Nuuvera, a Canadian medical cannabis manufacturer, has earmarked Malta as a location for its $5 million business expansion into Europe.
“Nuuvera has developed strategies to expand in several foreign cannabis markets, including Germany, Israel, Italy and Malta,” the company said in its most recent company filing.
“It intends to focus on low-cost, high-quality inputs and build GMP-certified labs to create products and formulations for distribution to local and global markets.”
Nuuvera described Malta as a target market, since plans were underway for Malta to license cannabis producers.
“The government has also begun the process of updating the laws relating to medical cannabis, which may include enacting legislation to permit the granting of cultivation, production and import/export licences,” Nuuvera said.
Elsewhere in Europe, Nuuvera is also one of the finalists in a tender to supply Germany’s market and already has an agreement in place to export marijuana to a German pharmaceutical distributor. Furthermore, Nuuvera is currently one of only seven producers that have secured a licence to import cannabis into Italy.
Nuuvera was acquired last week by medical cannabis giant Aphria for 826 million Canadian dollars (€538 million).
In a Labour Party activity on Sunday, Prime Minister Joseph Muscat said there were at least three names interested in producing medical cannabis in Malta.