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Canadian Cannabis Producer Tilray Secures Trade Deal with European Union

  When it comes to large cannabis producers, Tilray arguably stands among the giants. The Canadian-based company has a huge foothold as both a medical and recreational marijuana producer. Like its equally large counterparts, the company is seeking to expand … Readmore

The post Canadian Cannabis Producer Tilray Secures Trade Deal with European Union appeared first on WeedAdvisor.

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When it comes to large cannabis producers, Tilray arguably stands among the giants. The Canadian-based company has a huge foothold as both a medical and recreational marijuana producer.

Like its equally large counterparts, the company is seeking to expand its business – and profits – into other regions. But while many licensed producers have turned their attention to South America’s favourable climate and cheap labour, Tilray recently moved in on the European Union.

In a landmark move, the company official obtained an agreement that will allow it to supply medical cannabis to the German market, according to MarketWatch.

Although Tilray is not the first Canadian LP to make a deal with Germany, the company’s recent agreement is a huge leap forward in the globalization of cannabis.

 

Massive Potential

 

Operating out of its new facility in Portugal, Tilray intends to deliver medical cannabis to a massive German market. As one of the larger companies in the EU, Germany’s massive population is a goldmine for early birds trying to take a piece of the cannabis pie.

MarketWatch explains:

 

“The freshly inked contract with Cannamedical Pharma GmbH to export $3.3 million worth of cannabis to medical patients in Germany gives Tilray access to a country with a population and gross domestic product that are twice the size of its home country, Canada. The deal also marks another step for Tilray and its global ambitions, Chief Executive Brendan Kennedy said in a telephone interview.”

 

According to Kennedy, Tilray’s exploration outside Canada started in 2015 – three years before legalization was implemented. However, it was not until April of 2019 that the Portugal facility was finally open for business.

MarketWatch highlights the importance of this expansion. Specifically, the deal with Germany could truly help the company recover and grow after its stock took a 60% dive in 2019. Tilray hopes to have results by the third quarter, but it is likely that this may not occur until Q4.

Kennedy is also quick to point out that Tilray was the first Canadian LP to obtain a foreign license.

 

Huge Scope

 

When Tilray set up its Portuguese operation, it did not hold back. The facility is no small contender, to say the least. MarketWatch explains:

 

“Tilray’s Portugal operation began harvesting marijuana in March and celebrated an official opening in April. The facility is roughly 2.5 million square feet that includes both cultivation and processing operations.”

 

 

Major Competition

 

Tilray may have been the first to reach foreign shores, but it is not alone in the German market. At the time of this article’s publication, Tilray joints the fray with Canopy, Aurora Cannabis, Wayland and Cronos Group – all with plenty of weight to throw around.

Of course, competition is not a bad thing. Medical consumers will hopefully benefit from a price war. Additionally, all of the above companies have the tools, manpower and expertise to grow and distribute excellent cannabis that adheres to regulations.

 

WeedAdvisor’s Interest in Foreign Expansion

 

Seeing the cannabis market expand internationally is highly encouraging, especially since WeedAdvisor does not limit itself to its own Canadian borders.

By fostering and creating partnerships at home and abroad, we offer business solutions to organizations of all sizes. Our platforms help licensed producers, retailers and governments establish systems to simplify and improve key areas like compliance, inventory tracking, POS, reporting and real-time data monitoring.

 

 

 

 

The post Canadian Cannabis Producer Tilray Secures Trade Deal with European Union appeared first on WeedAdvisor.

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A Guide For Canadians Looking To Try Cannabis This Valentine’s Day

Wondering what to buy? “Flowers, duh!” says budtender Katie Lake… but with a pot twist. “In high school, my nickname was Miss Bakes. I guess it’s true what they say; old habits die hard,” says Katie Lake, who is currently working as a budtender at Sh…

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Wondering what to buy? “Flowers, duh!” says budtender Katie Lake… but with a pot twist. “In high school, my nickname was Miss Bakes. I guess it’s true what they say; old habits die hard,” says Katie Lake, who is currently working as a budtender at Shop Cori, a cannabis store located in Toronto. “Initially, working in the cannabis industry was supposed to be a temporary gig,” Lake says in an email. The transition occurred as…

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Canadian Cannabis Stocks Pop On U.S. Legalization Push And Gamestop-Style Short Squeeze

Shares in a number of cannabis companies have been on fire this week. Shares in Canadian-based cannabis companies are surging this week partly because of a flurry of short sellers covering their bets against the stocks, right as U.S. lawmakers seem to …

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Shares in a number of cannabis companies have been on fire this week. Shares in Canadian-based cannabis companies are surging this week partly because of a flurry of short sellers covering their bets against the stocks, right as U.S. lawmakers seem to be getting more serious about potentially legalizing the drug. Three of the four biggest companies in the space — Tilray, Aurora Cannabis and Aphria — have seen their stock prices rise by between…

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Super Bowl Champ Marshawn Lynch Launches Line Of ‘Diamond Concentrate Infused’ Blunts With Assist From Toronto Company

The blunts contain THCA crystalline ‘diamonds,’ a cannabis concentrate. Marshawn Lynch’s latest venture is ‘Dodi Blunts,’ a new line of cannabis products that will be available in Oakland next month. Packed in slow-burning palm leaf wraps, the blunts a…

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The blunts contain THCA crystalline ‘diamonds,’ a cannabis concentrate. Marshawn Lynch’s latest venture is ‘Dodi Blunts,’ a new line of cannabis products that will be available in Oakland next month. Packed in slow-burning palm leaf wraps, the blunts are infused with THCA crystalline ‘diamonds,’ a cannabis concentrate. – Read the entire article at Edmonton Journal.

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