Canopy Growth sees opportunity in cannabis legalization in Germany

Canopy Growth Corp. says cannabis legalization in Germany presents an opportunity for the company.

In a press release on Friday, the Smiths Falls, Ont. producer said cannabis will be officially recognized in Germany as a “non-narcotic” as of April 1, allowing adults to consume cannabis legally. Canopy said the change will allow the company to position itself as a top three player in Germany’s cannabis industry. 

“This pivotal change promises a safe and legal environment for cannabis consumption and will also propel Storz & Bickel - our world-leading and proudly German brand - to new heights, providing the highest quality vaporization devices to adult use and medical consumers,” David Klein, the Canopy Growth CEO, said in a statement Friday. 

“We are thrilled to be at the forefront of this progressive change in Germany, setting a strong precedent for cannabis reform across Europe.”