International Cannabis Weekly: 180

THE GOVERNOR OF NEW YORK PLANS TO LEGALISE ADULT-USE CANNABIS

During the outline of his agenda for 2021, Andrew Cuomo has highlighted that the full legalisation of cannabis is one of his priorities for the year.

“We will legalise adult-use recreational cannabis, joining 15 other states who have already done so. This will raise revenue and will end the over criminalisation of this product that has left so many communities of colour over-policed and over incarcerated.”

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HIGHLIGHTS

• MEXICO PUBLISHES MEDICAL CANNABIS REGULATION
• FRENCH NATIONAL ASSEMBLY CALLS FOR OPINION ON ADULT-USE CANNABIS

• Amsterdam may ban tourists from accessing recreational cannabis.
• The UK’s drug laws are not fit for purpose according to former drug committee member.
• German group Cannamedical imports cannabis from Australian producers.
• GW Pharma announces total revenue for 2020 of more than US$500m.
• Calls made in UK for trial of cannabis to help with harm-reduction in prisons.
• Jersey company Northern Leaf awarded cannabis cultivation license.
• Calls made in UK for trial of cannabis to help with harm-reduction in prisons.
• Aphria Germany to deliver first domestic harvest in H1 2021.
• PS Group and Cannamedical Pharma merge to form Semdor Pharma Group.

2021 TRENDS: AN OPPORTUNITY IN BREXIT?

Despite reaching a trade agreement with the EU, the impact of Brexit is still expected to be damaging for UK businesses and the economy.

However, due to the fact that the UK is now able to dictate its own cannabis regulations, the government may push reforms in order to drive economic recovery amid the COVID-19 pandemic.

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• Subversive and JAY-Z close the largest cannabis SPAC in history
• Molson Coors launches CBD-infused beverage brand Veryvell in the US.
• Colorado cannabis sales passed the US$2 billion milestone in 2020.
• FDA open to using real-world data to better understand CBD.
• Nextleaf Solutions unveils patent for producing isolates without a solvent.
• California could establish new cannabis control department by July 2021.
• Curaleaf secures US$50 million revolving credit facility.
• UFC reduces restrictions on cannabis use by athletes.

MEXICO SET TO BECOME A KEY PLAYER IN THE GLOBAL CANNABIS MARKET

Following the news that medical cannabis has been legalised in Mexico this week, Prohibition Partners’ industry analysts are predicting that the country will become one of the biggest players in the global cannabis market.

To understand where the biggest opportunities are set to arise and which businesses are already operating within the cannabis sector in the country, download; The Latin American and Caribbean Cannabis Report, here.

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• WeedMD expands its Color Cannabis brand into the province of Quebec.
• Half of cannabis users have increased consumption due to COVID-19.
• Aphria announces record-breaking quarter of cannabis sales.
• Canadian firm Canopy Growth to enter US market within a year.
• Canopy Growth will increase share in TerrAscend pending US legalisation.

• Deputies in Costa Rica call for hemp and medical cannabis schemes.
• Colombian group Clever Leaves signs US$11.4 million deal with Entourage Phytolab.
• Jamaican sprinter promotes the use of medical cannabis for sports injury.
• Buenos Aires sees first experimental cannabis grow-project proposed.

• Thai government launches website to support cannabis businesses.
• Helius Therapeutics raises US$15 million and introduces new CEO.
• Nepali MP promotes the Cannabis Cultivation (Management) Act.
• Thai hospital opens the first cannabis eatery in the country.
• Indian company HempStreet launches products targeted at chronic pain.
• Chinese market for CBD beauty products set for growth.

• The battle for cannabis legalisation in Nigeria intensifies.
• Israeli cannabis industry is examined in a new financial review.
• Ugandan-Israeli cannabis firms still navigating local regulations.
• S.A. group Pharma Dynamics sells cannabis sourced from Creso Pharma.