Cannara Biotech expands Curaleaf supply deal to potential C$34M
The Quebec grower has 15 of 24 Valleyfield rooms active and is still pursuing EU-GMP certification for its own processing centre.
Theo Marchetti
Quebec-grown medical cannabis gained a larger international supply commitment on Monday, Oct. 5, under an amended two-year agreement. Cannara Biotech Inc. TSELOVE OTCMKTSLOVFF said the deal's potential value rose to approximately C$34 million over two years from up to C$21 million under its original terms.
On Monday, Cannara shares traded at C$2.16 on TSELOVE at 2:12:37 p.m. EDT.
The amendment increases the possible aggregate value by approximately C$13 million, but the release ties that figure to committed supply volumes and the agreement's conditions. The C$34 million is potential agreement value, not reported sales. Cannara's Oct. 5 release does not disclose a price per kilogram or a delivery schedule for the expanded volumes.
The counterparty is Curaleaf International Limited, part of Curaleaf Holdings, Inc. TSECURA OTCMKTSCURLF. Cannara said the arrangement gives it access to Curaleaf's distribution network for international medical markets while it continues to pursue growth in Canada.
Cannara says the original agreement was announced July 14 and calls it its first long-term international supply commitment. Its two Quebec facilities cover more than 1.6 million square feet and have potential annual cultivation output of 100,000 kilograms, according to Cannara's Oct. 5 release. Those figures describe the company's stated capacity; the release does not allocate that output to Curaleaf.
Cannara Pursues EU-GMP Certification at Valleyfield
Cannara said flower supplied under the agreement will be dried and processed under EU-GMP conditions at Curaleaf's EU-GMP certified facility in Canada while Cannara pursues certification for its Valleyfield processing centre. The Oct. 5 release gives no target date for certification.
Chief operating officer Niko Sosiak tied the expanded agreement to rooms already operating at Valleyfield:
“This expanded agreement demonstrates our ability to grow within the cultivation infrastructure we already own at Valleyfield, where we now have 15 of our 24 grow rooms active,” Sosiak said in the Oct. 5 release.
Cannara says the remaining buildout is fully funded, but the announcement does not give a schedule for opening more rooms. It also does not say what portion of the expanded supply volumes can be met from the rooms already active. Cannara's Oct. 5 release does not specify how many kilograms of the expanded volume will come from Valleyfield or a price for those sales.
Curaleaf's investor page says its international business had a presence in 16 countries across Europe, Australasia and North America as of the first quarter of 2026. Cannara's Oct. 5 release does not identify destination countries or downstream buyers for the added volumes. Curaleaf's broader footprint alone does not identify where the flower will be sold.
Read more: Curaleaf Holdings plans Aurora bid variation implying US$5 a share
Cannara's Oct. 5 release describes the amended agreement as having a two-year term, without a calendar end date or a target date for Valleyfield certification.
