Additional 20 hectares of outdoor growing space increases company’s capacity to supply medical cannabis across Europe and to other international markets
Tilray, Inc. ("Tilray" or "the Company") (NASDAQ:TLRY), a global pioneer in cannabis research, cultivation, production and distribution, today announced that its wholly-owned subsidiary Tilray Portugal Unipessoal Lda. ("Tilray Portugal") has signed a Definitive Agreement ("The Agreement) with Esporão, adding 20 hectares of outdoor cultivation space in Alentejo, Portugal, in addition to its existing 5 hectares of indoor and outdoor cultivation and 6,500 square meters of manufacturing, processing and research space at its European Union (EU) Campus in Cantanhede, Portugal.
"We're proud to be expanding our capacity to produce high-quality medical cannabis products in Europe using innovative outdoor growing methods." says Sascha Mielcarek, Tilray's Managing Director, Europe. "We look forward to supplying patients in need in existing and new markets with Tilray's medical cannabis products, proudly produced in Europe."
Tilray is leasing the land from Esporão, one of the largest and most sophisticated agricultural businesses in Portugal. Esporão will provide operational and technical support at the site to a team of Tilray experts, including master horticulturists, growers and quality assurance managers. Tilray will grow, harvest and dry medical cannabis materials at the additional site that will then be transported to Tilray's EU Campus in Portugal for processing, manufacturing and distribution across Europe and other international markets. The entire outdoor cultivation site was successfully planted in July and a harvest is expected in fall 2019.
Tilray's EU Campus in Portugal is a multi-faceted production facility that includes indoor, outdoor and greenhouse cultivation sites; research and quality control labs; and processing, packaging and distribution sites for medical cannabis. In May 2019, Tilray Portugal received its manufacturing license and initial GMP-certification, allowing the company to manufacture and export GMP-certified dried cannabis as an active substance for medical products. To date, Tilray has invested approximately €20 million in the facility.
Tilray's EU Campus also serves as a hub supporting Tilray's clinical research and product development efforts across Europe. The site currently employs more than 150 people, with production ramping up and multiple harvests anticipated in the coming months. In April 2019, Tilray hosted an official ribbon-cutting ceremony celebrating the grand opening of its EU Campus.
Tilray is a global pioneer in the research, cultivation, production and distribution of cannabis and cannabinoids currently serving tens of thousands of patients and consumers in 13 countries spanning five continents.