Aurora to close some European offices, lay off staff in latest restructuring move

Aurora Cannabis Inc. is closing some of its European operations as the cannabis producer opts to consolidate its presence in the continent amid soft demand for medical pot, according to an internal memo obtained by BNN Bloomberg. 

Aurora told its employees last week that it will shut its offices in Portugal, Spain, and Italy while reducing its European workforces by one-quarter in select countries and its regional office, the memo said. The Edmonton-based company will shift its European headquarters from Germany to its Denmark office while acquiring the remaining 49 per cent of its Danish business that it doesn't already own, the company said. 


Cannabis in Europe: hotbed of opportunity awaits Canadian firms

As Health Canada continues to piece together the jigsaw puzzle that is the domestic cannabis market, many forward-thinking companies are looking abroad to secure their global leadership positions.

The establishment of a commercial, domestic medical program in 2013, coupled with the October 2018 launch of adult-use access, ushered in a wave of zealous capital and entrepreneurship. This fervour may enable Canada to leverage its first-mover status and author the blueprint for others; however, its relatively small population simply does not offer a sizable enough addressable market to scale into the sphere of global dominance.


3 Canadian marijuana stocks with a significant European presence

At this time one year ago, cannabis stocks were seated high on the mountain top overlooking nearly all other industries and sectors. The marijuana industry simply couldn't be stopped, with Canada becoming the first industrialized country in the world to legalize recreational pot on Oct. 17, 2018.

But my how the tables have turned.


Supreme Cannabis announces plans to acquire Truverra, expand reach in Canada, Europe

The Supreme Cannabis Company, Inc. (TSX: FIRE) is readying itself for Canada's "legalization 2.0" by entering into a definitive agreement with the private company Truverra Inc.

The deal is expected to be valued at around CA$20 million ($15.3 million). 

Why It Matters

The acquisition of Truverra gives Supreme further access to the Canadian and international markets through Truverra's Canadian Clinical Cannabinoids Inc. (CCC) subsidiary, the company said in a Wednesday press release. 

This includes CCC's 5,000-square-foot Scarborough, Ontario facility, where Supreme said it plans to produce its extracts, including products like concentrates that will be legal for sale later in the year.


4 Canada-listed cannabis stocks set to light it up in Europe

With a population size of 740 million people, Europe’s population dwarfs both Canada and the U.S combined. The sizable growth the cannabis industry has had over the past 12 months can be attributed to six countries that have announced medical cannabis legalization.

So far, over €500.0M has been invested in European cannabis businesses (Prohibition Partners, 2019). It is predicted that Europe over the next five years will be the largest legal cannabis market in the world and could be worth up to €123.0B by 2028. Today we have identified four Canada-listed cannabis stocks with promising operations in the European Union (EU).


Canadian pot firms may not want to go all-in on European CBD 'hype,' study suggests

One of the new frontiers for cannabis investing may not be the frothy windfall that some companies are expecting, a new report suggests.

The opportunity for cannabidiol – the cannabis compound du jour that’s better known as CBD – in Europe is forecast to grow at a heady clip over the next several years, but the continent is rife with a complex regulatory patchwork that could make the sector difficult to navigate, according to Bethany Gomez, managing director at Brightfield Group, which released a report Tuesday analyzing Europe's legal CBD market. 

"Europe is a very nascent cannabis market," Gomez said in a phone interview with BNN Bloomberg. "It’s just starting to take off but tailwinds are there."


The top cannabis stocks with explosive European exposure

The press has spent a considerable amount of time, focused on cannabis developments in the U.S. and in Canada. 

Canada, for example, just legalized cannabis throughout the country.  Corporate America is quickly waking up to the opportunity, transforming multi-billion-dollar industries.  U.S. states are approving the use of cannabis for recreational or medicinal use.  

However, at the same time, the cannabis story is proving to be just as exciting in Europe.

According to Canaccord Genuity as noted by The Boston Globe, “CBD, has become a ‘trending ingredient’ in a range of consumer goods and is now highly visible in pharmacies and health stores. It estimates the CBD product market in Europe was worth 750 million euros ($857 million) to 1 billion euros in 2018…”


Tilray rides on successful cannabis harvest in Europe

Tilray’s (TLRY) stock made strong gains early Wednesday after the Canadian marijuana giant said its European arm had a very successful cannabis harvest. A statement from the company said Tilray Portugal Unipessoal completed the harvest of medical cannabis at its cultivation site in Portugal. The advanced facility, which has been developed with investments of more than EUR 20 million, also functions as a base for the company’s clinical research programs in Europe.

Tilray is a rare stock that received the top rating from almost all the analysts covering it. The consensus recommendation has been strong buy for quite some time, making the stock one of the most sought after investment options. The average price target is $90.


The medical cannabis momentum in Europe and Canada

The prescription of cannabis for medical purposes – without the need for a special permission – was legalized in Germany in March 2017. Since then, a wave of approvals for medical cannabis has swept across Europe, with many countries following in Germany’s footsteps.


Canada’s maturing big cannabis targets Europe for expansion funds

A favourite of do-it-yourself stock pickers, Canadian cannabis firms are trying to bolster their institutional investor base by boosting efforts to woo European funds as countries across the region approve marijuana for medical use.

For some time, companies including Canopy Growth Corp., Aurora Cannabis Inc. and Tilray Inc. have been signing export deals with European governments, buying local companies and opening production facilities in the region.

This year, they have also stepped up pitching their businesses to European funds at conferences and road shows, betting their size and first-mover advantage will help replace fickle retail investors with more stable institutions.


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