Canada’s Cronos dips toes in Caribbean medical cannabis market

Cronos Group is exporting medical marijuana oil to the Cayman Islands, making it the second Canadian MMJ producer to ship the product to the Caribbean island.

CEO Mike Gorenstein described the sale – the company’s first to the Caribbean – as a “trial run” before larger shipments are sent. “We absolutely expect this to be a consistent distribution channel for us going forward,” he told Marijuana Business Daily.

The company’s wholly owned licensed marijuana producer, Peace Naturals Project, sold the extract-based MMJ product to Caribbean Medical Distributors. That company is working with Professional Pharmacy Services in the CTMH Doctors Hospital on Grand Cayman, Toronto-based Cronos (MJN: TSX Venture Exchange) said in a news release.

In May, CanniMed Therapeutics of Saskatoon, Saskatchewan, shipped 12,960 milliliters of MMJ oil to the same Cayman Islands hospital. The Cronos news release did not detail the volume of its export.

Medical cannabis exports from Canada are on pace to double this year from 2016 levels.

Canadian MMJ has been exported to 12 countries.