International Cannabis Weekly: 200

CZECH PARLIAMENT ADVANCES BILL TO LIBERALISE MEDICAL CANNABIS

On Wednesday the 2nd of June, the lower house of the Czech Parliament approved a set of amendments to the country’s laws governing the production and prescription of medical cannabis and hemp. The bill makes possible the production of medical cannabis by private groups, the marketing of cannabis isolates and oils, and the production of hemp goods with up to 1% THC.

The Czech Republic is a pioneering country in the regulation of substances such as cannabis, particularly in terms of harm reduction and patient access. Access to legally-prescribed products started to gain traction in 2018 and has grown exponentially since then. The growth seen over recent years has continued up to the present day. In the first four months of 2021, over 2,419 patients have been prescribed 31.6 kilograms of medical cannabis, more than twice the amount for the same period in 2020.

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UK MPS BACK THE CALL TO REVIEW THE MISUSE OF DRUGS ACT

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CANOPY GROWTH REPORTS STOCK LOSSES OF C$700 MILLION

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• Survey finds over 80% of Germans support cannabis use for medical purposes.
• Polish company Kombinat Konopny reaches crowdfunding goals with €1.2 million raised.
• Ukraine Parliament introduces a medical cannabis bill for greater access for patients and scientific research.
• San Marino signs Italian Health Ministry’s Action Plan agreement to start medical cannabis production.
• Berlin state investment bank sees cannabis industry potential, investing in local hemp extract start-up Becanex.
• Hempro wins legal battle to overturn Düsseldorf’s CBD ban.
• Kanabo Group agreement with Hellenic Dynamics sees shares rise.

THE MEDICAL CANNABIS CONUNDRUM IN EUROPE

Amidst a steady rise in demand across Europe, what are the opportunities and challenges for producers, suppliers and distributors alike? Exports across the continent are at an all-time high, with some North American companies already making moves to get into the market early. With increasingly progressive legislation on the horizon, the European landscape could soon be very different.

At Prohibition Partners LIVE, host Alfredo Pascual was joined by Tjalling Erkelens, CEO of Bedrocan, and Alex Agius Saliba MEP (Malta), for an expert view and debate on supply of, and demand for, medical cannabis in Europe.

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• Limited medical cannabis programme set for expansion as Tennessee governor signs bill.
• Green Thumb closes on acquisition which will grow company’s cannabis production capacity.
• New Mexico approves plans to establish a US$300 million cannabis facility intended for medical research.
• Ultra Health invests US$20 million in New Mexico facilities ahead of Adult-Use Cannabis Programme implementation.
• Lawmakers advance cannabis social lounges bills in California and Nevada.
• Harborside to drastically increase Californian presence with US$43.8 million acquisition.
• Washington State University becomes US cannabis research leaders after opening their cannabis research facility.
• Arizona’s dispensaries record US$120 million in sales though true numbers are lower.
• Massachusetts Cannabis Control Commission allows applications for Marijuana Delivery Operator licences.

LET’S PUSH THINGS FORWARD AT CANNABIS EUROPA LONDON THIS NOVEMBER

Arguably the cannabis market showing the most potential continues its path to maturity, Europe is evolving as a key driver of change and is poised to realise its potential as a global leader. Under the theme, ‘European Cannabis: Let’s Push Things Forward’, Cannabis Europa will return as a live event in London on 10-11 November.

The two-day conference will explore cannabis’ coming of age on the continent and will shape the agenda for taking cannabis in Europe to the next level.

SECURE EARLY BIRD TICKETS

• High Tide becomes first major publicly traded cannabis retailer listed on NASDAQ.
• Valens secures US$46 million financing with plans to fuel future acquisitions.
• Quebec’s cannabis corporation announces interim CEO as search for permanent appointment continues.
• RIV Capital agrees US$4 million sale of New Brunswick property with Canopy Growth subsidiary.
• Heritage Cannabis merger provides immediate market footprint in six US states.
• HEXO Corp. closes acquisition deal with Zenabis Global.
• Canopy Growth ends its agreement with Canadian rapper Drake after just over one year of partnership.
• Yooma to significantly accelerate growth with access to London market.
• WeedMD signs LOI to create consumer focussed product portfolio with the acquisition of CannTX.

AMAZON SUPPORTS FEDERAL CANNABIS LEGISLATION WITH PLANS TO STOP TESTING FOR CANNABIS ON SOME STAFF

E-commerce giant Amazon has come out in support of proposed US legislation to legalise cannabis at the federal level. Amazon will also no longer screen its job applicants for cannabis use for any positions not regulated by the Department of Transportation.

The company’s public policy team will be actively supporting The Marijuana Opportunity Reinvestment and Expungement Act of 2021 (MORE Act), which seeks to legalise cannabis at the federal level.

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• MCCN signs an agreement for their Colombian based cultivation and extraction facility.
• Legalisation of medical cannabis cultivation in Brazil facing opposition ahead of imminent vote.
• The Anti-Drug Secretariat of Paraguay arrests the director of Granja Madre, a cannabis activism and support group.
• Argentina introduces regulatory frameworks for the development of the cannabis industry.
• Colombia aims to expand access to medical cannabis providing one free day of consultations.
• State signs agreement with local company to further Argentina’s medical cannabis exploration.
• Bahamas’ Rastafarian community urging government to make proposed cannabis legislation more inclusive.

• Japan’s plans to implement harsher cannabis laws challenged by advocacy groups.
• Launch of Thailand’s first cannabis wellness experience signals softening anti-drugs stance.
• Kiaro enters US and Ontario as well as Australia through Cozy Cannabis acquisition.
• Cannabis legalisation bills likely to be indefinitely postponed in the Philippines.
• Agentix Corp. secures patents for CBD-based diabetes treatments after signing licensing deal.
• MPX International appoints new Thai board and advisory members, furthering their stake in the global cannabis market.
• Medical cannabis company Cann Pharmaceutical lodges plans for AUD$7.7 million cannabis facility.

• BOL sees a major increase in profitability after replacing 75% of its management team.
• Zimbabwe looks to jump-start the cannabis industry with new guarantees and incentives for investors.
• Morocco to legalise cannabis agriculture with a focus on providing economic relief and to diffuse local tensions.
• The President of Malawi looks towards cannabis after seeing continued losses with tobacco sales.