Emblem to Launch Emblem Germany With Acnos Pharma

Emblem Germany

The Toronto-based medical cannabis company Emblem Corp. (TSX:EMC) (OTC:EMMBF) has announced that it will be entering into a partnership with German-based pharmaceutical company Acnos Pharma, to create a joint venture known as Emblem Germany.

According to the announcement, which was made on Wednesday, the joint venture will help Emblem to expand its global footprint by exporting Canadian cannabis to the German market.

Emblem will retain a 60% ownership over Emblem Germany, while Acnos will have a 40% ownership; both companies are working together and hope to have exports be ready for sale in Germany sometime in 2019.

CEO and President of Emblem, Nick Dean, has said that "forming Emblem Germany with Acnos supports [Emblem's] market development efforts to establish world-class distribution channels in the regions where cannabis use is federally legal."

Cannabis oil will be supplied by Emblem to Emblem Germany for sales in "German pharmacies, wholesalers and clinical labs for medical purposes."

Dirk Simonis, CEO of Acnos, has said that the company has "been impressed with the approach and progress Emblem’s medical division has made in establishing cannabis as a pharmaceutical product.”

Emblem Germany will allow Emblem to establish itself in what is "one of the largest legal medical cannabis markets in the world," according to the company's press release, as Germany has had federal health insurance coverage for the use of medical cannabis. 

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Simonis also added that he believes "Emblem’s medical product innovation strategy is aligned to" Ancos'.

Shares of Emblem rose 5.80% on Wednesday after the announcement was made. The company was able to close at a share value of CAD $1.46 and reached a high of $1.46 and a low of $1.40.

On Tuesday, Emblem shares also grew 2.99%, and the company closed at $1.38.

Do you think that Emblem can stay on an upward trend in share value?

Featured Image: rawpixel via Pixabay

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