Canopy increases global reach into Jamaican medical cannabis market

Canopy Growth signed a strategic partnership with Grow House JA to expand its medical marijuana scope into Jamaica, where construction of a new production facility is already under way.

Canopy, traded on the Toronto Stock Exchange as WEED, holds a 49% stake in the Jamaican enterprise, which will operate as Tweed Limited JA.

Canopy didn’t immediately respond to queries from Marijuana Business Daily on the anticipated timeline, output or financial details of the new facility in Jamaica.

The Jamaican legislature amended the nation’s cannabis laws in 2015, leading to the introduction of the Cannabis Licensing Authority. Since then, the government has been developing a framework for the cultivation and sale of medical cannabis.

Canopy has been expanding its reach overseas in recent months.

In September, the company signed a strategic partnership to expand into Denmark and inked a contract to supply medical marijuana seeds to the Spanish pharmaceutical company Alcaliber.

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