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 115 Articles
Anthony Johnson, a longtime cannabis law reform advocate, is the director of New Approach Oregon, working to effectively implement the cannabis legalization system while protecting small business owners and the rights of patients. He sits on the Oregon Marijuana Rules Advisory Committee and fights for sensible rules at the legislature, before regulatory bodies,and at city councils and county commissions across the state.He was proud to work as Chief Petitioner and co-author of Measure 91, Oregon's cannabis legalization effort and director of the Vote Yes on 91 PAC, the political action committees responsible for the state's legalization campaign. He also advises cannabis entrepreneurs on how to comply with Oregon's laws and helps organize the International Cannabis Business Conference and the Oregon Marijuana Business Conference. Anthony's blogs on are personal in nature and don't speak for or reflect the opinions of any group or organization. You can see his work here at WeedNews.co as well as MarijuanaPolitics.com.