Readers of New Cannabis Ventures likely recall how we alerted to the huge opportunities in Canada last June, and the Canadian market continues to evolve as a leader in the global cannabis industry, with legalization efforts likely to result in legal sales commencing in about a year. We continue to see the Canadian market as a likely source of strong growth ahead in both its medical and legal markets, but we want to highlight developments in other geographies that merit attention.

The most exciting development has been in Germany, which is proceeding with a recently approved national medical cannabis program. At present, medical cannabis is available to German patients via importation, but the country is in the process of licensing an initial ten cultivators in the months ahead. Our understanding is that the regulators are requiring a certain amount of experience in producing medical cannabis, and this opens the doors to certain Canadian LPs. ABcann Global (TSXV: ABCN) (OTC: ABCCF), CanniMed (TSX: CMED) (OTC: CMMDF) Canopy Growth (TSX: WEED) (OTC: TWMJF), Cronos Group (TSXV: MJN) (OTC: PRMCF), through its wholly owned Peace Naturals, Harvest One (TSXV: HVST) (OTC: HRVOF) and Maricann Group (CSE: MARI) (OTC: MRRCF) have all discussed publicly their current export roles or their intent to apply for a license (or partner). The size of the country (81mm) as well as the unique characteristics of distribution through pharmacies and insurance coverage make Germany a key market to follow. Additionally, we expect that the progress in Germany will fuel broader adoption across Europe.

Another market that has begun to develop is Australia, where two companies have received licenses, Auscann Group (ASX: AC8) (OTC: ACNNF) and Cann Group (ASX: CAN). The market is likely to have a very medical focus initially, and there are several other publicly-traded companies that are pursuing licensing for research or commercial production. Canopy Growth has a strategic alliance with Auscann Group and has approximately 10% ownership, while Aurora Cannabis (TSXV: ACB) (OTC: ACBFF) owns 19.9% of Cann Group.

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