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. 


3 Canadian Pot Stocks Eyeing the Next Big Market: Germany

The discussion on the legal status of cannabis is one that has been thrown back and forth for decades but has only really started to become a credible debate in recent years. In 2013, Uruguay became the first country to fully legalize recreational cannabis, followed by Canada in 2018. Eleven US states have also legalized recreational cannabis, but it is the medicinal market making the most headway globally, presenting major opportunities for well-established cannabis companies in legal territories to capitalize on nascent markets in Asia, Europe, and beyond.


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.


Germany’s medical cannabis market attracts trio of Canadian deals

The Canadian appetite for the German medical cannabis market place is picking up pace with the announcement of a trio of deals. 

In a market statement, EuroLife Brands says it is looking to collaborate with fellow Canadian firm AgraFlora Organics International on an on-line medical cannabis educational platform. The deal will see EuroLife’s physician-sanctioned German cannabis education platform integrated into Agra Flora’s existing network. 


20,000 German pharmacies to stock Canadian Firm’s cannabis

The first European deal for Canadian firm MediPharm Labs will see its medical cannabis products made available to 20,000 German pharmacies.

With dual listings on the Ontario and Frankfurt stock exchanges, MediPharm says this new deal is an important milestone in its global ambitions.


Zenabis partners with Farmako to supply mass produced CBD isolate in Canada and medical cannabis to Germany

Zenabis Global Inc. (TSXV: ZENA)("Zenabis" or the "Company") is pleased to announce that it has entered into a binding term sheet for a three-year supply arrangement with leading German pharmaceutical research company Farmako GmbH ("Farmako") for: (1) the supply of biosynthetically produced pure CBD isolate oil (99.9%) from Farmako to Zenabis for sale in Canada; and (2) the supply of European Union Good Manufacturing Practices ("EU GMP") certified cannabis cultivated in Zenabis' indoor facilities in Canada for sale by Farmako to the German medical market.


Aurora Cannabis and Aphria Inc. to supply medical marijuana in Germany

Two Canadian cannabis producers, Aurora Cannabis (TSX:ACB) and Aphria Inc. (TSX:APHA), have been awarded contracts by the German government to cultivate and distribute medical marijuana throughout the European country.

Both companies say the decision by Germany's Federal Institute for Drugs and Medical Devices is provisional and subject to a mandatory 10-day waiting period, which allows unsuccessful bidders to submit a challenge before the final contract is signed.

If finalized, the cannabis produced by both Aurora and Aphria will supply the German medical marijuana market, which is the largest in Europe according to a recent report by market research firm Brightfield Group.


Cannabis producers in Canada and Germany are being put on hold

Two separate issues are plaguing these two big cannabis markets, but they have one thing in common: The government limiting the numbers of cannabis produced so that they somehow wouldn’t flood the streets with illegal cannabis.

Applicants aren’t transitioning

In the Canadian system, applicants trying to become cannabis producers are getting stuck in the limbo as they fail to transition to the new system.

According to HC, more than half of the cannabis site applications in Canada haven’t yet transitioned to the new licensing system.

As of December 31st, only 409 cannabis site applications in the queue to be cannabis cultivators had transitioned to the Cannabis Tracking and Licensing System.


Malta start-up angling for $10 million Canadian cannabis deal, refused letter of intent

Maricann, which has facilities in Germany and Canada, said it plans to use Malta for its finished dose products. The transaction is subject to Medican obtaining regulatory approval.

A Maltese start-up that attracted the interest of a Canadian medical producer for a $10 million deal for a letter of intent from Malta Enterprise, was rejected by the state investment arm.

Earlier last month, Canadian medical cannabis producer Maricann announced it was planning to acquire a Maltese start-up, Medican Holdings, for $10 million.

But the Maltese company was only formed in March 2018 and was then still not in possession of a letter of intent (LOI) from Malta Enterprise.


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