Kaneh Bosm Biotechnology Inc's (CNSX:KBB) recently acquired portfolio company, EU Cannabis Corp, is close to applying for Greek medical cannabis licence.
EU Cannabis controls a 13-acre land package situated in Northern Greece, which upon receipt of the medicinal cannabis licence will be dedicated to medical grade cannabis cultivation, extraction, distribution, as well as research and development.
READ: Kaneh Bosm BioTechnology rapidly growing its medical cannabis and cannabidiol portfolio
EU Cannabis is in the final stages of the application process for a licence and in the coming days plans to commence the installation of fencing and security gates according to established best practice guidelines.
While awaiting conditional approval from the Greek government, EU Cannabis will also put the finishing touches to an alarm, signage and security plan that is fully compliant with Greece's current medical Cannabis regulatory environment.
“EU Cannabis affords Greece a turnkey service offering that will allow for the expedited development of a vertically integrated medical cannabis facility,” said Eugene Beukman, the chief executive officer of Kaneh Bosm.
“By leveraging access to capital, global connections and cannabis expertise, EU Cannabis will act as a partner and advisor to the Greek government's quest to establish a safe and sustainable medical cannabis industry,” he added.
“EU Cannabis provides an unparalleled network of local partners and industry expertise necessary achieve a world-class cannabis operation. EU Cannabis's expanding cultivation capabilities will be complemented by Kaneh Bosm's established distribution network of approximately 35,000 pharmacies throughout 16 countries," Beukman concluded.