CannTrust Holdings (TSX:TRST) entered into a joint venture agreement with STENOCARE, a company located in Denmark.
As quoted in the press release:
STENOCARE is one of the first Danish companies to receive its license to grow and produce medical cannabis, as well as to import and sell cannabis products in Denmark.
Under the terms of the Joint Venture, CannTrust will receive a 25 percent equity stake in STENOCARE together with the right to appoint half of its Board of Directors. STENOCARE will initially sell CannTrust’s market leading standardized cannabis products in Denmark while working towards developing a domestic growing facility. Construction of the facility is expected to begin in the second quarter of 2018 with technical expertise being provided by CannTrust.
“CannTrust is very excited to partner with STENOCARE in the rapidly growing global market for medical cannabis. This is a key step in our strategy to expand our best in class products on a global platform. We look forward to building, together with STENOCARE, an industry leading facility in Denmark. By leveraging off our leading-edge perpetual harvest technology, STENOCARE will be able to deliver high-quality, standardized medical cannabis products for the Danish market” said Eric Paul, CEO of CannTrust.