Canopy, the Whole Foods of Medicinal Marijuana Read more Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) is pleased to announce the acquisition of all remaining outstanding shares of its Chilean in-market entity, Spectrum Cannabis Chile SpA (“Spectrum Cannabis Chile”).
This transaction brings Spectrum Cannabis Chile fully under the Canopy Growth umbrella and directly supports the Company’s plans for development within the LATAM region which is home to more than 600 million people. Thanks to progressive regulations and Government support, Chile is known throughout Latin America as an ideal location for medical and pharmaceutical research. The country has more clinical studies per resident than any other in Latin America.
In line with the Company’s strategy of leveraging the strengths of each country, Chile will continue as Canopy LATAM’s regional research and development hub. Currently, Spectrum Cannabis Chile has a pain management focused clinical trial underway. The trial which has been approved at both Phase I and Phase II was designed by Dr. Serio Snchez, a Chilean doctor, medical cannabis pioneer, and the founder of Cannabis Chile, one of the country’s leading Medicinal Marijuana advocacy groups.