On Friday, Cronos Group Inc. (TSXV:MJN) (OTC:PRMCF) announced that one of its wholly-owned licensed producers, Peace Naturals Project Inc., has entered into an export deal with Cannamedical Pharma GmbH in Germany. On Oct. 28, Peace Naturals announced that it successfully exported cannabis oils to the Cayman Islands. However, with a population of roughly 60,000, the marijuana stocks’ opportunity in the Cayman Islands pales in comparison to Germany’s.
With 82 million people, Germany is the largest federally-legal medical marijuana market in the world. Cannamedical Pharma has been actively selling cannabis products throughout 2017. However, the new Peace Naturals deal will help with the ongoing German medical marijuana shortage. “Presently there is insufficient supply to meet the demand, and we are pleased to be able to provide German patients with the quality medication that they so desperately need,” said Cannamedical’s CEO, David Henn.
In October, Cannamedical expects Peace Naturals to export one of the single largest shipments of medicinal cannabis in the European Union‘s history. Cannamedical Pharma is a pharmaceutical and narcotics wholesaler that’s federally licensed to import drugs. As of September, Cannamedical is Europe’s fastest growing marijuana retailer. Their network includes 781 pharmacies and is expected to reach 2,500 pharmacies by the end of 2017.
Cronos Group is a geographically diversified and vertically-integrated cannabis company, operating two wholly-owned Licensed Producers regulated within Health Canada‘s Access to Cannabis for Medical Purposes Regulations. It also holds a portfolio of minority investments in other LPs. The company — a potentially beneficial investment for those in marijuana stocks — has flagship producers that include Peace Naturals Project and In The Zone Produce.