Tilray Signs Landmark European Shipment Deal

Noted marijuana producer Tilray (NASDAQ: TLRY) reported some news of note. On Wednesday, the company announced that it has signed a deal to ship marijuana from its growth and shipment facility in Portugal. The deal, signed with privately held German medical cannabis importer Cannamedical Pharma, is for $3.3 million worth of medical product. This will be transported from the facility to Germany.

Tilray said that it expects to complete this shipment in the fall.

In the press release trumpeting the arrangement, Tilray pointed out that it is the first such contract it's signed to ship product from the Portugal facility to Germany. The latter country is considered a key European market due to its size and its booming market for medical cannabis (recreational use is not permitted -- at least not yet).

Source Fool.com