Canopy Growth Completes its Acquisition of Annabis Medical

Canopy Growth Completes its Acquisition of Annabis Medical

With more and more people and businesses exponentially becoming tuned into the benefits and legality of medical cannabis, the need for safe and legal access scales with such demand. Right now the Canopy Growth Corporation is in the middle of a "green rush", through the companies ever expanding corporate portfolio, it creates and offers medical cannabis in Canada under a few brand names, including Tweed, Spectrum Cannabis, Bedrocan, and Mettrum.

This week saw Canopy Growth announce that the Company has signed definitive agreements to acquire Annabis Medical s.r.o ("Annabis Medical"), expanding the Company's focus on another emerging medical cannabis market.

Annabis Medical is the leader in the Czech Republic's medical cannabis industry and currently imports and distributes cannabis products according to federal Czech licenses, with products for sale through pharmacy channels across the Czech Republic. Its founder and CEO, Dr Robin Kazík, will continue to lead and grow the Czech subsidiary as part of the larger Canopy Growth family.

"This acquisition is another example of our commitment to expanding Canopy's European presence and furthering our position of leadership," said Mark Zekulin, President, Canopy Growth. "We look forward to supplying Czech customers with our high quality, GMP-produced medical cannabis products, and providing further resources to support education for Czech pharmacists, patients and healthcare practitioners."

By combining Canopy Growth's extensive global experience and network with the influential national position of Annabis Medical, Canopy is proud to bring its renowned Spectrum Cannabis brand to another European market.

"With a strong footprint and established distribution network in the Czech medical cannabis market, as well as a history of importing Canadian cannabis, we are excited to join the Canopy Growth family. This move will allow us to more rapidly diversify our product offering and strengthen our access to supply as we scale in the market,'' said Dr Robin Kazík, Founder and CEO of Annabis Medical.

The acquisition of Annabis Medical will build on Canopy Growth's position of leadership in the European medical cannabis space and follows the recent partnership and supply agreement with Spanish pharmaceutical leader Alcaliber S.A. Additionally, Canopy Growth currently supplies the German market through its subsidiary, Spektrum Cannabis GmbH, and has formed a partnership, Spectrum Cannabis Denmark ApS, which is licensed to cultivate cannabis in a 40,000 square meter greenhouse production facility located in Odense, Denmark. These assets, combined with Canopy Growth's unparalleled Canadian production and sales platforms, represent the world's largest and most diversified cannabis platform.

SOURCE Canopy Growth Corporation