138
designed to be sold in, the EEA. In its March 6, 2018 press release, CEO Bernard Fortier is quoted as saying that “This is significant for Tetra since there are a number of European countries, with Germany at the forefront, where medical cannabis has been legalized.” With a foothold in Germany, and certification within the EEA, TBP stands to benefit throughout the EEA as more countries move to legalization. And since this is used for medical purposes, the greater the chance of distribution and sales into other European countries at a more rapid pace than recreational sales.
Beleave Inc. (CSE:BE; OTC:BLEVF) announced appointment of two Board of Directors members, one of which having extensive leadership experience in Europe and Australia and emerging markets through their time with Bristol-Myers Squibb, Merck and Pfizer, all global pharmaceutical giants. The full press release can be accessed here: Beleave Announces Significant Appointments to its Board of Directors.
Canopy Growth Corporation (TSX:WEED; OTC:TWMJF; FRA:11L1) recently released its earnings for Q3
2018 with earnings of $11.01
million on revenue of $21.7 million, and as the company stated “were driving by a significant increase in domestic sales across all product formats as well as sales in the
German medical market, which is beginning to show impressive growth”. As written back in July, the pharmacies in Germany charge from €12 to €20 per gram. Yes, €12 to
€20 per gram! As of February of this year, the average price of marijuana from Health Canada-licensed producers was $6.83 per gram,
down about $2.29 from last year. Analyst notes from its earnings release suggests international pricing of about €8 per gram, or approximately $12.61 per gram converted to Canadian dollars,
which is almost double the price
that they are averaging domest-ically. This just highlights to potential within Europe. If (or
maybe when) cultivation begins, those with a foothold within these countries stand to benefit from very low cost of production as well. Maricann Group is forecasting its
cost of production to be around $0.50 per gram, cultivating within
its new German facility (compared with around $1.34 per gram cost in Canada).