TORONTO – Canadian cannabis producer Tilray is placing its bets on budding demand from markets overseas as it begins shipping medical marijuana products to Croatia.
The company will be exporting two varieties of liquid capsules that contain the active medicinal ingredients of marijuana to patients in Croatia, which legalized the drug for medical use last year.
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The first contains 5.0 mg of tetrahydrocannabinol, or THC, and 5.0 mg of cannabidiol, or CBD, per capsule, while the second contains 2.5 mg of THC and 2.0 mg of CBD.
Tilray president Brendan Kennedy says the company is the first of the Canadian producers to ship medical marijuana products overseas.
READ MORE: Legalized marijuana: Capitalizing on cannabis or profiting from potheads?
“Health Canada informally told us that they issued us the first export permit,” says Kennedy, adding that after a lengthy application process, Tilray received the permit earlier this week.
Kennedy says Europe presents a good growth opportunity for Tilray as an increasing number of its countries have been choosing to legalize the drug.
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