Phytocann Group announces Pharmasimple's entry into its capital

PARIS-(BUSINESS WIRE)-Phytocann Group, a vertically integrated company and a pioneer in the CBD industry in Europe, is proud to announce a partnership with Pharmasimple, a company listed on Euronext Growth Paris and a leader in its sector in Belgium. This strategic partnership ushers in a new era for the distribution of cannabis products in pharmacies.

Phytocann Group is pleased to welcome Pharmasimple as a shareholder, with a 5% stake for a total of 5 million euros. Beyond the complementary expertise and skills, this capital increase lays the groundwork for an initial public offering in the medium term.

Research and development is also of particular importance. New product lines and the launch of new products are already being explored by the two entities. A long-standing leader in online pharmacy, Pharmasimple has been undergoing a business transformation for several months by diversifying its network of brick-and-mortar pharmacies. While the goal of reaching 200 stores is set for 2025, 14 are already open, and 15 more are scheduled to open in 2022.

This strategic alliance will notably involve the launch of a unique product line exclusively for Pharmasimple, featuring CBD oils and cosmetics. It should be noted that the brands that make up the Phytocann Group (Harvest Laboratoires, Ivory, Easy Weed, Herboristerie Alexandra, etc.) will be distributed both in stores and on the Pharmasimple website.

Since online CBD sales are a major priority for Phytocann Group, this partnership will allow us to create synergies and thereby strengthen and expand our online presence. Always committed to creating and offering products of the highest quality, we are currently conducting research and testing on new product innovations based on CBD and other non-psychotropic cannabinoids.

This equity investment comes at the best possible time, given Phytocann Group’s expansion and the opening of the medical cannabis market in Europe, which represents real added value for Pharmasimple.

Distribution through pharmacies and drugstores was a major challenge. This also reinforces the positioning and core identity of a group that is vertically integrated from production to sales.

For further information or to request an interview with a Phytocann Group executive, please feel free to contact the press office: [email protected]

Contact

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Samuel BOTTON: 06 84 79 99 61 – [email protected]