International Cannabis Weekly: 228
AVAILABLE NOW – THE GLOBAL CANNABIS REPORT: SECOND EDITION
2021 has been an historic year for the cannabis industry, with positive development in legalisation, record-breaking sales of medical and adult-use cannabis, as well as a massive influx of capital raises and M&A activity.
Released this week, The Global Cannabis Report: Second Edition from Prohibition Partners highlights how combined global sales of CBD, medical and adult-use cannabis topped US$37.4 billion in 2021, and could rise to US$102 billion by 2026. The report provides an overview of the development of international cannabis markets, and considers how they might develop in the near future. It also covers some of the most interesting and pertinent global trends in the industry.
Overall, the industry is poised for a very exciting 2022, with the spread of legalisation being followed by strong industry growth. The Global Cannabis Report: Second Edition is sponsored by Always Pure Organics, Cantourage, Linnea, White Lion Holdings, CBDepot.eu and Village Farms.
FOOD STANDARDS AGENCY TO PUBLISH LIST OF APPROVED CBD COMPANIES & PRODUCTS IN THE UK
MALTA LEGALISES SELF-CULTIVATION AND PERSONAL USE OF CANNABIS
- UK Government block cannabis bill that would allow GPs to prescribe medical cannabis through the NHS.
- Santé Publique France launches campaign to destigmatise cannabis use and educate the population on its effects.
- Cooperative Canapa del Sud says laws are stifling Italy’s hemp industry and locking them out of the economy.
- A Spanish cannabis guild is founded in order to unify the industry and promote cannabis regulation in the country.
- 4C LABS announces it will open cannabis clinics in Guernsey after securing cultivation and specialist clinic licences.
- German cannabis companies see a rise in stock prices as the country prepares for adult-use cannabis legalisation.
- Dutch coffeeshops see revenue rise since the start of the pandemic, but a potential ban on tourist sales could overturn this.
- Dermapharm acquires dronabinol manufacturer C³, expanding further into the European medical cannabis space.
US CANNABIS COMPANIES BEGIN INVESTING IN EUROPE
US cannabis companies are now taking tentative steps into Europe. This year has witnessed some significant moves, with major US player Curaleaf leading the way and others such as GenCanna and Texas entrepreneur Lorne Abony embracing opportunities in the UK.
Total deal values have reached well above the US$600 million mark, with the spike in activity seemingly a sign of things to come. Curaleaf International’s Chief Executive Antonio Costanzo said the EMMAC deal was an important moment for both companies, setting ‘the foundation for expansion of the group beyond the US in Europe’, with two things standing out – Europe’s instinctive default to regulating markets and its pace of progress.
- Rhode Island begins preparations for its adult-use cannabis market after officials confirm legalisation is set for early 2022.
- Hexo outlines a strategic plan to curb losses and build up in 2022 after C$117 million loss in its first quarter.
- New Hampshire introduces bills to legalise adult-use cannabis, though they are expected to be voted down in the senate.
- Innovative Industrial acquires cannabis dispensary and facility leases for US$7.7 million of rentable sq. ft.
- Curaleaf borrows US$425 million in order to refinance existing debt at a low interest rate.
- Glass House Brands secures US$100 million to fund retrofit of 5.5 million sq. ft SoCal cultivation facility.
- Former Massachusetts state cannabis regulator publishes paper on achieving social equity in the cannabis industry.
- Cresco Labs announces successful acquisition of Pennsylvania cannabis operator Laurel Harvest for US$80 million.
- CTC becomes the designated trainer of Canada’s national association of licensed cannabis producers and processors.
- The Valens Company announces its successful listing on the NASDAQ, advancing global growth initiatives.
- Aurora announces non-exclusive agreement to license biosynthesis intellectual property to Cronos Group.
- Indiva signs a manufacturing agreement with US cannabis brand Grön to bring its edibles to the Canadian market.
- Health Canada approves dried cannabis sales licence for Radient, authorising medical and retail sales.
- Fire & Flower has secured a C$30 million loan from Alimentation Couche-Tard.
THANK YOU TO ALL OUR 2021 SPONSORS
In what has been an eventful year for the cannabis industry and business globally, 43 forward-thinking companies have sponsored Prohibition Partners’ various reports and events this year. We’d like to say a massive ‘thank you’ to each and every one of them for their contribution to shaping the future of the global cannabis industry. They are:
Always Pure Organics • SOMAÍ Pharmaceuticals • Cantourage • Linnea • Boveda • HanETF • DLA Piper • CiiTECH • Adrex Pharma • Fluence by OSRAM • Kanabo • OneGlobal • MGC Pharmaceuticals • Citrine Global • OneGlobal • Elite Growth • 2WR Partners • WeedMD • Perfect Plants • AYR Strategies • Medipharm Labs • Cann Group • Shimadzu • Memery Crystal • Pharmahemp • AMP • Grow Tec • HillTop Leaf • Grass & Co • GCAC • Releaf Group • Tenacious Labs • CanX CBD • PurePressure • Eurox Group • Vitalis • Micallae • CanXChange • Pure Functionals • White Lion Holdings • CBDepot • Symtomax • Village Farms
LATAM & CARIBBEAN
- Apollon Formularies plans to lead production in the region with its Jamaican facility producing 20kg of oil per day.
- Bill regulating supply of CBD-based medicine by the SUS in Brazil is vetoed after reaching the governor’s table.
- YVY Sciences becomes first Uruguayan company to receive a cannabis cultivation licence to produce THC and CBD.
- Elea Laboratory promises accessible pricing for its Argentinian-made Kanbis product, to treat severe forms of epilepsy.
- Colombian cannabis associations join together to warn against cannabis bill 640 that risks complicating legal processes.
- Brazil’s Anvisa continues to broaden its accepted cannabis-based medicines list, with nine products already approved.
- Breedco Biopharma’s cannabis flowers and seeds to be available in Europe, and the North and South American markets.
- A draft bill to come before the Thai cabinet will clarify the application processes for medical and research cannabis licences.
- Cann Global shareholders displeased over commercial relationships with entities related to founder and former chairman.
- Thailand to legalise self-cultivation of cannabis with less than 0.2% THC, having removed it from the Narcotics code.
- The UK’s Dragonfly looks to invest in Australia, citing its longer growing season for the move.
- Australian chicken farmers put their property on the market after receiving a cannabis cultivation licence.
- Fiji’s president looks to industrial hemp for economic recovery after a decline in tourism due to Covid-19.
AFRICA & MIDDLE EAST
- Israeli patients must find new doctors over legislation preventing doctors in hospitals from giving out licences in private clinics.
- Labat Africa obtains US investment of R300 million after successfully listing on the Frankfurt Stock Exchange.
- A change to laws surrounding cultivation techniques will allow Israeli companies to label their cannabis products organic.
- Kanabo announces its CBD and nicotine inhalable product will soon have a patent accepted in the US, the UK and the EU.
On the global cannabis industry
International Cannabis Weekly newsletter brings you the most important developments, news and informed commentary on the global cannabis industry. Join our community of 70,000+ subscribers.