Tilray wins first new cannabis cultivation license in Germany under new laws
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Contributor since / Followers
Contributor since / Followers
2 months ago
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- Tilray Brands (NASDAQ:TLRY) has received its first new cannabis cultivation license in Germany under new regulations.
- The license, issued under MedCanG (the country’s new Cannabis Act), allows Tilray’s (TLRY) Aphria RX facility to cultivate and manufacture a broad commercial range of medical cannabis, resulting in around 5x production increase.
- In addition, the facility can also expand its genetics to a total of 31 approved strains from the previously approved three strains.
- Tilray’s chief strategy officer and head of international Denise Faltischek commented: “We are thrilled to receive this license as it will provide greater access to some of the highest quality medical cannabis produced in Germany and enable us to expand the range of treatment options available to patients.”
- Shares of Tilray Brands (TLRY) were up over 2% premarket on Monday