Germany is seen by many as the crown jewel of the European medical marijuana market.
Canadian companies hoping to grow cannabis in Germany are looking at a delay of several months or more, following a German court decision on Wednesday to halt the government’s tender process for cultivation licences.
A number of Canadian companies and their German subsidiaries were believed to have been on the shortlist for the 10 licences, including Canopy Growth Corp., MedReleaf Corp., Aurora Cannabis Inc. and Aphria Inc. (through its recent acquisition of Nuuvera Inc.).
Other companies, such as Maricann Group Inc., Tilray and Cronos Group Inc. are also invested in Germany, and may have been in the running as well. It’s unclear when the tender process will continue and whether or not it will have to start from the beginning.
– Read the entire article at Financial Post.