Qanali is setting out to capitalize on the European cannabis opportunity. We have selected Portugal as our market to deploy infrastructure and scale into markets across the European Union. We have brought together world class growers, Doctors and industry experts to achieve efficient low-cost production and capture market share. During 2019, Qanali accomplished the license for grow, import and export medical cannabis. In parallel, facilities for indoor growing were developed and are operational with a capacity to produce 300kg monthly of EU GMP cannabis flowers and industrial hemp. While major value creation has taken place across North America with the emergence of leading Canadian Licensed Producers and U.S. Multi-State Operators, we see Europe as being the next major growth engine of the global cannabis opportunity. With more than double the population of North America, Europe has the potential to be a leading global market for both medical and recreational cannabis. We have assembled a world class team of individuals leveraging medical development relations, political relations, laboratory testing and distribution to facilitate scale across the existing European medical cannabis market.
