Canadian Cannabis Company Canopy Growth to Buy Germany’s MedCann

Grape Crush

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

This blog post was originally published by the International Cannabis Business Conference and has been reposted here with special permission.

Anthony Johnson
About Anthony Johnson 153 Articles
Anthony Johnson is the director of New Approach Oregon, the Political Action Committee responsible for Oregon's Measure 91 cannabis legalization campaign and co-owner of Duff Johnson Consulting. As Chief Petitioner and co-author of Measure 91, Anthony served on the state's initial Marijuana Advisory Committee and he continues to advocate for sensible policies that decrease unnecessary arrests, protect patients' safe access, and help small businesses. With Duff Johnson Consulting, Anthony helps cannabis farmers, processors, retailers, and ancillary businesses with licensing, compliance, public relations, and marketing. DJC clients include the International Cannabis Business Conference, the Oregon Marijuana Business Conference, Cannabliss, Natural Roots, and numerous medical cannabis cultivators that provide free cannabis to patients in need.Anthony co-hosts the Let's Hash It Out podcast, available here on Weed News, at www.letshashitout.blog, Sound Cloud, iTunes, and Stitcher. Anthony's blogs on Weed News are personal and don't necessarily reflect the views of any organization or company.