International Cannabis Weekly: 206

ADULT-USE CANNABIS LEGALISATION IN EUROPE: THE FINAL COUNTDOWN

A few governments in Europe are taking the first tentative steps towards legislation that allows for adult cannabis use (at least on a trial basis). If the legalisation process continues as expected, various European countries, for example Portugal, Spain, the Netherlands, Luxembourg, Germany, Switzerland and Malta, could all introduce legal access to adult-use cannabis within the next few years.

‘The potential effects of the legalisation of adult-use cannabis in Europe are far-reaching and significant. From an economic, social, political and medical perspective, the opportunities created by legalisation could be transformational,’ says Barbara Pastori, international cannabis industry expert and Director of Data & Strategy at Prohibition Partners.

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SELF-CULTIVATION LEGISLATION IN ITALY TO BE PRESENTED BEFORE THE JUSTICE COMMISSION

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ARGENTINA SENATE APPROVES DRAFT REGULATORY FRAMEWORK FOR CANNABIS INDUSTRY

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• Dutch government clarifies requirements of coffeeshop owners for controlled cannabis supply-chain experiment.
• Ukrainian president convenes a parliamentary meeting with cannabis legalisation on the agenda.
• New recommendations by the Financial Conduct Authority could mean cannabis companies are locked out of the LSE.
• Berlin plans to bring cannabis legislation before the courts five years after it was first dismissed by regulators.
• French cannabis start-up Rainbow raises €2 million in its latest funding round in a bid to increase its market presence.
• Sanobiotec announces intention to pivot focus to burgeoning minor cannabinoids market.

SENATE LEADER CHUCK SCHUMER RELEASES DRAFT PROPOSAL FOR FEDERAL CANNABIS LEGALISATION

US Senate Majority Leader Chuck Schumer released a draft of the Cannabis Administration and Opportunity (CAO) Act on Wednesday, which, if passed, would federally legalise cannabis in the United States. According to polls from Gallup and Pew, more than 60% of those in the US support the legalisation of cannabis for medical and adult-use cannabis.

Prohibition Partners has analysed and provided a breakdown of the most important points from the CAO Act, sorted into several categories.

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• State regulatory agency makes moves to regulate Delta-8 THC as Michigan governor signs legislation.
• Politicians and the USADA call for changes in sport cannabis policy, in response to Sha’Carri Richardson’s ban.
• Georgia Access to Medical Cannabis Commission to award cannabis grow licences based on scoring system.
• Missouri dismisses measures allowing medical cannabis companies to deduct business expenses on state taxes.
• Idaho cannabis activists resubmit ballot initiative following a review from the state attorney general.

• Retailers in British Columbia can now legally deliver cannabis to their customers’ doors after recent rule change.
• Medipharm Labs receives a Drug Establishment Licence from Health Canada.
• High Tide adds six new cannabis stores to its Saskatchewan profile after a C$2.9 million cannabis company acquisition.
• Federal Health regulator has issued a recall for Atlas Growers’ pre-rolled cigarettes after yeast and mould are found.
• More than 500 tons of cannabis destroyed in Canada since 2018 due to low-quality product and a shortage of retail outlets.
• Cointreau files a lawsuit against Canopy Growth over its new CBD beverage, ‘Quatreau’.
• WeedMD, now Entourage Health Corp, and CannTx Life Sciences enter into an all-stock transaction acquisition deal.
• Aegis sells its Hemisphere Cannabis Co. to Kiaro Holdings Corp.

ICONIC VENUE & INFLUENTIAL SPEAKERS ANNOUNCED FOR NEW YORK CANNABIS SUMMIT

The iconic New York venue Rainbow Room will host 300+ of the most influential business, finance and political thought leaders for a day-long programme of knowledge-sharing and networking at Business of Cannabis: New York this September.

The first speakers to be confirmed and announced this week include New York State Senator Liz Krueger, who played a pivotal role in pushing for the historic legalisation of cannabis in New York in March 2021, and Pablo Zuanic, Managing Director of Cantor Fitzgerald.

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• Uruguayan minister to make changes to cannabis self-cultivation laws in order to undermine the illegal market.
• Argentinian university looks to build a cannabis and hemp laboratory for cannabis trials and research.
• Jamaican MPs accuse the Cannabis Licensing Authority of halting the progress of small-scale cannabis farmers.
• Khiron completes its first medical cannabis sales in Brazil.
• A scientific team in Corrientes work on developing a locally grown cannabis sativa strain for medical use.
• Fanazul begins cultivation and production of medical cannabis in a joint effort with National Institute of Agriculture.
• Draft regulatory framework for the cannabis and hemp industries has been approved by the Argentinian Senate.

• Australian companies drop medical cannabis prices, making it more affordable for patients.
• Australian scientific developments will greatly aid in the identification of cannabis strains for particular medical uses.
• Thai university to develop cannabis products for medical research into benefits on specific health issues.
• NimbinCann sets out to provide seed-to-shelf, prescription-free cannabis products.

• Zimbabwean farmers are swapping tobacco crops for hemp as hemp overtakes tobacco in market stability.
• Israeli cannabis bill that would expand access to medical cannabis is unlikely to be voted in.
• MedCan becomes the first company from South Africa to export medical cannabis flower to the UK.
• Aurora makes one of the largest single shipments of medical-grade cannabis to Israel, worth C$8 million.
• Kenyan education and research secretary prompts research into cannabis to understand commercial potential.