Cannabis Investors are Quickly Eyeing Big Opportunity in Europe
Financialnewsmedia.com News Commentary
PALM BEACH, Florida, Jan. 30, 2020 /PRNewswire/ -- Europe may soon surpass the U.S. with regards to cannabis, says International Cannabis Conference (ICBC) founder, Alex Rogers, as noted by Leafly. "Luxembourg is about to legalize, Switzerland is about to legalize. Germany is only three to five years away from legalization. The European market is going to be bigger than the US market, one day," he says. Plus, according to market research firm, Reportlinker, "cannabinoid testing in Europe is likely to have a positive impact on the growth of the Europe cannabis testing market in the coming years. The growing number of countries are adopting medical cannabis laws but the governmental officials are rare that encouraging healthcare professionals to become educated about cannabis plant medicines." That's creating sizable opportunity for companies including Terrace Global Inc. (TSX-V:TRCE), The Green Organic Dutchman (TSX:TGOD)(OTCQX:TGODF), PharmaCielo Ltd. (OTCQX:PCLOF)(TSX-V:PCLO), Tilray Inc. (NASDAQ:TLRY), and Aphria Inc. (NYSE:APHA)(TSX:APHA).
Terrace Global Inc. (TSXV:TRCE) BREAKING NEWS: Terrace Global Inc. announced that it has entered into a genetics supply agreement with Apollo Green Inc. whereby the parties have entered into an exclusive relationship with respect to the acquisition and importation of high-THC genetics for the Company's medical cannabis operations in Portugal. Terrace Global has commenced acquiring the requisite starting materials for the first phase of its greenhouse facilities in Portugal, which will be comprised of approximately 65,000 square feet of greenhouse facilities, 5,000 square feet of E.U. GMP processing and drying facility and 3,300 square feet administrative building.
Pursuant to the Genetics Supply Agreement, Terrace Global will be acquiring the following genetics: Chem Stallion (15-25% THC, 0.5-0.1% CBD), Twisted Grape (15-25% THC, 0.5-0.1% CBD) and Apollo Skunk (15-25% THC, 0.5-0.1% CBD). These genetics add to Terrace Global's existing inventory of high CBD genetics which were acquired from Colorado and used in its outdoor cultivation in Uruguay. "We are pleased to be working with Apollo Green to develop our genetics inventory with a view to focusing on high-THC strains that we expect to be well received by the European Union medical cannabis market participants. Apollo Green has an extensive library of genetics that include a diverse set of market leading strains and cross-breeds," commented Francisco Ortiz von Bismarck, Chief Executive Officer of the Company. "Being able to source these genetics is an important milestone in the development of European operations. Without quality genetics, there is no pathway to success in the burgeoning E.U. medical cannabis industry."