Cannabis and hemp company Canopy Growth Corporation (TSX:WEED) (NYSE:CGC) revealed on Tuesday the completion of the acquisition of the licensed cannabis company Cáñamo y Fibras Naturales, SL, based in the Province of Alicante in Spain.

This all cash acquisition allows Canopy Growth to expand its European production footprint into one of the most ideal growing regions in the world as well as complement its existing 430,000 square foot licensed production site in Odense, Denmark and its world-class ISO 13485 internationally certified Storz and Bickel facility in Germany.

With a focused team, Cafina has already established a small greenhouse for research-related medical cannabis production, focused on crop-related R&D and the sale of hemp seed, received its general and research licence from the Spanish Agency for Medicines and Health Products (AEMPS) and a hemp licence for the cultivation of cannabis sativa (