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International Cannabis Weekly: 234

February 11, 2022

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HIGHLIGHTS

NORTH AMERICAN CANNABIS STOCKS FALL AS FEDERAL LEGALISATION PROGRESS HALTS

Cannabis consumption increased dramatically during the pandemic as did revenues for US-listed companies in 2019. Data provided to The Financial Times by Prohibition Partners also reveals the global sales of CBD, medical, and adult-use cannabis hit US$37 billion last year.

However, this jump in revenue has not translated to an increase in share prices, as the average cannabis stock is down a third since the start of 2021, and Canadian stocks down by 50% over the same period.

Speaking to the Financial Times, Prohibition Partners CEO, Stephen Murphy, said: “I don’t think people are doubting the sector, they are trying to back the right horse.”

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MEDICAL CANNABIS LEGALISATION TO BE DEBATED IN SPAIN NEXT WEEK

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US$1 BILLION GRANT EARMARKED FOR CLIMATE-FRIENDLY HEMP FARMING

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Europe
  • EU cannabis stocks are reviewed one year on from the first cannabis stock listings on LSE.
  • Owen Bonnici, the minister behind cannabis legalisation in Malta, urges other EU nations to follow suit.
  • The future of Portugal’s adult-use cannabis market remains unclear as the Socialist Party wins the General Election.
  • Nikos Thomaidis, a Greek professor, claims that cannabis use in Athens is among the highest in Europe.
  • Growth of cannabis-related companies in the UK is being stunted by banks’ refusal to work with them.
  • Kuipers says House of Representatives will be given the next steps of the Bureau for Medicinal Cannabis.
  • Holigen’s indoor cultivation facility in Portugal has yielded its first harvest of high-THC medical cannabis.

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SPONSORED

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USA

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CANADA
  • Canopy Growth’s Q3 revenue falls by 8% to C$141 million due to slow cannabis sales.
  • Tilray brings its medicinal division with Aphria under the ‘Tilray Medical’ name, with one strategy and vision.
  • Canadian company Bleuh will start selling its new low-THC cannabis products at adult-use retailers from this month.
  • EnWave announces it has been granted a patent for a new method of drying cannabis.
  • Reliva, a subsidiary of Aurora Cannabis, launches KG7, a new CBD product for adult consumers.
  • Kaleden-based Green Mountain Health Alliance has received its licence for medical cannabis cultivation and sales.

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LATAM & CARIBBEAN

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UPCOMING EVENT

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APAC

 

 

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AFRICA & MIDDLE EAST
  • The city of Yeruham hopes to create an international reputation as a tech powerhouse in medical cannabis.
  • For the first time in a decade, there’s been a drop in the number of medical cannabis patients in Israel.
  • InterCure reports a record fourth quarter revenue in 2021, which has tripled year on year.
  • Felbridge has successfully exported a batch of cannabis tissue culture to a licensed Israeli producer.
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