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Sativa Investments moves into Germany, one of Europe’s largest medical cannabis markets

The ultimate goal is for the Sativa Germany joint venture to sell CBD products supplied by Sativa from the UK

cbd oil
Medical cannabis sales in Germany are set to hit €64mln this year

Cannabis investment vehicle Sativa Investments PLC (NEX:SATI) is moving into Germany as it looks to exploit the growing demand for cannabinoid products in the country.

Germany is one of the largest medical cannabis markets in Europe following the government’s decision to approve its use by prescription last year.

READ: Sativa positions itself for ‘huge opportunity’ in medicinal cannabis

Sativa has formed a joint venture with Germany-based Lexamed which will secure German wholesale, import and export licences for the distribution of medicinal cannabis products.

The long-term plan is for the products sold by the newly established Sativa Germany to be supplied by Sativa’s UK arm.

That is subject to the company successfully applying for a Home Office Medicinal Cannabis licence, so for the time being the joint venture will source products from any jurisdiction where it is regulatorily accepted.

A Sativa office is being set up in Stuttgart which will sell CBD products supplied by its subsidiary, George Botanicals.

Sative is initially investing €80,000 into the joint venture, which will give it a 60% majority shareholding. This figure could rise up to €250,000 once the German licence has been granted.

‘Important step’

“Initially, Sativa Germany has secured office space in Stuttgart and are actively recruiting sales staff to exploit the growing demand for CBD products in Germany,” said chief executive and founder Geremy Thomas.

“Once regulatory compliances are met, Sativa will supply top quality medicinal cannabis products to the German market.”

He added: “This is an important step for the Company, as it allows an entry point into the key German market to help continue its seed to consumer strategy.”

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NEX:SATI
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