08:14 AM EDT, 07/22/2024 (MT Newswires) -- Tilray Brands ( TLRY ) said Monday that its Aphria RX GmbH cultivation facility in Germany has been granted the first new cannabis cultivation license under the country's new MedCanG cannabis law.

The cannabis products producer said the license is expected to enable Aphria RX to cultivate and manufacture a wide range of medical cannabis products in the country.

This follows Tilray's previous license from the German Federal Institute for Drugs and Medical Devices, which permitted the cultivation of all three approved medical cannabis strains in Germany, the company said. With the new license, Tilray can now expand its product range to 31 strains, it added.

Shares of Tilray were up 3.4% in recent premarket activity.

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