CannTrust Holdings Inc. (TSX: TRST), a cannabis public company located in Canada, announced this morning that it has entered into a Joint Venture Agreement with STENOCARE, a privately owned cannabis company located in Denmark.
CannTrust will receive a 25% equity stake in STENOCARE in return for the company’s cooperation in distributing CannTrust’s medical grade cannabis products to Denmark. The two companies plan to work towards developing a cannabis facility in Denmark, with expected construction to begin in the second quarter of 2018.
“CannTrust is very excited to partner with STENOCARE in the rapidly growing global market for medical cannabis. This is a key step in our strategy to expand our best in class products on a global platform. We look forward to building, together with STENOCARE, an industry leading facility in Denmark. By leveraging off our leading-edge perpetual harvest technology, STENOCARE will be able to deliver high-quality, standardized medical cannabis products for the Danish market” said Eric Paul, CEO of CannTrust.