Every day, the cannabis market is becoming further globalized since numerous countries across the world are legalizing the consumption of the herb. Apart from countless benefits marijuana provides to its consumers, it also has certain advantages for businesses in the countries that have legalized the plant. It seems like one Australian company is certainly aware of this fact as it is making moves to expand its presence in the European MMJ market.
A company from Perth, Australia, has recently signed a new distribution deal with a cannabis company.
Under the agreement, Australian MGC Pharmaceuticals will cultivate and process weed at its growing and extraction centers in Europe. According to the Business News of Western Australia, the resulting cannabis products will be wholesaled to Mikro+Polo located in Maribor, Slovenia. The Slovenian company, in turn, is planning to distribute cannabis in three countries that used to be part of the former Yugoslavia: Slovenia, Bosnia, and Croatia.
MGC will wholesale the medical cannabis products to Mikro at market prices, which currently reach up to $67 per gram.
This month, MGC has received a special European license to grow marijuana in Slovenia, according to the Business News.
Slovenia legalized medical cannabis in 2014, and Croatia followed its example in 2015.In 2016, Bosnia created a task team to investigate medical marijuana legalization.