International Cannabis Weekly: 229

SECURE YOUR SEAT AT THE BUSINESS OF CANNABIS MIAMI CONFERENCE

From the Rockefeller Center to Miami Beach. Following on from the highly successful New York event in September, Business of Cannabis and Prohibition Partners are partnering once again, this time in Miami to discuss all things cannabis retail technology, design and data.

Secure your seat today and be part of a day-long program of exclusive launches, presentations, debates and networking opportunities, exploring the full potential of this booming sector. Streaming tickets are also available for free.

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EMERALD X ACQUIRES MJBIZ IN A DEAL THAT IS REPORTED TO BE WORTH OVER US$120 MILLION

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LONDON MAYOR SET TO KICK-START CANNABIS DECRIMINALISATION PILOT SCHEME

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• US giant Cookies is set to open its first European cannabis shops in London and Vienna in the first quarter of 2022.
• Established European cannabis businesses are likely to benefit from an influx of capital in 2022.
• Humboldt Seed Organization breaks away from Dinafem and starts up its new operation with head office in Austria.
• A new state initiative to make a national hemp centre in Italy has begun, with land being prepped for planting.
• Doctors in the Czech Republic move to e-prescriptions for medical cannabis, opening the market up to growers.
• Prosecutions for cannabis possession almost halved in Ireland last year, due to cautions being used instead of arrest.
• The French CBD industry responds quickly as the government is set to outlaw the sale of CBD flower.
• An independent panel concluded that legislation governing medical cannabis cultivation in Jersey isn’t robust enough.
• Cannabis start-ups in Germany are investing in infrastructure in preparation for legalisation of adult-use cannabis.
• North Macedonia receives the ‘largest ever recorded’ legal international cannabis delivery.

• Curaleaf has increased its US ​​retail footprint to 128 stores with the acquisition of Bloom Dispensaries.
• December marked a monthly record for cannabis sales in Illinois with over US$137.9 million in sales.
• CEO of Florida-based MSO Trulieve Kim Rivers believes the industry will grow with or without federal reform.
• Legal cannabis sales have started in Montana, allowing residents aged over 20 to purchase up to 28 grams of flower.
• Department of Agriculture approves New York’s hemp programme, causing 800 growers to reapply for their licence.
• Prices across the US for CBD biomass remained stable in December but have reduced by a third year-on-year.
• MariMed has reached an agreement to acquire Kind Therapeutics in a US$20 million deal.
• Patients in Louisiana will now be able to purchase cannabis flower instead of edibles or sublingual oils.
• North Dakota State University confirms that two European hemp varieties were top performers in research trials.
• The Greenrose Holding Company completed a US$57.6 million acquisition of Arizona-based True Harvest.
• Proposed changes to lab testing for medical cannabis in Connecticut leads to public comment period.
• Despite slowing, Oklahoma’s medical cannabis programme is still seeing good levels of new patient applications.

NEW DAILY CANNABIS NEWS SHOW LAUNCHED ON YOUTUBE

A new daily cannabis news programme was launched this week on YouTube by Business of Cannabis. Since 2017, Business of Cannabis has highlighted the companies, brands, people and trends driving the cannabis industry. Hosted by Jay Rosenthal, the Cannabis Daily Show hones in on some of the most significant stories in the global cannabis industry – every day at 10am Eastern.

The Cannabis Daily Show also has a companion newsletter delivered to 10,000 cannabis industry leaders every morning.

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• Health Canada releases key findings and new data from the 2021 Canadian Cannabis Survey.
• Canadian cannabis stocks continued to plummet in the last quarter of 2021, falling 13.5% in December alone.
• Aurora and 22nd Century Group have granted a biosynthesis IP to Cronos Group for research and development.
• Canopy Growth’s stock price has fell by 4% since October 2017 and is now trading at its lowest price since then.
• Aleafia Health closed a $19 million credit facility to enable growth of its adult-use and medical cannabis sales.

• MCA Chairman states the next step in the Antigua cannabis market is to establish dispensaries for consumers.
• The University of Quilmes has opened a cannabis lab with the aim of developing public policy and drug alternatives.
• Buzios has become the first city in Brazil to include medical cannabis in the Municipal list of Essential Medicines.
• Brazilian chambers must vote on the cultivation of medical cannabis in a busy administrative year for the executive.
• A drop in cannabis prices could present an opportunity for Paraguay to capitalise on cannabis cultivation.
• Insurance providers in Colombia are mandated to cover the costs of THC medical cannabis prescriptions.
• Leafy, a new high-end cannabis accessories store, has launched in Argentina.

GLOBAL ADULT-USE CANNABIS MARKET TO TOP US$70 BILLION BY 2026

The adult-use market in the United States is set to dominate the stage globally for the next five years. This is due to the large and affluent population living in the United States, with 22 states and territories having already legalised, and with more anticipated over the forecast period.

Prohibition Partners forecasts that several international adult-use markets will develop in the coming years including Mexico, which is expected to have fully legalised systems of distribution in the next one to two years. The majority of sales of adult-use cannabis in all jurisdictions will be primarily of flower and vaporiser products, based on the real-world data available in legalised US and Canadian markets. Download The Global Cannabis Report: Second Edition for more insights.

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• Medical cannabis company Rua Bioscience has named E3C as its first local cultivation partner.
• Patients in New Zealand can now access products at affordable prices after industry regulations were finalised.
• The first Polynesian Hemp Syndicate was made official by the High Commission on 24 December 2021.
• MPX International Corp. has pledged to open a C$22 million cannabis facility in Chiang Mai, Thailand.
• A Western Australian pharmacy has been fined AU$40,000 for advertising medical cannabis through Facebook.
• Federal Minister in Pakistan states that the first crop of fibre hemp planted by the state has been completed.
• The Department of Thai Traditional and Alternative Medicine plans to have local cannabis strains as a national heritage.

• UAE’s drug laws are changing to limit criminal action against people carrying products with cannabis extracts.
• A major study is to be carried out in South Africa to see if cannabis can be a opioid replacement for managing pain.
• Aurora Cannabis has delivered $10 million of medical cannabis to Israel, the largest shipment into the country ever.