Tilray, a Canadian-based global leader in medical cannabis research and production, announced today it will enter the European Union market after receiving a license from the Government of Portugal. Tilray will invest $20 million in an EU campus comprising multiple facilities in and around the BIOCANT Research Park in Cantanhede, Portugal.
According to Tilray’s CEO Brenden Kennedy, Portugal has “an ideal climate to cultivate cannabis, a highly-skilled healthcare workforce, and a vibrant research community. It’s more environmentally-friendly and cost-effective to supply European patients from Portugal than from northern climates.”
The new EU Campus will include indoor, outdoor and greenhouse cultivation sites, as well as processing, packaging and distribution facilities. It will also be a hub for Tilray medical research and product development serving all of Europe. The buildout will be in phases, with the first phase of facilities finished in spring of 2018, and the rest by 2020.
Tilray is the Canadian subsidiary of cannabis-focused Privateer Holdings in Seattle, WA. Privateer also owns Leafly, the leader in cannabis information services with over 10 million monthly web visitors, and Marley Natural, a cannabis product developed in conjunction with the Bob Marley estate.