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Tuesday, May 17, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Miracle Valley enters German market via pharmaceutical wholesaler

Mac 1 is the first Canadian cannabis product to enter the European market via the Cantourage platform

Miracle Valley enters German market via European provider
Miracle Valley is based in Mission, B.C. Photo via Miracle Valley

German patients can now buy high-THC, British Columbia-grown pot products at their local pharmacies.

On Tuesday, the European medical pot firm Cantourage GmbH announced a partnership with Canadian licensed producer Miracle Valley Medicinal Alternatives Inc. to start offering its Mac 1 cultivar products to German pharmacies.

Miracle Valley’s operations are based in Mission, B.C. and will send dried flower to Cantourage to process them into medical cannabis products. The Berlin-based company has a Fast Track Access platform that enables producers worldwide to become part of the German market and focuses on long-term collaborations and carries products such as dried flowers, extracts, Dronabinol and pharmaceutical-grade CBD.

Miracle Valley operates in British Columbia and cultivates small-batch cultivars for the medical industry.

The privately held company was founded in July 2013 and operates five flower rooms each with an area of over 1,000 squared feet. It says it has dedicated three years to its Mac 1 flower and conducted numerous trials resulting in a unique product.

Cantourage CEO Philip Schetter said the Mac 1 cultivar is the first Canadian medical cannabis product to enter the European market via the Cantourage platform.

“Thanks to our partnership with Cantourage, we are able to bring our high-quality medical cannabis flowers to an audience outside of Canada and provide patients in Europe with a new option for medical cannabis cultivated in Canada,” Miracle Valley CEO Scott Mayer said. 

Read more: Germany’s new government says it will legalize cannabis

Read more: Germany’s coalition parties want to legalize adult-use cannabis

Other companies such as leading Canadian cannabis retailer High Tide Inc. (Nasdaq: HITI) (TSXV: HITI) (FSE: 2LYA) have started selling CBD products in Germany via its United Kingdom-based subsidiary Enigmaa Ltd., which operates online as Blessed CBD.

High Tide stock went down on Tuesday by 2.55 per cent to $4.58 on the Canadian Ventures Exchange.

Read more: High Tide enters German market via UK subsidiary Blessed CBD

Toronto-headquartered PharmaCielo Ltd. (TSXV: PCLO) (OTCQX: PCLOF)  but with primary operations in Colombia will start sending its first THC-dominant products to Germany by the end of the year.

The company said in February it signed a sales deal via its subsidiary PharmaCielo Colombia Holdings S.A.S. with independent pharmaceutical wholesaler Greenstein Germany GmbH.

Company stock went down 4.84 per cent Tuesday to $0.59 on the Canadian Ventures Exchange.

Read more: PharmaCielo to supply Germany with cannabis products from Colombia

Read more: Legalization could bring Germany €4.7B annually and create 27,000 jobs: survey

 

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