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Canada’s largest licensed cannabis producer continued its aggressive drive overseas by signing a deal to be the exclusive supplier of medical marijuana for Australia’s AusCann Group Holdings Ltd.
Canopy earlier agreed to take a 15% ownership stake in the Perth-based company, which is a cultivator, manufacturer and supplier of Australian-produced medical marijuana.
Smith Falls-based Canopy (TSX Exchange: WEED) will begin supplying AusCann with a range of medicines for research and commercialization in Australia, the company said in a news release.
In August, AusCann was granted a medicinal cannabis manufacturing licence by the Office of Drug Control,