Canopy Growth Corp (TSE:WEED) (OTCMKTS:TWMJF) (FRA:11L1) European growth strategy rose to another level today.

The company signed definitive agreements to acquire Annabis Medical s.r.o, expanding the Company’s focus into another emerging medical cannabis market. Annabis Medical is the purported leader in the Czech Republic’s medical cannabis industry. They currently import and distribute cannabis products pursuant to federal Czech licenses, with products for sale through pharmacy channels across the Czech Republic. Its founder and CEO, Dr. Robin Kazík, will stay on and continue to operate the Czech subsidiary on Canopy’s behalf.

Ultimately, the acquisition will allow Canopy Growth to bring its formidable Spectrum Cannabis brand to another European market.

The acquisition of Annabis Medical—expected to close April 16—builds on the company’s leadership position in the European medical cannabis space. Previously, Canopy Growth inked a partnership and supply agreement with Spanish pharmaceutical leader Alcaliber S.A. Furthermore, Canopy Growth already operates in the German market through its subsidiary, Spektrum Cannabis GmbH, and has formed a partnership, Spectrum Cannabis Denmark ApS, which is licensed to cultivate cannabis in a 40,000 square meter greenhouse production facility located in Odense, Denmark. These assets—combined with Canopy Growth’s unparalleled Canadian production and sales platforms—represent the world’s largest and most diversified cannabis platform.

With their move into the Czech Republic, Canopy notches another jurisdictional win under their belt. By our count, the company now operates in at least 8 countries worldwide (including Canada); a number which is sure to increase as cannabis obtains legal status at an astounding rate. Given that president Trump promised a leading Senate Republican that he will support congressional efforts to protect states that have legalized marijuana, the United States may soon follow.

The full list of Canopy Growth controlled or jointly-controlled subsidiaries and affiliate investments operating internationally is as follows:

Legal entity Defined as % Ownership Country Of Operation Spektrum Cannabis GmbH Spektrum Cannabis 100 Germany Spectrum Chile SpA Spectrum Chile 85 Chile Grow House JA Limited Tweed JA 49 Jamaica Spectrum Cannabis Denmark Aps Spectrum Cannabis Denmark 62 Denmark Annabis Medical s.r.o Annabis Medical Czech Republic Affiliate Investments Legal entity Defined as % Ownership Country Of Operation Bedrocan Brasil S.A. Bedrocan Brasil 39.4 Brazil Entourage Phytolab S.A Entourage 38.5 Brazil AusCann Group Holdings Ltd. AusCann 11 Australia Vapium Incorporated Vapium 12.2 Online Retail

Under the terms of the Annabis Medical agreement, Canopy will issue Dr. Kazík 50,735 common shares in the capital of the Company valued at $1,491,882.70 on closing and, subject to meeting certain milestones, will issue up to an additional 34,758 common shares valued at $1,022,080.00, based on the 5-day VWAP of $29.40519 on April 5, 2018. The total value of the consideration payable under the terms of the agreement is approximately $2,513,962.70 CAD.

Previously, Canopy Growth CEO stopped by the Midas Letter studios to talk about the company international growth strategy.

Bruce Linton shed light on why Canopy Growth Corp is likely to continue on its astonishing growth trajectory as he strives for global domination through the deployment of an international cannabis industry strategy.

The acquisition of Annabis Medical makes clear that the international arms race between Canadian cannabis conglomerates is on. On April 13, Aurora Cannabis Inc (TSE:ACB) (OTCQB:ACBFF) (FRA:21P) upped the ante by announcing the successful delivery of the first ever batch of privately exported medical cannabis from Canada to the Italian government.

We certainly don’t expect this trend to abate anytime soon.