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Having recently closed an oversubscribed financing of $75 million, they now have about $135 million in cash and part of that financing will support expanding to 500,000 square foot production space, which translates into an expected 30,000 kg capacity. Which in turn will help the company along in its plans to pursue international opportunities. It has received GMP certification at its Napanee facility, as final steps are complete in aims to obtain a distribution license for Germany. It expects to start exporting near the end of 2018.
While you were enjoying the Christmas holidays, Cronos Group Inc. (TSX:CRON; NASDAQ:CRON; FRA:P8Y) was hard at work announcing its first shipment to G. Pohl-Boskamp GmbH & Co. KG, an international pharmaceutical manufacturer, distributing to over 12,000 in Germany. Pohl-Boskhamp’s distribution network provides Cronos with access to patients with insurance coverage for cannabis. This company is privately held, and has a broad array of products in 45 different countries, potentially opening the door to more countries across Europe and beyond. Cronos executed quickly in
announced its partnership with Pohl-Boskhamp in early October 2017. As part of the deal, Cronos terminated all other existing German supply agreements, but as we’ve seen, this one deal has already proven to be successful.
As reported back in August, Maricann Group Inc. (CSE:MARI; OTC:MRRCF; FRA:75M) announced that it secured $42.5 million in non-dilutive financing to increase production in Germany, and fully fund its plans in Germany. Its raise was one of the biggest in 2017. Along with ramping up Canadian operations with massive expansion of its Langton, Ontario facility in anticipation of the legal recreational