Portugal’s California-like climate has noticed a third Canadian business appear to establish a cannabis cultivation footprint in the nation.
Very first it was Tilray, then it was Aurora and now The Flowr Corporation is set to develop cannabis in the nation. Flowr has announced plans to obtain the remaining 80% stake in Portuguese firm Holigen which has established a large cannabis operation in Aljustrel, about 100 miles south east of the capital Lisbon.
The 72-hectare web-site could grow to be 1 of the biggest cannabis facilities in the globe. Situated in the Alentejo area it will initially make about 500,000 kilograms of cannabis per year – and could rise to much more than 630,000 kilograms.
Cannabis Clones For Export
Flowr also announced that it has received a Well being Canada export permit that will enable it to make an initial shipment of clones from its Kelowna Campus to Portugal. It says the permits will enable the Aljustrel operation to garner its initially outside harvest later this year. Its CEO Vinay Tolia mentioned the deal is a significant milestone and a ‘cornerstone in its efforts to service the worldwide healthcare cannabis market’.
“Aljustrel is 1 of the biggest outside THC cultivation licenses in the created globe, and will be instrumental in supplying massive-scale, low-price cannabis extract for pharmaceutical APIs, as properly as oils to service the European healthcare markets.”
Excellent Climatic Cannabis Circumstances
Flowr, which is primarily based in Toronto, builds and operates massive-scale, GMP-made cultivation facilities and lately announced plans to raise up to C$125 million to finalize the Holigen acquire. 1 of Portugal’s significant attractions for such foreign businesses is that it has best climatic and cultivation situations.
It represents an appealing marketplace, with comparatively low labor fees and and a current adjust in the law enables for the distribution of healthcare cannabis to other EU nations, exactly where it is legal. Edmonton-primarily based Aurora has signed an agreement to obtain a 51% ownership stake in Gaia Pharma, a Portuguese-primarily based business with plans to make healthcare cannabis and derivative goods.
Aurora mentioned building of the initially phase of the Gaia facility, capable of making up to two,000 kilograms of cannabis a year, was anticipated to be completed in late 2020.