Canopy signs cannabis seed deal with Spanish pharma company

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Canopy Growth will supply medical marijuana seeds to the Spanish pharmaceutical company Alcaliber, becoming the latest licensed Canadian producer to expand its footprint in Europe.

Alcaliber will use the seeds to grow and export medical cannabis from its facilities in Spain. The seeds will be provided through a supply deal involving Smiths Falls, Ontario-based Canopy and its German subsidiary, Spektrum Cannabis, according to a news release.

Spektrum Cannabis distributes MMJ products to nearly 500 pharmacies across Germany.

LPs have been exporting medical cannabis from Canada as part of a major overseas expansion. And Canopy’s latest deal is a part of that trend.

The company’s announcement comes about a week after Toronto’s Cronos Group (TSX Venture Exchange: MJN) disclosed plans to grow medical marijuana in Israel for export to Europe.

The following day, British Columbia’s Tilray said it would build a production facility in Portugal to service European medical marijuana demand.

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