Indiva enters into agreement to acquire license in Denmark and creates gateway to European market

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Indiva will have the exclusive right to all cannabis-related production. Subject to applicable regulatory approvals, Indiva will also leverage the Denmark license for the importation of EU-GMP cannabis into the Danish and European markets.

 

Indiva has identified Europe as a key emerging market in cannabis, estimated at some $80 -100 billion at maturity1. Europe is home to greater than 500 million people and the growing acceptance of medical cannabis is leading to significant growth in registered patients.

"We are very excited about entering the European market," said Niel Marotta , CEO of Indiva. "This acquisition of a Danish license and collaboration with AEssense provides a gateway to the EU and the tremendous growth expected in the European cannabis market.  Indiva is now positioned to produce and distribute cannabis and cannabis derived products under some of the most stringent quality rules in the world. We look forward to further strategic partnerships to continue to develop this entry into a growing global market."

"We are looking forward to expanding our working relationship with Indiva from Canada to Denmark ," said Bob Chen , CEO of AEssense. "Our new Danish research laboratory will allow AEssense to continue to progress the cutting-edge technologies that make our automated aeroponic cultivation platform unique and deliver superior quality and higher yields for our customers. We believe the AEtrium platform will be the new standard for producing a premium, repeatable output for the Danish market and beyond.  Our collaboration with Indiva including access to a research location on-site will enable both companies to learn and grow, providing an optimal structure for information sharing and constant improvement"

Michael Joergensen of AEssense says, "We are confident that Indiva with AEssense's support and the AEtrium platform will provide patients in Denmark and the rest of Europe with the highest quality cannabis, meeting the most stringent standards. The AEtrium platform will produce ultra-clean pharma grade products while reducing produced waste up to 90% versus traditional cultivation methods. But most of all I am looking forward to Indiva making a real difference for patients".

Closing of the transaction is subject to certain customary conditions, including the execution of a definitive agreement, expected by year-end, completion of satisfactory due diligence, and applicable regulatory approvals.

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