International Cannabis Weekly: 219
PROHIBITION HOLDINGS COMMENCES SERIES B FUNDING ROUND TO DEVELOP B2B MARKETPLACE
Stephen Murphy, Prohibition Holdings Co-founder & CEO, spoke with Business Insider about the Series B funding round and about filling a critical need for transparency and convenience in the cannabis supply chain – particularly in Europe.
The cannabis industry, Murphy says, can be ‘somewhat unsettling for investors & operators, but our new marketplace platform brings convenience to B2B trade’. With highly respected brands already in Prohibition’s portfolio, the Series B pitch deck provides an overview of future vision of the group, and is available exclusively at Business Insider.
NEVADA OFFICIALS REPORT US$1 BILLION IN ADULT-USE CANNABIS SALES OVER THE PAST YEAR
MALTESE EQUALITY MINISTER RELEASES DRAFT CANNABIS BILL TO LEGALISE ADULT-USE CANNABIS
- The number of hemp fields in Germany rise by 17% after an increase in farming operations in 2021.
- The Irish health ministry to challenge the European Court of Justice ruling that considers CBD as a food.
- High Tide enters the UK CBD market after its successful acquisition of Scottish online CBD retailer Blessed for £11 million.
- US firm Casa Verde enters Europe with €15 million investment in Portuguese cannabis company Acecann.
- UK’s Hemp-30 project receives £200,000 in government backing in order to boost hemp production 100-fold.
- German pharmaceutical association increases its services range to include cannabis for palliative care patients.
- The UK Food Standards Agency delays publication of the final list of CBD vendors, still with no date set.
- Canadian company to acquire 80% of Leli Holland, which is licensed to supply coffeeshops during Dutch experiment.
- Leaders of German police unions support cannabis prohibition, calling on politicians to put a stop to cannabis legalisation.
- Two US senators demand that Justice Department starts de-scheduling process to decriminalise cannabis federally.
- California passes new CBD regulations creating clearer guidelines for the sale of CBD in the state.
- Michigan records a 53% increase in cannabis sales, achieving more than US$161 million in sales in September.
- Justin Bieber joins celebrity bandwagon with Palms partnership deal, releasing a limited edition pre-rolled cannabis product.
- Dutchie completes its financing round with US$350 million, placing the company value at US$3.75 billion.
- Republican lawmakers in Ohio introduce a bill to regulate and legalise adult-use cannabis in the state.
- US musician launches pre-rolled cannabis products under wellness brand Little Steven’s Underground Apothecary.
- Cannabis company PharmaCann announces merger with Colorado-based cannabis cultivator LivWell.
- Oregon State University receives a US$10 million grant to explore the economic opportunities for hemp in western USA.
- Cannabis activists in South Dakota create a petition to place adult-use cannabis legalisation on the 2022 ballot.
- TILT partners with the Shinnecock Indian Nation to establish vertical operations for its company Little Beach Harvest.
DUTCH MEDICAL CANNABIS SALES CONTINUE DOWNWARD TREND IN 2021
The number of medical cannabis sales in the Netherlands declined in H1 of 2021, continuing a downward trend, which began in 2018 when insurance reimbursements were halted in the country.
The number of medical cannabis patients has also been declining since this time. However, increasing overall value of sales and quantities sold to pharmacies from 2019 to 2020 suggest that individual patients may be consuming more medical cannabis each year.
- Ontario to permanently allow delivery services for cannabis after trialling deliveries during the pandemic.
- Sundial Growers announces acquisition of retail liquor company Alcanna for US$346 million.
- High Tide receives approval to expand its Canna Cabana cannabis stores into British Columbia.
- Growth in the number of cannabis retail stores in Canada leads to 8% increase in consumers, research finds.
- Canadian cannabis companies find it difficult to access basic financial services from banks, three years after legalisation.
- Ayurcann Holdings enters into a patient-referral agreement with medical cannabis expert ReLeave.
- Valens records its third quarter financial results with a 16% increase in revenue to C$21 million.
LATAM & CARIBBEAN
- Panama prepares to legalise medical cannabis, though legislation on industrial hemp is yet to be outlined.
- Chilean activists organise national demonstration against the senate’s rejection of adult-use cannabis laws.
- Anvisa optimises its registration processes, helping patients get faster access to medical cannabis products.
- Dr Annabelle Morgan-Manalo joins Flora Growth’s board of directors as it shifts focus to cannabis research.
- San Juan in Argentina receives shipment of cannabis seeds from a US gene bank to develop cannabis medicine.
- Medical cannabis company Jacana continues expansion with the opening of a new store in Kingston’s business district.
ONEGLOBAL ANNOUNCED AS BRONZE SPONSOR OF CANNABIS EUROPA LONDON
UK-based insurance and reinsurance broker company Oneglobal has been announced as the Bronze Sponsor of the upcoming Cannabis Europa London conference on 10–11 November. Oneglobal reinvigorates the brokering world with its ambitious plans for the future, improving the way in which businesses around the world manage risk via insurance.
Investors, policy makers and influential cannabis-industry leaders will come together to help shape the future of cannabis in Europe at Cannabis Europa London.
- Nepalese Minister for Health supports a bill to legalise cultivation of up to six plants without a licence.
- Clinical drug company Emyria to join Palantir Technology’s foundry builders programme with access to data platforms.
- ECS Botanics reports a revenue increase of 123% for Q3 2021 with AU$900,000 in sales.
- Heritage Cannabis completes C$60,000 export of its CBD and CBDA filmstrips to two Australian companies.
- Ministers for parliament in Western Australia to examine medical cannabis laws, to allow easier access for patients.
- Medical cannabis company Greenfern Industries announces NZX listing for the end of October.
AFRICA & MIDDLE EAST
- Morocco to host its first international cannabis conference, focusing on the therapeutic uses of the plant.
- Eastern Cape government funds entrepreneurial project to educate people on cannabis cultivation.
- Medical cannabis bill introduced by the New Hope party passes first reading in Israel’s Knesset Plenum.
- South African cultivator is set to be the first cannabis company to list on the local stock exchange.
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