The press has spent a considerable amount of time, focused on cannabis developments in the U.S. and in Canada. 

Canada, for example, just legalized cannabis throughout the country.  Corporate America is quickly waking up to the opportunity, transforming multi-billion-dollar industries.  U.S. states are approving the use of cannabis for recreational or medicinal use.  

However, at the same time, the cannabis story is proving to be just as exciting in Europe.

According to Canaccord Genuity as noted by The Boston Globe, “CBD, has become a ‘trending ingredient’ in a range of consumer goods and is now highly visible in pharmacies and health stores. It estimates the CBD product market in Europe was worth 750 million euros ($857 million) to 1 billion euros in 2018…”

As the story just begins to explode in Europe, we have an eye on three stocks with European exposure, including Aurora Cannabis ACB $-  -% and Tilray Inc. TLRY $-  -%.

Aurora Cannabis Inc. (ACB) 

ACB just acquired privately held, Whistler Medical Marijuana Corporation, an organic cannabis company for $131.3 million. Upon completion of the acquisition, Aurora will own two of Whistler’s facilities including one in Whistler, British Columbia and the other one in Pemberton.  

Aurora intends to leverage its expertise in completing EU GMP compliant facilities to accelerate certification of the new Pemberton facility, ensuring the Company can leverage the Whistler brand on a global scale. Through integration with certain of Aurora's organic compliant grow technologies, the Company anticipates increasing productivity at both of the Whistler facilities and increase product offerings for both domestic and global markets. Whistler currently sells medical cannabis derivatives internationally to both Australia and the Cayman Islands.

Tilray Inc. (TLRY)

TLRY was one of the first to have a facility certified by the European Medicinal Agency (EMA) as Good Manufacturing Practices (GMP) compliant in 2017.  

“GMP certification is the most rigorous standard that manufacturers of medical products must meet in their production processes, and it provides regulators and health care providers in countries new to medical cannabis with certainty that Tilray products are the safe and smart choice,” said Dr. Joshua Eades, Tilray’s Chief Science Officer.

GMP certification allows Tilray to expand distribution of its products, including whole flower, oils or capsules, to new markets around the world.