Materia Ventures is developing a medical cannabis ecosystem to capture and grow the medical cannabis market in the European Union. Our strategy is designed to be nimble and focused on building the leader in the European cannabis sector. Materia is on pace to be one of the first companies to have a functional certified EU GMP facility in Malta. We have received approval of our LOI from Malta Enterprises and have secured an existing facility which we are in the process of re-purposing for processing of biomass and first pass extract to fully EU GMP compliant finished products. A core part of Materia’s strategy is to remain cultivation agnostic and deploy capital to the highest ROIC opportunities. Not only does this improve our returns on capital, it also allows Materia to remain nimble and capture market opportunities as an increasing number of cultivation assets come on-line. Materia has signed a number of LOIs with global suppliers of biomass for our Maltese facility as well as finished products which we expect to sell through our distribution network. We have also entered into agreements with select white-label CBD contract manufacturers to produce both (a) branded products of Materia; as well as (b) our partners branded products – to sell into key European markets.
Materia was founded by a group of recognized leaders in the global cannabis industry including: Deepak Anand – CEO (Cannabis Compliance, Zenabis), Michael Garbuz – President (Origin House, Trichome Financial), Joel Sherlock – Director (founder of Vitalis) and Vijay Sappani – Director (founder of TerrAscend). The remainder of the management team have joined Materia from senior positions at well-established global companies (Brookfield, Pfizer), leading Canadian law firms (Goodmans LLP) and cannabis-based companies (Ample Organic, Lift & Co.)