Canada’s largest licensed cannabis producer continued its aggressive drive overseas by signing a deal to be the exclusive supplier of medical marijuana for Australia’s AusCann Group Holdings Ltd.
Canopy earlier agreed to take a 15% ownership stake in the Perth-based company, which is a cultivator, manufacturer and supplier of Australian-produced medical marijuana.
Smiths Falls-based Canopy (TSX Exchange: WEED) will begin supplying AusCann with a range of medicines for research and commercialization in Australia, the company said in a news release.
In August, AusCann was granted a medicinal cannabis manufacturing licence by the Office of Drug Control, permitting the company to manufacture and supply MMJ.
The deal represents Canopy Growth’s second international agreement this week. On Monday the company said it will supply medical marijuana seeds to the Spanish pharmaceutical company Alcaliber, which will be used to grow and export medical cannabis.
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