Specialist cannabinoid pharmaceutical company RAMM Pharma Corp. has acquired 49% of Canapar Corp. one of Europe’s largest cannabis operations.
The Canapar Shares were acquired from Canopy Rivers Corporation, a wholly owned subsidiary of Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF).
Canapar’s state of the art extraction plant is the largest in Europe and has been custom designed for the production of active compounds to be used in high-quality pharmaceutical, wellness and cosmetic products from its 1,000-hectare Italian-based organic hemp production and processing platform.
The strategic investment is expected to immediately enhance RAMM and Canapar’s ability to capitalize on the rapidly expanding European and global cannabis markets, provide additional opportunities to expand RAMM’s distribution footprint for its portfolio of internationally registered and approved pharmaceutical and other cannabis-based products and further leverage Canapar’s significant investment in its extensive vertically integrated operation and industry expertise.
When fully operational, Canapar is expected to be one of the largest vertically integrated Cannabis companies in Europe.
“Canapar is positioned to be a leader in the European Cannabis market and this strategic investment provides RAMM with a significant presence in Europe creating a prominent and differentiated global platform,” stated Jack Burnett, Chief Executive Officer of RAMM.
RAMM is a leader in the field of cannabinoid pharmacology and product formulation for cannabis-based pharmaceuticals and other cannabis-based products. The Company is a well-established pharmaceutical and medical product business that has developed medically registered and approved plant-derived cannabinoid pharmaceutical products.
Canapar with its wholly owned subsidiaries in Europe is an Italy-based manufacturer and processor of CBD oil and isolates. The company has secured more than 1,000 hectares of hemp through its outsource farming model and entered into an academic partnership with the University of Catania’s Department of Agriculture.
Canapar is also advancing its CBD extraction and processing capabilities through its new facility and is expecting to transform 600 metric tons of hemp biomass annually into CBD isolates and derivative products for distribution in Europe following the commissioning of its extraction machinery.
With demand for products that contain natural active ingredients derived from plant extracts increasing significantly, Canapar plans on developing CBD-infused cosmetics, skincare, and beauty products for the Italian cosmetics market, which is the fourth largest such market in Europe, as well as the global market, which provides strong demand for “Made in Italy” brands.
“We welcome RAMM as a strategic investor in Canapar and are very optimistic about the opportunities to cross-leverage our respective expertise, product portfolios and established presence in an expansive number of international markets”, stated Sergio Martines, Chief Executive Officer of Canapar.
Europe represents one of the largest potential cannabis markets globally. The Europe cannabis market is currently valued at US$3.5 billion and expected to reach US$37 billion by 2027 with an anticipated CAGR of 29.6% from 2020 to 2027 (ResearchAndMarkets.com, 2020). European countries are experiencing a transformation in the regulations for marketing cannabis and related products, facilitating easier cultivation, processing, and trade of the cannabis-derived products across this region.