Harvest One Cannabis Inc (OTC: HRVOF) announced Thursday that its wholly owned subsidiary Satipharm Ltd. entered into an agreement to become a supplier to medicinal cannabis wholesaler and distributor Health House International.

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What Happened

Vancouver-based Harvest One will supply Health House with Satipharm CBD 50mg Gelpell capsules. Health House plans to distribute them to its existing network of pharmacies and to support health care professionals with Satipharm product information.

Health House is one of the largest wholesalers of medicinal cannabis to Australian pharmacies.

In other news, Harvest One said Wednesday that Chief Financial Officer Lisa Dea has resigned and is being replaced by Chris Podolsky as interim CFO. Dea will ensure a smooth transition by remaining in an advisory capacity, the company said.

Why It's Important

Through the agreement announced Thursday, Harvest One said it will be able to expand the availability of its Satipharm CBD capsules across Australia. The country has strict rules regarding CBD, which is still classified as a Schedule 4 substance and is only available through a medical prescription.

What's Next

In addition to expanding the presence of Satipharm CBD capsules in Australia through its partnership with Health House, Harvest One also expects to access neighboring markets in New Zealand and Asia when CBD becomes available there.

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