Kanabo Group PLC - medical cannabis research and development - On Tuesday announces that Materia, a company Kanabo has agreed to buy in a reverse takeover, received a licence to produce cannabis in Malta. The licence is the final requirement for Materia to start commercial production and export of cannabis. Materia Malta has an annual throughput capacity of 6,000 kilogrammes, representing a potential sale value of EUR36 million. Materia will start fulfilling orders across Europe immediately, starting with initial target markets of Germany, the UK and Malta.
By Ivan Edwards; ivanedwards@alliancenews.com
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