T12 signs exclusive Vietnam Distributorship
Cann Global acquired T12 because of T12's brands emphasis on the excellence of Natural Food production, and is now developing an additional hemp seed food range for the Company. T12's businesses were one of the first in Australia to introduce Chia Seeds to the Vietnamese market in 2014.
Eli Levy, Cann Global's Food Division Corporate Head said, "We are delighted to be able to obtain an exclusive distributorship agreement with the Vietnamese Food Distributor, EPCO Foods Co Ltd. Over the past 5 years, T12's management have been focusing on supplying quality produce to Vietnam and building a strong business relationship with EPCO. Vietnam is experiencing an unprecedented growth in its economy and is one of the most dynamic emerging countries in the East Asia region with very high standards and expectations on its imported foods. This exclusive distributorship, to supply EPCO Foods, with premium quality 'Australian Grown Natural' Chia Seed, continues to be a perfect fit for T12's business model which includes Australia and Asia."
The exclusive distributorship agreement between T12 Holdings Pty Ltd and EPCO Foods Co. Ltd, significantly increases its supply of product to EPCO Foods (tonnage) and requires T12 to export 20MT (Metric Tonne) of 'AGN' packaged Chia seed products to EPCO Foods on an on-going monthly order. Products consist of 250g, 500g and 1kg "Australian Grown Natural" (AGN) Chia Seeds satchels and bottles. T12 will supply 26MT of AGN Chia seeds in its first order to be processed and shipped during September and October.
EPCO Foods fast-growing distribution network, continues to strengthen via importation of high quality Australian Grown produce. Their focus is high-end Vietnamese based grocery stores such as the Korean Chain "Lotte Supermarkets" French Chain "Big C Supermarkets" Eco Fruits and their own EPCO stores. "Big C Supermarkets" has 147 hypermarkets (super stores), 61 supermarkets, 797 minimarkets and 140 Pure drug stores operating across Thailand, Vietnam and Laos, and has plans to expand into Malaysia.   Pnina Feldman, Executive Chairperson of Cann Global said, "We are very pleased to continue to bring to the market significant agreements with global multinational Food Retailers such as EPCO Foods which will ensure that Cann Global Ltd fulfils its business goals of becoming an Australian world leader in Medicinal cannabis products, and Hemp and Natural Foods products.
The company's decision to invest early in our production infrastructure, and T12's ethos of setting high standards in their food production and manufacturing, with Organic certification, continues to ensure that T12 food products become a 'product of choice' for discerning Australian and International Food Retailers."
"The Board congratulates Sebastian and Samuel on all their dedication and hard work which has led to securing this significant and exclusive export distributorship with EPCO Foods, Vietnam.
The Board anticipates that the T12 range of hemp seed and other natural products will significantly add to Cann Global's revenue and cash flow as we focus on achieving revenue milestones by building our market share which we believe will return significant shareholder wealth."
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About Cann Global Limited
Cann Global Limited's (ASX:CGB) primary focus is to legally grow and cultivate hemp to research and develop medicinal cannabis products to service an increasing demand in the Australian and global markets.
Cann Global Ltd has a 100% shareholding in Medical Cannabis Ltd (MCL) and a management agreement with Medcan Australia Pty Ltd (Medcan) which operate a business cultivating, researching, developing and soon to be distributing medicinal cannabis products in Australia. Our Medical Cannabis division has been a key value driver for the Group.
The Group also retains an interest in its existing Bauxite Projects.
Cann Global Limited