Materia Malta, a Canadian medical cannabis and CBD company, has received its license for the production of cannabis for medical and research purposes from the Maltese Medicines Authority. With this license, the company can start producing and exporting medical cannabis to foreign markets like Germany, after receiving EU-GMP certification last May.
The facility located in Ħal Far has an annual capacity of 6,000 kg, with a potential sale value of 36 million euros based on a mixed average sale price in several key European markets.
“We are delighted to be fully licensed and to start generating income from our facility in Malta. I would like to congratulate our entire team for helping to realize our vision of a state-of-the-art treatment facility, especially working under the circumstances presented by the pandemic over the past 18 months, ”said Deepak Anand, CEO from Materia.
Malta Enterprise, the Maltese government's economic development agency, also praised Materia's work. Malta Enterprise CEO Kurt Farruga said: “We are delighted to see Materia take this step. We have worked closely with Materia from the start and the caliber of the team exemplifies the type of business we are proud to support here in Malta. We are convinced that Materia will be one of the industry leaders in the long term. "
Materia Malta has already started the process of importing its first batch of raw material for commercial production and will begin to fulfill its supply commitments imminently, starting with the initial target markets of Germany, Malta and the United Kingdom. UK. The first product has already been successfully registered on the narcotics license of Materia Deutschland GmbH before its importation into Germany.
“As happy as we are to have been licensed, we are immediately starting to execute the next phase of our plan,” commented Nick Pateras, Managing Director, Europe, Materia. “We now have a fully constructed and licensed access route to the European market for growing partners around the world. This encompasses our in-house processing expertise in Malta, in addition to our distribution capabilities in Germany, Europe's largest market, through Materia Deutschland. "
Source: newsweed.fr
