Canadian Cannabis Company Purchases German Medical Distributor
There are signs that cannabis legalization is progressing at a rapid pace are abundant around the globe these days. From electoral victories to cultural milestones to the news that advocates are laying the groundwork for future political success stories all around us. Of course, cannabis legalization is also major economic news and the recent report of a major international business deal is yet another signal of the global progress to end prohibition.
The Globe and Mail reported:
Canopy Growth Corp. of Smiths Falls, Ont., has an agreement to buy pharmaceutical distributor MedCann, which has placed the Canadian marijuana company’s Tweed-branded cannabis strains in German pharmacies.
The purchase – subject to approvals – will be made with Canopy shares, which on Friday closed at $10.60 on the Toronto Stock Exchange.
At that value, the transaction would be worth about $7.2-million upon closing.
Canopy Growth, potentially a billion dollar cannabis company, obviously sees the benefit of acquiring a major German cannabis distributor. With Germany making major advancements in cannabis policy, especially in Berlin, Canopy Growth, like many industry observers, understands that Germany, an economic superpower, will be a huge market in the coming years. As Germany goes, the rest of the European Union will likely follow, only adding to the great momentum that we are seeing around the world.
The International Cannabis Business Conference (ICBC) in Berlin on April 10-12, 2017, will be delving into the latest developments in Germany, Europe and the world. The ICBC is poised to be a very important event during an exciting time for the international cannabis movement. You can learn more about the upcoming ICBC at www.internationalcbc.com.