The Aphria/Tilray Merger Will Make The Combined Entity A Major European Cannabis Market Participant

Until cannabis is legalized or decriminalized in the US, we continue to view the European Union (EU) as one of the most attractive markets over the long-term.

During the last year, we have seen a wave of positive cannabis legislation support the growth of the EU cannabis market. We believe this vertical is in its infancy and continue to monitor the companies that are focused on this emerging market.

We consider Germany to be one of the most attractive cannabis markets in the EU and have seen an increase in the number of companies that are levered to it. Today, we want to highlight two operators that have been highly focused on this opportunity. The companies, Aphria Inc. (APH.TO) (APHA) and Tilray Inc. (TLRY) recently reported a merger agreement and we are favorable on the amount of leverage that the combined company will have to the opportunity in the EU.

A Global Leader in the Making

Earlier this week, Tilray, Inc. (TLRY) announced a major milestone as it relates to the cannabis opportunity in the EU and reported to have been selected by the French National Agency for the Safety of Medicines and Health Products (ANSM) to supply Good Manufacturing Processes (GMP) certified medical cannabis products for experimentation in France.

This agreement expands Tilray’s position in the EU cannabis market and we are favorable on how this aspect of the business has advanced. According to the agreement, Tilray is expected to start shipping products to France in the first quarter of 2021. The experiments are expected to take place over an 18 month to 24 month period and we will monitor how the agreement supports revenue growth in the coming quarters.

Under the agreement, Tilray products will administer cannabis products to patients who are not benefiting from existing treatments and for therapeutic indications that include: neuropathic pain, severe forms of epilepsy, cancer or anti-cancer treatments, palliative care, and sclerosis or other pathologies of the central nervous system (CNS).

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Brian P 4 weeks ago Member's comment

Buy it. Sell it. Buy it again.