Speakeasy Looks to Expand into German Market
Ryan Allway
June 19th, 2018
Exclusive, News
The global cannabis industry could reach nearly $60 billion by 2027, according to Arcview Market Research, driven by the ongoing legalization of cannabis around the world. While North America has pioneered legalization among G20 nations, many parts of Europe have taken a pro-cannabis stance that could yield an enormous long-term market. Investors may want to take a look at companies focused on this area for potential opportunities.
Speakeasy Cannabis Club Ltd. (CSE: EASY) (FFT: 39H), a late-stage applicant under Health Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR) represents a compelling opportunity to invest in Europe’s burgeoning cannabis industry.
Europe’s $60B Opportunity
The European medical cannabis market could be worth about €50 billion, or about $59 billion, once all markets have implemented legislation and market infrastructure to support cannabis, according to Prohibition Partners’ European Cannabis Report. Germany, Poland, and the Netherlands have the most advanced cannabis markets in the region, but the report’s authors note that many other markets are following in their footsteps.
While many European countries are exploring cultivation, the majority of the region’s supply comes from Canada, where cannabis enjoys federal legalization. The good news is that cannabis-based drugs have been seeing steady support, including GW Pharmaceuticals’ (NASDAQ: GWPH) Sativex, while cannabis flower and oils have been legalized in several countries for patients that suffer from approved medical conditions.
Germany became Europe’s largest market in March of last year after it introduced new legislation and ten production licenses. The country’s system is geared towards partnering with international companies, such as those in Canada, that offer vast experience in a new market. From Germany, these companies could then export to other countries where cannabis has been legalized across the European Union given the trade agreements that are already in place.
Speakeasy Looks to Germany
Speakeasy Cannabis Club recently announced a memorandum of understanding with HerbaMedica GmbH to export premium cannabis to Germany and European markets. Under the terms of the deal, HerbaMedica will purchase and distribute a fixed amount of product each year from Speakeasy for an initial three year period. HerbaMedica will cover the external costs for the inspection of Speakeasy facilities by Germany authorities.
“By having HerbaMedica distribute our products throughout the EU, we gain access to a significant amount of possible clientele,” said Speakeasy CEO Marc Geen in the press release announcing the memorandum of understanding with HerbaMedica. “Currently, there are only seven approved cannabis importers to Germany, Speakeasy is excited to be an applicant for this opportunity to join this group of selected few.”
By taking a craft cannabis approach, the company aims to appeal to Millennial recreational buyers in Canada and patients looking for precise dosing and unique delivery methods in Canada and European markets. Once it secures its license from Health Canada, the company plans to develop a cannabis campus that houses five craft growers with individual identities and genetics on about 300 acres of land in the “Napa Valley of Weed”.
Looking Ahead
Speakeasy Cannabis Club Ltd. (CSE: EASY) (FFT: 39H) represents a compelling investment opportunity in the global cannabis industry. In addition to its innovative craft approach, the company’s recent deal to expand into Germany and European markets represents a compelling growth opportunity over the long-term. Investors may want to take note as the company moves closer to securing a license to become a licensed producer.
For more information, visit the company’s website at www.speakeasygrowers.com.
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The above article is sponsored content. Emerging Growth LLC, which owns CannabisFN.com and CFN Media, has been hired to create awareness. Please follow the link below to view our full disclosure outlining our compensation: https://cannabisfn.com/legal-disclaimer/
This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.
About Ryan Allway
Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.
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