LONDON, 2nd Oct 2019 – WINCHESTER MD LIMITED (“Winchester” or the “Company”) is pleased to announce that they have signed a binding letter of intent (“LOI”) with a company based in Poland that can provide access to a Good Manufacturing Practices (“GMP”) facility in Warsaw, Poland as well as distribution to pharmacies across many Eastern European Countries through multiple points of sale (“POS”) distribution outlets. This is the first step in the Company’s strategy to create GMP production facilities within Europe. The LOI will pave the way for Winchester MD to create its 100% owned polish subsidiary which in turn will sign the JV with the Polish Company. The principals of the Polish Company are the executives and founders of a large pharmaceutical company based on Poland that distributed over 30 million products with multiple SKU’s to Eastern European Countries.
Farzad Moshfeghi, CEO and co-founder of Winchester MD announced “This agreement confirms our commitment to establishing a world class operation that seeks to achieve GMP status and provide the highest quality products across our brands (EQL, CBDrive and The Goods). As a result of this agreement not only will Winchester MD be able to build its formulation labs within an existing GMP facility, the Company will also gain access to one of the largest markets for CBD in Europe. We plan to launch an online Polish CBD superstore to compliment the wholesale and multi POS distribution activities.”
A further update will be provided in October once the JV has been signed at which point the Polish JV partner will be named.
For more information, please visit www.winchestermd.com
On Behalf of the Board,
About Winchester MD Limited
In 2019 the Company has expanded into other verticals in the cannabis sector with the vision of becoming a global cannabis leader with cultivation, extraction, CBD wellness and research and development. Winchester Farms is operating on 20 hectares in the south of Spain with an expected harvest from its 250,000 hemp/CBD plants in October 2019. The Company expects to generate revenue form this harvest in various categories including wholesale biomass and extraction into CBD distillate and isolate with wholesale sales and direct use of raw materials into the Company’s branded products including The Goods, EQL and CBDrive.
This release has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Therefore this release has not been subject to the procedures and controls which would apply if they were made or approved as a financial promotion by an authorised person. This release is not intended to be a financial promotion or offer to the public and the Company is not making an invitation to invest into the share capital of the Company.
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