Emblem Corp. (“Emblem”) announced that its Board of Directors has approved the Company’s formation of a joint venture under the name “Emblem Germany” (the “JV”) with German pharmaceutical wholesaler Acnos Pharma GmbH (“Acnos”) for the purpose of exporting Emblem branded cannabis products from Canada and importing them into Germany. Subject to completion of definitive agreements with respect to the JV, the JV will be 60% owned by Emblem and 40% owned by Acnos. With a population of approximately 82 million and federal health insurance coverage for medical cannabis, Germany’s adoption of cannabis has created one of the largest legal medical cannabis markets in the world. Subject to all applicable regulatory approvals and the entering into of definitive agreements setting out the terms of the JV, Emblem will supply the JV with cannabis oil for sale to German pharmacies, wholesalers, and clinical labs for medical purposes.
Hemp Land, Cannabis Hemp Blog, 12/09/2020 14:11:00