Canopy doubles Canadian cannabis production capacity, makes Czech acquisition

Ontario-based Canopy Growth continued its aggressive enlargement, each domestically and internationally, additional cementing its place as a pacesetter within the international cannabis business.

Gearing as much as meet rising demand for medical cannabis and nationwide legalization later this yr, Canopy is almost midway to its aim of 5.6 million sq. ft of licensed production capability in Canada.

The producer acquired permits for 2 extra greenhouse amenities, doubling its present licensed home platform to 2.four million sq. ft.

Jordan Sinclair, director of communications, stated the corporate is just not but disclosing what number of kilograms officers hope to domesticate.

Canopy additionally introduced the acquisition of Annabis Medical, a Czech firm that imports and distributes cannabis merchandise in Czech pharmacies.

Financial phrases weren’t disclosed.

Through Annabis, Canopy plans to distribute its Spectrum model of MMJ.

Here is Czech medical cannabis sector at a look:

  • The Czech Republic’s MMJ regulation got here into impact in April 2013.
  • The regulation permits for prescriptions of 180 grams of dried cannabis per thirty days.
  • Only specialised medical professionals (comparable to oncologists and psychiatrists) can prescribe cannabis, not basic practitioners.
  • MMJ can solely be prescribed to sufferers over 18 years of age.
  • THC ranges can’t exceed 21%, and CBD is restricted to 19%.
  • Conditions for which MMJ may be prescribed embrace dermatoses or continual ache in reference to glaucoma.
  • Distribution takes place via pharmacies.

Canopy’s shares are traded on the Toronto Stock Exchange as WEED.

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Categories: Briefs, Canada Marijuana News, International Marijuana Business News, Marijuana Stocks & Public Companies


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