NewsEuropeCanadian Firms With A Fondness for Portugal

Canadian Firms With A Fondness for Portugal

-

PORTUGAL’S California-like weather is making it a prime destination for cannabis cultivators.

Canadian firms Tilray, Aurora and The Flowr Corporation all now have stakes on the Iberian Peninsula.

Toronto-based Flowr last year finalized its purchase of Holigen Holdings to produce high-quality cannabis, with an expected annual capacity of 500,000 kilograms

Holigen has established a huge cannabis operation in Aljustrel, about 100 miles south east of the capital Lisbon. The 72-hectare site is one of the largest outdoor THC licenced producers in the world.

One of Portugal’s major attractions for such foreign companies is that it has ideal climatic and local cultivation conditions.

It represents an attractive market, with relatively low labor costs and and a recent change in the law allows for the distribution of medical cannabis to other EU nations, where it is legal.

Edmonton-based Aurora has acquired a 51% ownership stake in Gaia Pharma, and Tilray is now exporting product from its European Campus in Cantanhede, Portugal.


Peter
Peter McCusker is an experienced news and business editor, who believes it’s time to fully embrace the multiple, proven, medical benefits of the cannabis plant.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest news

Germany’s ‘KanaVape’ Moment As Police And Courts Crackdown On ‘Narcotic’ Hemp & CBD

TWO senior figures in the European cannabis industry are leading the fight against over-zealous German law enforcement in a...

UK CBD Consumption To Switch From Oils To Capsules – As New Research Estimates Market Value At £690m

CAPSULES are set to replace oils as the preferred method of CBD consumption - as new research show the...

Crowdfunding: An Emerging Capital Greenhouse For The Cannabis Industry

ALPHAGREEN is expected to hit close to the £2m crowdfunding mark on the Seedrs platform by mid-May – double...

Former JP Morgan Banker Lands Two UK Cannabis Jobs

A VETRAN of American investment bank JP Morgan has entered the burgeoning field of cannabis with appointments to two...

Europe’s Hemp Pioneer Posts Record Results With CBD, Construction And Car-Making To The Fore

EUROPEAN pioneer HempFlax has posted record annual results with revenues up 43% to €14.5m (£12.5m) as it returned a...

Sales Up Sharply At Sativa Wellness But Operational Costs Lead to £4.5m Loss

BRITISH CBD firm Sativa Wellness saw annual sales rise by over one-third in an eventful year which saw it...

Must read

Germany’s ‘KanaVape’ Moment As Police And Courts Crackdown On ‘Narcotic’ Hemp & CBD

TWO senior figures in the European cannabis industry are...

You might also likeRELATED
Recommended to you