Canopy Growth Corporation announces acquisition of largest Czech medical cannabis company Annabis Medical
SMITHS FALLS, ON and PRAGUE, Czech Republic, April 15, 2018 Canopy Growth Corporation (TSX: WEED) (“Canopy Growth” or the “Company”) is pleased to announce that the Company has signed definitive agreements to acquire Annabis Medical s.r.o (“Annabis Medical”), expanding the Company’s focus into another emerging medical cannabis market. This transaction is scheduled to close Monday, April 16, 2018.
Annabis Medical is the leader in the Czech Republic’s medical cannabis industry and currently imports and distributes cannabis products pursuant to federal Czech licenses, with products for sale through pharmacy channels across the Czech Republic. Its founder and CEO, Dr. Robin Kazík, will continue to lead and grow the Czech subsidiary as part of the larger Canopy Growth family.
This acquisition is another example of our commitment to expanding Canopy’s European presence and furthering our position of leadership. We look forward to supplying Czech customers with our high quality, GMP-produced medical cannabis products, and providing further resources to support education for Czech pharmacists, patients and healthcare practitioners.
Mark Zekulin, President, Canopy Growth
By combining Canopy Growth’s extensive global experience and network with the strong national position of Annabis Medical, Canopy is proud to bring its renowned Spectrum Cannabis brand to another European market.
With a strong footprint and established distribution network in the Czech medical cannabis market, as well as a history of importing Canadian cannabis, we are excited to join the Canopy Growth family. This move will allow us to more rapidly diversify our product offering and strengthen our access to supply as we scale in the market.
Dr. Robin Kazík, Founder and CEO of Annabis Medical
The acquisition of Annabis Medical will build on Canopy Growth’s position of leadership in the