SmartKem Inc. has announced the extension of a significant agreement with CPI Innovation Services Limited. The deal, formalized through a Letter of Variation, extends the Framework Services Agreement initially set to expire on May 31, 2025, to June 30, 2025. This agreement facilitates SmartKem's continued access to essential process equipment and skilled staff at the Centre for Process Innovation. Under the new terms, SmartKem will increase its financial contribution towards the CPI facility and commit to higher usage obligations throughout the extension period. The Letter of Variation is attached as Exhibit 10.1 in the company's filings.
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