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Clever Leaves Launches Project Change Lives, Pledging $25M Worth of Medical Cannabis to U S
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Clever Leaves Launches Project Change Lives, Pledging $25M Worth of Medical Cannabis to U S Researchers | Comunicados | Edición USA
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By Reuters Staff
2 Min Read
May 13 (Reuters) - Canadian medical cannabis producer Materia won European Union certification for its Malta facility to produce and export cannabis flower across the continent, allowing product supply in Germany, one of the largest cannabis markets in the world.
Several countries across the globe have been legalizing or relaxing laws on recreational use of cannabis, but Europe has remained a difficult market due to strict regulatory requirements, slowing growth.
Most European countries require the ‘European Union Good Manufacturing Practices’ (EU GMP) certification for companies to import and export cannabis goods.
Despite Malta being a hub due to its government’s progressive view on the sector, Materia’s facility is only the third in the country to get the coveted certificate.
Malta gives Materia green light to produce and export cannabis flower Reuters 3 hrs ago
May 13 (Reuters) - Canadian medical cannabis producer Materia won European Union certification for its Malta facility to produce and export cannabis flower across the continent, allowing product supply in Germany, one of the largest cannabis markets in the world.
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Several countries across the globe have been legalizing or relaxing laws on recreational use of cannabis, but Europe has remained a difficult market due to strict regulatory requirements, slowing growth.
Most European countries require the European Union Good Manufacturing Practices (EU GMP) certification for companies to import and export cannabis goods.
Tilray, Inc. (NASDAQ: TLRY) and
Aphria, Inc. (NASDAQ:APHA) have merged after months of negotiations, creating a company with a combined market cap of $3.3 billion.
The two Canadian cannabis giants had been in talks since December with Aphria’s current CEO Irwin Simon to create a new enterprise.
In April, Aphria shareholders finally voted in favor of the merger. Tilray shareholders followed suit and approved the transaction on Friday.
The Merger Deal: Under the deal, each Aphria shareholder received 0.8381 of a Tilray share for each Aphria common share held on April 30.
The resulting company, which is expected to generate roughly $81 million in annual pre-tax cost synergies within the next eighteen months, kept the Tilray name and will continue to trade on Nasdaq Global Select Exchange under the ticker symbol TLRY.
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