharm for the next
two years
    ** Stock posts its biggest intraday percentage gain since
April 16
    ** More than 460,000 shares change hands, compared with the
30-day average of 127,300 shares
    ** CBD shares down 23.33 % this year, as of last close

($1 = 1.6562 New Zealand dollars)


($1 = 1.6570 New Zealand dollars)

 (Reporting by A K Pranav)
 ((Pranav.AK@thomsonreuters.com;))