Gelbart Legal gives legal advise to Cannabis Technology Labs Ltd. on acquisition of shares in Chilion (Germany) GmbH
Cannabis Technology Labs Ltd. (Cantek Labs) is a company based in Israel that specializes in the trade of medical cannabis. Cantek Labs now wants to enter the German and thus at the same time the European market and for this purpose has acquired the majority of the shares in Chilion (Deutschland) GmbH, which has already been participating in the market since 2019 on the basis of the concessions that are necessary for that purpose.
The seller was Chilion Group Inc., a company operating in Canada, which also specializes in the trade of medical cannabis, and transferred all of its shares to Cantek Labs. On the part of the seller, the transaction took place without legal assistance.
In Germany, cannabis has been a marketable and prescribable drug since 2011. Since March 2017, the cultivation of cannabis for medical purposes has been made possible under state supervision (Federal Institute for Drugs and Medical Devices); besides that, the demand for medical cannabis is covered by import trade.
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