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Canadian medical cannabis producer announces Europe expansion plan

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Medical marijuana producer Atlas Biotechnologies Inc. has reportedly announced its plans for expansion to European markets, starting with Denmark. The expansion includes a new medical cannabis project called Atlas Growers Denmark A/A and has financial support through assets from Egehøj Champignon.

These assets include a 170,000 sq.ft. facility in Funen Denmark, serving as an operation base for cultivation and production of medical cannabis and related products. The assets are available for purchase for Atlas at any time for the next 20 years at a fixed price.

The facility is equipped with 36 individual climate-controlled spaces, with adjustable microclimates to accommodate the growth requirements for different varieties of medical cannabis cultivar.

Atlas has submitted its license for marijuana cultivation along with its lease to the Danish Medicine Authority. The first harvest is expected to take place in early 2020.

Atlas’s special production approach and commitment to providing reliable cannabis products through a pharmaceutical route has ensured the consistent high quality and effectiveness of all its products.

Atlas’s operations in Denmark will be overseen by Mr. Kent Stenvang, Owner & CEO of Egehøj Champignon, who has over 30 years of business experience. Mr. Stenvang spoke about this alliance, stating his pleasure at joining the Atlas team and fascination with their research and focus on medical marijuana. He further stated that his expansion will create at least 50 jobs at a local level with more than 100 expected hires by the end of next year.

Atlas President & CEO Sheldon Croome also spoke about the expansion, stating that the decision to expand their production base outside Canada has been in the works for a while now and expressed his pleasure at securing such a lucrative opportunity.

He added that the Denmark development would provide Atlas a solid ground in the burgeoning European cannabis market and stated that Atlas is looking forward to developing one of the leading, modern indoor cultivations and GMP processing units in Europe, the next major milestone in the legalization of medical cannabis.

Source Credit: https://www.globenewswire.com/news-release/2019/09/03/1909767/0/en/Atlas-Biotechnologies-Announces-European-Expansion.html

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