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One of the world’s largest cannabis companies is planning a major investment into Europe, signalling it believes in a future of relaxed marijuana regulations on the continent.

According to Pierre Debs, managing director at Canopy’s Spectrum Cannabis Europe Division, Canopy Growth Corp plans to invest more than 100 million euros (US$115 million) into the EU over the next two years. The investment will be used to expand its European operations, building two new production facilities to meet growing demand.

Tides have begun to shift on cannabis regulation in the last 18 months in Europe, as countries such as Italy, Germany, the U.K., Portugal, and Greece, among others, have either decriminalized or allowed for medical-use cannabis.

The company will build its new growing facilities in Italy, Greece, or Spain, due to the sunshine they provide and the ability to continue to increase operations if needed. The new facilities will be able to grow tons of cannabis every quarter, in conjunction with its Denmark facility, currently in construction, projected grow 200 kilos a week when finished at the end of 2019.

The new facilities are expected to be finished by 2020.

Source: https://www.bloomberg.com/news/articles/2018-11-08/canopy-growth-to-spend-115-million-to-grow-marijuana-in-eu?

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