International Cannabis Weekly: 209

PROHIBITION PARTNERS ACQUIRES BUSINESS OF CANNABIS

Prohibition Partners announced its 100% acquisition of Business of Cannabis on Wednesday to form the industry’s new leader in media and data, as well as the largest B2B audience in cannabis.

Prohibition Partners is renowned for its leadership in emerging markets – including Europe, Asia and LATAM – and following this acquisition, now offers the only true global solution for the cannabis industry while also boasting its largest B2B global audience.

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LYPHE GROUP SETS ITS SIGHTS ON POLAND AND GERMANY AFTER ITS EXPANSION INTO SWITZERLAND

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TOKYO 2020 OLYMPIC GAMES: HOW CANNABIS HAS CHANGED THE GAMES

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• Trial on cannabis oral sprays to investigate effects on life expectancy in those with glioblastoma brain tumours.
• Jazz Pharmaceuticals reports a sales growth of 32% to US$156 million in its second quarter.
• Czech hemp organisation pushes back against proposed amendments to THC allowances in hemp.
• Twenty trade groups join forces in an international body to provide a united voice for the cannabis industry.
• Canopy Growth’s Storz & Bickel to provide vaporisers to French medical cannabis patients for flower experiment.
• Italian study aims to evaluate how the environment may affect cannabinoid quantities in cannabis varieties.
• British American Tobacco continues to make moves in the cannabis industry following its third investment in cannabis.

CANNABIS EXTRACTS MARKET IN EUROPE SET TO BE WORTH €1.5 BILLION BY 2024

Many emerging markets in Europe are expected to see an exponential increase in sales for extract-based products with sales expected to reach €1.5 billion by 2024.

The reasons behind the transition towards extract-based products in medicinal cannabis are obvious; they are simply more ‘pharmaceutical’ than flower, and more countries in the region are legalising its use. Download The Cannabis Extraction Report for free to find out more.

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• The US House of Representatives approves multiple cannabis provisions in its upcoming spending bill.
• Illinois awards 55 cannabis business licences, which have yet to be distributed due to a lawsuit challenging the process.
• Former NBA player Allen Iverson enters into a multi-year partnership with Viola Brands.
• Amazon registers to become an official lobbyist for the legalisation of cannabis in the United States.
• Truth Enterprise raises US$11.5 million in seed funding, US$1 million more than its original funding target.
• Arkansas activists begin collecting signatures for adult-use cannabis in preparation of 2022 ballots.
• Ohio lawmakers formally introduce a bill to legalise cannabis possession, cultivation for personal use, and sales.
• Halo Collective Inc. acquires William’s Wonder Farms, increasing its outdoor cultivation acreage to 11 acres in Oregon.
• Ziese Farms announces partnership with the Rodale Institute, providing hemp and cannabis patents for research.
• Federal drug agency allows grant funding for state health providers that prescribe cannabis to mental health patients.
• The state of Louisiana decriminalises cannabis, with possession of 14 grams now receiving a US$100 fine.
• Cannabis sales in Connecticut are projected to collect US$73 million in taxes in 2021.

• Former Supreme Cannabis Company CEO Beena Goldenberg is appointed CEO of Organigram.
• Rubicon receives a research licence from Health Canada, allowing it to trial and review its products on test subjects.
• Cannabista awarded standard processing licence, increasing the company’s cultivation prospects.
• Micellae Delivery Systems Inc. releases drug delivery technology that enhances cannabinoid potency and bioavailability.
• High Tide opens cannabis dispensary in Ontario, becoming the company’s 89th retail store across Canada.
• Mernova Medicinal introduces new potent cannabis strains with 20–30% THC from a Health Canada licensed producer.
• Canada’s cannabis industry experiences oversupply after years of growth and limited demand.

STEPHEN MURPHY TO TALK ABOUT EUROPEAN CANNABIS MARKET AT ICBC BERLIN

Prohibition Partners Co-founder and CEO Stephen Murphy will join a panel of experts at the International Cannabis Business Conference in Berlin on 27 August, to debate which emerging cannabis markets in Europe have the most potential to prosper.

Learn from the experts at the conference about what is going on in countries like Poland, Greece and other emerging markets that are on the brink of cannabis reform.

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• Avicanna makes first legal shipment of psychoactive product in Latin America with shipment of THC oil to Peru.
• PharmaCielo signs a sales agreement with a fully licensed Brazilian pharmaceutical player.
• ANVISA to hold a virtual seminar addressing the authorisation of cannabis products in Brazil.
• Argentinian Ministry of Health makes its first delivery of cannabis products to patients with Dravet syndrome.
• Uruguay’s Ministry of Public Health will no longer require companies to register to export cannabis under new decree.
• Allied Corp. completes its first export of Colombian-grown cannabis to Colorado.
• La Entrerriana to be the first accredited agricultural cannabis cooperative in Argentina producing medicinal cannabis.
• President of Uruguay signs decree promoting the development of the cannabis industry.
• New prime minister of St Lucia confirms he is committed to developing the medical and adult-use cannabis industry.
• A Colombian clinic reports it has treated over 9,000 patients, showing a growing patient base in the country.
• Costa Rica edges closer to cannabis legalisation with new law legalising cannabis production and transport.

• Australian Research Council awards Adelaide University A$500,000 to develop high protein and oil hemp seeds.
• Helius Therapeutics is first New Zealand company to receive cannabis manufacturing licence.
• Medibis raises A$620,000 in its crowdfunding campaign for its 80-to-100-ton per year cannabis growing facility.
• Amara Asia signs an agreement granting use of Herbolea extraction technology in its Thai cannabis extraction facility.

• BioHarvest announces C$4 million placement to develop its cannabis production in Israel.
• Israeli court rules founders’ shares in Teva Adir will pass to controlling shareholders following a dispute.
• Canada’s Mother Labs completes the first shipment of high-THC cannabis seeds to South Africa.
• Morocco legalises cannabis for medical and industrial purposes.
• Cannabis company Akanda engages financial advisors Boustead Securities to aid in Halo Collective Inc. acquisition.
• Zimbabwe Development Agency issues 55 licences to local and international companies to boost cannabis industry.
• Israeli government agrees to remove blockages on the exportation of cannabis after consideration of economic benefits.