Germany Cancels Cannabis Tender, Leaving Short-Listed Canadian Companies in Limbo

Article by Mark Rendell, Financial Post

Germany cancels cannabis tender, leaving short-listed Canadian companies in limbo Even though the cancellation was expected, it’s still a setback for some companies that placed large financial bets on the tender /Sean Gallup / Getty Images

Cannabis companies eager to grow product in Germany are back to square one, after the German government officially cancelled a tender process last week that had been stalled since March.

The German government had been looking to award the country’s first cultivation licences, and put out a call for companies that could supply it with a total of 6,600 kilograms of medical-grade cannabis, grown in-country.

A number of Canadian companies, including Canopy Growth Corp., MedReleaf Corp. and Aphria Inc. (through its acquisition of Nuuvera Inc.), were on the short list alongside their domestic partners, according to people with knowledge of the tender process.

Last week, however, the department in charge of Germany’s medical marijuana regime sent out letters informing finalists that the tender had been cancelled.

“Nothing about what is happening is unexpected, at least to me or anybody else who’s involved,” said Pierre Debs, managing director of Canopy’s European division.

The tender process, which began last summer, had not budged since March, when a Dusseldorf higher court judge halted it due to petitions from companies that felt the process had been unfair.

Read the full article here.

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