A Canadian marijuana producer cited hemp and CBD’s possible in Europe as it announced plans to obtain a smaller sized Canadian enterprise with a CBD subsidiary in the Netherlands.
The announcement Wednesday that Toronto-primarily based Supreme Cannabis plans to obtain Truverra underscores the interest in accessing European markets.
Supreme valued the acquisition at roughly $20 million.
Supreme Cannabis noted that Truverra Europe currently has distribution on the continent and will “provide an extra entry point into Europe’s CBD wellness marketplace.”
The move comes amid uncertainty in the European CBD marketplace.
European Union regulators have stated the molecule cannot be added to foods or dietary supplements without the need of extra scientific evaluation, some thing European hemp producers are attempting to undo. (As in the United States, CBD solutions are broadly readily available in Europe in spite of conflicting guidance from overall health regulators.)
Supreme is traded on the TSX Venture Exchange as FIRE. Truverra is privately held.
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