Medicinal cannabis giant Nuuvera acquires Malta pharma company

Canadian medicinal cannabis giant Nuuvera announced on Tuesday afternoon the acquisition of ASG Pharma in Malta.

Through the acquisition, the company said it would be setting up a hub for the production and distribution of oil-based medicinal cannabis products to the emerging European market.

The company’s CEO Lorne Abony was quoted as saying that Malta, and the European Union in general, clearly intended to make consumer protection a priority.

“This approach aligns perfectly with our vision to create a centre of excellence in Malta for the production and distribution of pharmaceutical grade cannabis products,” said Abony.  “To that end, ASG Pharma will adhere to the highest international standards for processing and extraction, distribution and security protocols." 

According to the statement, through its subsidiary, ARA Avanti RX Analytics, “Nuuvera is the only international medical cannabis company that has a standalone has a standalone Health Canada GMP approved facility that is authorized to conduct commercial scale activities with respect to cannabis and other cannabinoids”.

The company said that through its acquisition of ASG Pharma, Nuuvera would be bringing this expertise to Malta.

It said the acquisition of ASG Pharma was one of a series of deals intended to increase its global footprint in the medicinal cannabis industry.

Last month Nuuvera secured a €538 million deal to sell to medical cannabis company Aphria.

READ MORE: Cannabis giant Nuuvera plans Malta lab as relaxation of rules woos industry

Who is behind ASG Pharma Ltd

ASG is a pharmaceutical company set up in 2014 by four shareholders. Each of the shareholders own a 25% stake.

The directors are Paul Apap Bologna, who is involved in the Electrogas project through GEM Holdings, Hugh Arrigo and Robert Magri.

The company’s shareholders are Consolidated Packaging Ltd, belonging to various shareholders including the Gera family, CP Investments, belonging to Paul Apap Bologna and Christine Meli Bugeja, Evolve Ltd, a pharmaceutical supplier primarily owned by Attard & Co. and corporate services provider BCGL Services.