Ontario-based Maricann expects to start shipping dry cannabis flower to Germany in early 2018, making it the latest Canadian company to export medical marijuana to what could soon become the world’s largest MMJ market.
The company’s German subsidiary, Maricann GmbH, also applied for a license to import Maricann’s cannabis from Canada with the intention of distributing it directly to pharmacies and, in turn, help Maricann preserve profit margin.
Separately, Maricann GmbH is one of 10 finalists (of 118 applicants) for the German government’s tender to cultivate medical marijuana.
Germany is conducting an application process to select 10 licensed producers to cultivate marijuana from 2019 to 2022.
The licensees were expected to be announced in September but were delayed by legal proceedings related to unsuccessful submissions by other applicants.
A final decision may be forthcoming as early as March.
Maricann – traded on the Canadian Securities Exchange under the symbol MARI – expects to add 22,245 kilgrams (49,000-plus pounds) of annual production capacity in the second quarter of 2018.
Canadian medical marijuana will be available in most of Germany’s 20,200 pharmacies.
Deals involving Cronos Group and Tilray will put tens of millions of dollars worth of Canadian MMJ within reach of 70 million insured Germans.
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