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ILLINOIS’ ADULT-USE CANNABIS SALES TO SURPASS A RECORD US$1 BILLION IN 2021
CZECH REPUBLIC TRIPLES THC LIMIT IN HEMP TO 1.0%, DESPITE LIMIT SET BY EUROPEAN PARLIAMENT
- Study finds one in three carers of children with autism started giving them CBD within the last 18 months.
- Sicilian health authorities expand medical cannabis qualifier list to allow more patients access to free cannabis.
- Portuguese politicians in favour of legalising adult-use cannabis and the self-cultivation of up to six cannabis plants.
- Malta authorises self-cultivation, and possession of up to 7g of cannabis, though smoking in public remains illegal.
- UK’s Cannabis Industry Council seeks to commission cannabis research to support legislative and administrative change.
- Cantourage enters into agreement with FarmaGrowers, to bring South African medical cannabis to German patients.
- Sanity group joins with scientists to develop pharmaceutical treatments targeting schizophrenia and anxiety.
- Study finds Spain ranks third highest for cannabis use among European countries.
- Discussions on social equity and access to the adult-use market of significance during Business of Cannabis: New York.
- US key House committee votes to approve the legalisation of adult-use cannabis at the federal level.
- New York’s CCB holds its first meeting to work towards implementing adult-use cannabis legislation.
- Justin Bieber joins celebrity bandwagon with Palms partnership deal, releasing a limited edition pre-rolled cannabis product.
- Philadelphia prepares for a November referendum that will decide whether to legalise adult-use cannabis state-wide.
- Cannabis software company Akerna announces debt refinancing with US$20 million in notes convertible at US$4.05.
- Curaleaf successfully closes acquisition deal of Colorado’s outdoor cannabis cultivator Los Sueños for US$67 million.
- Clever Leaves makes its first commercial export of its THC flower to US-based Biopharmaceutical Research Company.
KEY TAKEAWAYS FROM BUSINESS OF CANNABIS: NEW YORK
Business of Cannabis and Prohibition Partners held the first Business of Cannabis: New York event last week, to highlight not only the promise of New York as the largest emerging cannabis market, but also the position New York will hold as the global capital of cannabis finance, thought leadership, and innovation.
After a week of reflection, Business of Cannabis’ managing director and event host, Jay Rosenthal, has penned his three takeaways from the pivotal event.
- Cannabis company states tax legislation stifles small companies, demanding tax reform that would mimic the beer industry.
- Tilray’s CEO awarded US$13.2 million in cash bonuses this year after merger with cannabis company Aphria.
- Fire & Flower to open stores next to Circle K in Canada and internationally in Alimentation Couche-Tard partnership.
- Study reveals cannabinoid potency in illegal cannabis much less accurate than in regulated cannabis products.
- Aurora Cannabis reverts efforts back to medicinal cannabis after 45% drop in adult-use sales in 2021.
- Canadian cannabis companies invest millions in US in preparation for possible federal cannabis legalisation.
- Xebra Brands enters into an agreement with BevCanna, to bring its cannabis-infused drinks to the Canadian market.
- Sundial Growers to acquire private liquor retailer Alcanna for C$364 million in stock deal.
LATAM & CARIBBEAN
- Uruguay opens its first Cannabis Medicine Polyclinic to treat medical cannabis patients with qualifying illnesses.
- Mexican cannabis industry leaders advocate for cannabis legalisation to stop the drug violence and poverty cycle.
- Peruvian Futura Farms receives 150kg of CBD oil from Canadian Blueberries for sale to registered pharmacies.
- Pure Jamaican donates seeds to help revive neighbouring islands’ cannabis industries after a volcano destroys crop.
- Avicanna completes its first commercial shipment of feminised cannabis seeds to Peru and Argentina.
- MPX International invests US$10 million in EU-GMP certified cannabis production facility in Chiang Mai, Thailand.
- Heritage Cannabis completes medical cannabis product supply deals with two Australian cannabis companies.
- University of Sydney find cannabinoids with better anti-convulsive effects than CBD in rodent models with epilepsy.
- The Malaysian government states it will continue researching cannabis in order to better inform medical cannabis legislation.
- Australia’s restrictive CBD regulations are creating expensive products, leading to an increase in black market CBD.
- New Zealand prepares to release its first home-grown CBD products for patients, three years after legalisation.
- Monthly SAS-B approvals in Australia reach over 13,000 in September, with flower taking 40% of the market share.
- Over 1,000 join a New Zealand study researching cannabis use during pregnancy on the genes of children.
AFRICA & MIDDLE EAST
- Premier of Gauteng gets behind the South African cannabis industry, urging growers to build a sustainable industry.
- Kanabo signs €9 million deal with MedoCann with exclusive distribution rights into the German and UK markets.
- Israeli bill to regulate the cannabis industry to be voted on by the Ministerial Committee for Legislative Affairs.