Canadian cannabis producer Tilray is investing about $29.5 million in a medical cannabis operation in Portugal.
Tilray, a company certified in medical cannabis research and production, has secured all the licenses to export cannabis seeds and clones to be cultivated at the Biocant Research Park, in Cantanhede, Portugal, about 220 kilometers north of Lisbon.
The operation will process and package medical cannabis products for distribution across the European Union and will create 100 quality jobs involving research, processing, and distribution.
“Bringing live plants to Portugal is an important milestone for the company,” Tilray’s CEO, Brendan Kennedy, said.
“Tilray is proud to bring our medical cannabis research and production expertise to the European Union, to better serve patients, health care providers and researchers throughout the continent,” he added.
The facility, expected to be completed by 2018, includes an indoor laboratory and genetics bank, a 10,000 m2 greenhouse, and a 3,000 m2 processing facility with the expectation of expanding in the years to come.
Tilray is a global medical cannabis research leader based out of British Columbia, Canada. On November 8th Tilray announced to the public that they have completely exported medical cannabis from its main hub in Canada to their EU campus in Cantanhede, Portugal. A pioneer in the research and production of medical cannabis and cannabinoids, currently Tilray serves tens of thousands of patients, physicians, pharmacies, governments, hospitals, and researchers in seven countries spanning four continents in Australia and New Zealand , Canada, Germany, and Portugal (Tilray Portugal Unipessoal Lda).