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Cronos Group Inc. (TSX-V:MJN)
Peace Naturals Project Inc. has been exporting to Germany for approximately 8 months now through Pedanios GmbH. On May 2, 2017, Cronos Group announced that Peace Naturals Project Inc. has been issued a Good Manufacturing Practice certification in accordance with the rules governing medicinal products in the European Union. This GMP certification enables Peace to distribute medical cannabis across the European Union, joining Tilray, who was the first to enjoy this distinction.
Michael Gorenstein, CEO of Cronos, stated that “this is an incredible milestone that further differentiates Peace as an industry leader focused on setting the international gold standard. As a GMP certified LP, Peace is uniquely situated to capitalize on our first mover advantage and reaffirm our position as a leader in the space by extending our global distribution network.”
The full press release can be found here: http://thecronosgroup.com/press-release/peace-naturals-awarded-gmp-certification-fortifying-global-distribution/
In a recent interview with Michael Gorenstein for Benzinga, he pointed to approved subsidies for medical marijuana as one of the most unique and enticing characteristics of the German market:
“We see Germany and other places in Europe as extremely attractive [markets] because cannabis is treated as a medicine. Like any other medicine, you receive a prescription for it from your doctor, and insurance is mandated to cover it,” Gorenstein added. “That, I believe, is what separates it from other places where everyone is wondering when will recreational legalization come. I believe an insurance-covered medical market is at least as good, if not superior, to a recreational market.”
He noted that approximately 200 pharmacies in Germany currently sell their products.
Canopy Growth Corporation (TSX:WEED; OTCMKTS:TWMJF)
Back in November of last year, Canopy Growth Corporation acquired Germany-based MedCann, a cannabis distributor, importer and manufacturer for approximately $7.2 million plus additional milestone stock issuances, or approximately 1.6 million shares in the company. On June 19, 2017 it released a press release and announced renaming its German subsidiary to Spektrum