EMMAC acquires 100% of Terra Verde with the oldest cannabis cultivation licence in Portugal.
M2 PHARMA-July 16, 2019-EMMAC acquires 100% of Terra Verde with the oldest cannabis cultivation licence in Portugal
(C)2019 M2 COMMUNICATIONS
European medical cannabis company EMMAC Life Sciences Ltd revealed on Monday the completion of the acquisition of 100% of Terra Verde LDA.
Upon closing, the acquisition establishes EMMAC as the largest vertically integrated cannabis company in Europe, with operations in eight territories and licensed distribution channels for medical cannabis in Europe's largest medical cannabis markets, namely Germany, Italy and the UK.
In conjunction with the acquisition, EMMAC will begin to invest significantly in Terra Verde's facilities, including the construction of a GMP-certified facility for storage, processing and manufacturing at the Portuguese site that will serve both the domestic and the international markets.
This acquisition is EMMAC's largest acquisition to date and completes the full integration of its supply chain, which comprises of GACP cultivation, extraction and manufacturing in accordance with EU Good Manufacturing Practices (GMP) and licensed distribution channels for medical cannabis in the UK, Germany and Italy.
The Portuguese genetics and cultivation company Terra Verde was founded by David Yarkoni, a world-renowned breeder and geneticist who has pioneered plant-based research and production for more than 30 years. In 2014, Terra Verde acquired Portugal's first, and Europe's second, active cultivation license, which allows for eight hectares of greenhouse and outdoors cannabis cultivation. Its current crop of high-grade medical cannabis is due for harvest in 30 days.
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|Date:||Jul 16, 2019|
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