Medical Marijuana Company Tilray (TLRY US) rallied on basically no news today. We have previously written about all about the recent parabolic rise of the whole Cannabis sector and increased likelihood for continued m&a in the sector.
One potential reason for the rise in Tilray (TLRY US) could be that currently the world’s biggest market for medical Marijuana Germany, will start award cultivation licenses start 2019. Marijuana Business Daily notes;
Germany intends to award the country’s first domestic licenses for medical cannabis cultivation in the first quarter of next year, with the first crop expected in 2020. The government laid out the timetable in a written response to queries from the Free Democratic Party parliamentary group in the Bundestag, according to the weekly German-language medical magazine Deutsches Aerzteblatt.
Recently Netherlands agreed to substantially increase shipments of Medical Marijuana to Germany to help with the massive increase in demand.
In related news with regards to m&a, we wrote yesterday about Aurora (ACB CN) acquiring ICC Labs (ICC CN) to get exposure to Latin-America. Today Aurora (ACB CN) announced it had acquired Agropro UAB, Europe’s biggest producer, processor and supplier of hemp, and Borela UAB, a hemp processor and distributor for $6.2 million. Aurora (ACB CN) CEO Terry Booth stated;
“Agropro’s position as Europe’s leading producer of premium organic hemp along with the significant and previously unutilized CBD production from the large quantities of currently discarded biomass, makes this an accretive acquisition and one that positions Aurora well to become a global leader in organic CBD-based wellness products.
With the continued legalization in various forms of Cannabis around the world, many players are rushing to position themselves. This will lead various forms of trading opportunities for companies through the value-chain and geographic location.