Canopy Growth to Spend $115 Million to Grow Marijuana in EU
- Canadian cannabis giant eyes sites in Spain, Italy, Greece
- European production may reach hundreds of kilos weekly
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Canopy Growth Corp., one of the world’s biggest medical cannabis companies, is planning a major investment in Europe.
The marijuana grower will spend more than 100 million euros ($115 million) to expand production in the EU over the next two years, according to Pierre Debs, managing director at Canopy’s Spectrum Cannabis Europe division. The weed giant -- valued at about $9.8 billion -- is planning to build two new production facilities to grow hundreds of kilos of cannabis for use in treatment.