International Cannabis Weekly: 227

SAFE BANKING ACT OMITTED FROM THE NATIONAL DEFENCE AUTHORISATION ACT

The most recent version of the congressional defence bill has had the cannabis banking reform excluded after negotiations between the House and Senate. Back in September, the SAFE Banking Act was passed by the House in its initial version within the National Defence Authorisation Act (NDAA) with language to protect banks that work with state-legal cannabis businesses. In this most recent iteration, those provisions were not included.

The bill will now go through both chambers again before potentially being sent to the president’s desk.

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MEXICO’S FIRST AUTHORISATION TO PRODUCE CANNABIS ISSUED TO CANADIAN COMPANY XEBRA

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SAN FRANCISCO SUSPENDS TAXES ON CANNABIS UNTIL THE END OF 2022 TO COMBAT ILLICIT MARKET

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• Former president of France François Hollande has come out in support of legalising adult-use cannabis.
• Cannabis is being used on cancer patients in the new International Cancer and Chronic Pain Institute.
• UK Medical Cannabis Access Bill, which would allow general practitioners rights to prescribe, is again before parliament.
• German associations call on the coalition government to establish a hemp carbon-capturing programme.
• The UK’s industrial hemp industry stifled by repressive legislation despite it being one of the largest hemp extract markets.
• Cellular Goods has appointed a new CEO after reporting no revenue and losses of £3.3 million.
• The deputy prime minister Nick Clegg calls for UK to join the global movement to legalise and regulate cannabis.
• German cannabis companies prepare for the adult-use market with intention of offering medical grade cannabis.
• Jersey considers medical cannabis documentation, to deter patients from selling their medication to others.
• Cannabis companies listing on the LSE experience almost £200 million in losses against earlier trading rates this year.

CANNABIS EUROPA LONDON 2022: CALL FOR SPONSORS

Cannabis Europa sponsorship offers brands exposure to some of the most influential stakeholders in the international cannabis industry. Our previous events have been supported by some of the industry’s most well-known brands, including: MGC Pharmaceuticals, Aurora, DLA Piper and Curaleaf.

Sponsorship applications for Cannabis Europa are now OPEN, with a number of different sponsorship packages available that we can discuss with you.

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• The DEA and HSS disregard processual requirements causing halt in federal cannabis legalisation.
• Poll finds South Dakota voters disapprove of the handling of medical cannabis legislation by the governor.
• US Department of VA finds PTSD patients using cannabis experience fewer hyper-arousal symptoms.
• Illinois’ adult-use cannabis sales hit over US$120 million in November, up 61% from the same period in 2021.
• Two new cannabis bills could standardise cannabis products and expunge cannabis-based criminal records.
• Ohio Republicans file bill to allow residents aged over 21 possession of up to 50 grams of cannabis.
• Ayr Wellness has received approval to begin operations in an 86,000 sq. ft Arizona cultivation and production facility.
• Colorado’s Schwazze borrows US$95 million to fund expansion into New Mexico with EK&L and Greenleaf acquisitions.
• Chicago Atlantic has successfully raised US$100 million in NASDAQ IPO from first offering.

• MediPharm announces change to board of directors to transition into an operating cannabis manufacturing company.
• Pathway Health signs a third pharmacy agreement, providing cannabis education and medical cannabis products.
• IM Cannabis to launch its WAGNERS brand in Germany for the country’s medical cannabis market.
• The first indigenous-led cannabis study will research the effects of the cannabis market on indigenous communities.
• Humble + Fume Inc signs distribution and sales partnership agreement with PAX Labs for the Canadian market.
• A study on Canadian veterans finds 54% used cannabis more than once every day.

BOFC LIVE: UNDERSTANDING THE MEXICAN CANNABIS LANDSCAPE

BofC Live is a video and podcast production of Business of Cannabis and explores the companies, brands, people and trends driving the sector. In this episode of BofC Live, Business of Cannabis’s Jay Rosenthal talks to Jeannette VanderMare, Director for Goldcann, a Mexican-based cannabis company looking to build in the emerging Mexican market.

Next year, it’s anticipated that we could see the beginnings of the adult-use market in Mexico, making it the single largest market for adult-use cannabis by population with over 128 million inhabitants.

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• Mexico’s supreme court declares hemp prohibition unconstitutional, setting hemp crop THC limit at 1.0%.
• Uruguay presents a draft cannabis tourism bill that would allow pharmacies and clubs to operate cannabis sales.
• Almost 1,000 healthcare professionals from the public system receive cannabis training in Buenos Aires.
• Cannabis imports make up 37.5% of all São Paolo’s importation authorisations.

• New Zealanders to access medical cannabis in dried flower form after ANTG receives export approval.
• Study finds Cannabis Medicines Advisory Service is a useful cannabis resource for Australian healthcare professionals.
• The Japanese division of Kannaway records November as its best sales month in company history.
• Epsilon Healthcare has successfully raised AU$2.9 million from investors, with a view of positive earnings in 2022.

• New laws allow Israeli cannabis companies to export products that are currently illegal within the country.
• African medical cannabis company Labat Africa successfully lists on the German stock exchange.
• Israeli cannabis company Together Pharma sells 50 kg of its Ugandan medical cannabis product to Germany.
• South Africa’s hemp and cannabis industries may have potential to alleviate poverty and create over 25,000 jobs.