The additional land aims to expand the cultivation site, which already has 6,500 square meters of outdoor growing space, in addition to five hectares for indoor growing. Tilray is leasing the land from one of Portugal’s largest agriculture businesses, Esporão.
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The entire grow operation was planted in July and expects a harvest in the upcoming fall season.
To date, an estimated €20 million has been invested in the Portugal campus by Tilray. The site has received its initial GMP certification and is home to greenhouse growing, lab processing, quality control, packaging and distribution.
In a press release, Tilray's Managing Director of Europe, Sascha Mielcarek, touched on the importance of the news, saying, "We're proud to be expanding our capacity to produce high-quality medical cannabis products in Europe using innovative outdoor growing methods...We look forward to supplying patients in need in existing and new markets with Tilray’s medical cannabis products, proudly produced in Europe."
Tilray's stock traded around $42.10 per share at time of publication.
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