Shares of Tilray Inc. TLRY,
rose 3.6% in pre-market negotiations on Tuesday after the Canadian cannabis company said it was selected by France’s National Agency for the Safety of Medicines and Health Products (ANSM) to supply medical cannabis products for experimentation. Tilray said it will supply medical cannabis from the first quarter of 2021, during the period of the French experiment, which is expected to last 18 to 24 months. Cannabis will be exported to France from Tilray’s facilities in Portugal. “Today’s announcement marks another milestone for Tilray as we expand operations in Europe,” said Tilray Chief Executive Brendan Kennedy. “We are proud to be able to offer ANSM access to a variety of high quality pharmaceutical quality medical cannabis products, while supporting patients in need in France.” Tilray’s shares shot up 193.3% in the last three months through Monday, while ETFMG Alternative Harvest ETF MJ,
rose 68.5% and the S&P 500 SPX,
gained 13.4%.
