Shares of Tilray Inc. TLRY,
rose 3.6% in pre-market trading on Tuesday after the Canada-based cannabis company said it had been selected by the French National Agency for Safety of Medicines and Health Products (ANSM) to provide medical cannabis products for experimentation. Tilray said he would provide medical cannabis, from the first quarter of 2021, for the duration of the French experiment, which is expected to last 18 to 24 months. The cannabis will be exported to France from Tilray’s plant in Portugal. “Today’s announcement is another milestone for Tilray as we expand operations in Europe,” said Brendan Kennedy, CEO of Tilray. “We are proud to offer access to a range of pharmaceutical grade medical cannabis products to the ANSM while supporting patients in need in France.” Tilray’s share has risen 193.3% over the past three months to Monday, while the ETFMG Alternative Harvest ETF MJ,
rose 68.5% and the S&P 500 SPX,
achieved 13.4%.
