International Cannabis Weekly: 236
BUSINESS OF CANNABIS RETURNS TO NEW YORK THIS SEPTEMBER FOR TWO-DAY EVENT
It’s crunch time for cannabis in New York. While the financial opportunities are evident, what is not clear are the finer details of the emerging adult-use cannabis market in the state, and how long the necessary infrastructure will take to develop.
This September 21 – 22, we will once again welcome business leaders, politicians and innovators to the heart of The Big Apple – to identify trends and challenges and share ideas on the future development of the cannabis industry, through a lens focused also on its most exciting new market: New York.
18 CANNABIS COMPANIES LICENSED BY INFARMED, WITH 80 MORE STILL TO REVIEW
MEDICAL CANNABIS CULTIVATION WILL BE LEGAL IN FRANCE FROM 1 MARCH
- The European Commission is set to vote on increasing the amount of THC in hemp foods within Europe.
- Italian politician Marco Cappato says that Italians want to legalise cannabis, despite referendum refusal.
- The European Commission informs five companies that their applications to sell CBD products are in the final stages.
- European medicinal cannabis company Kanabo shares fall sharply after announcing new acquisition.
- Tilray Medical has completed its first sale of cannabis in Malta with its products being stocked in pharmacies.
- The Flowr Corporation harvests its first medicinal cannabis crop in Portugal with a THC level of over 25%.
- The co-founder of Oxford Cannabinoid Technologies calls for a general meeting to overhaul senior management.
- Brains Bioceutical comments that securing Novel Foods validation is both costly and time-consuming.
INVESTING IN MEDICAL CANNABIS 101: FROM LEGISLATION TO ETFs WEBINAR
From Malta to Mississippi, governments are legalising the medical use of cannabis. While the medicinal benefits of cannabis have been recognised since ancient times, for much of modern history the plant has faced strict prohibition. But a relaxation of regulation and cultural attitudes is now fuelling the growth of a legal industry, equivalent or larger than alcohol producers, in the post-prohibition period.
What is the future of medical cannabis legalisation? How can investors gain exposure to this rapidly expanding investment opportunity? What regulatory barriers to and risks of investing in the medical cannabis industry still exist and how can these be overcome?
- The National Institute on Drug Abuse pushes to promote federally funded research into cannabis policy reform.
- The US Department of Agriculture finds that 54,152 acres of industrial hemp were planted last year.
- Harborside Inc. acquires an additional 29.9% interest in San Francisco’s Haight-Ashbury District.
- Maryland committee approves bills to put cannabis legalisation referendum on the November vote.
- A Florida university has released survey results which suggest that 75% of Florida voters support legalising cannabis.
- In Hawaii, people over 65 will soon be able to automatically qualify for medical cannabis, regardless of status.
- The value of hemp harvested in the US last year amounted to US$824 million, led mainly by flower production.
- The Supreme Court is asking the solicitor general to submit a brief on medical cannabis compensation cases.
- Approximately 25% of the Canadian population used cannabis in 2021, down from 27% in 2020.
- Cronos Group reports Q3 revenue of US$20.7 million, an increase of 80% from the previous quarter.
- High Tide announces that it plans to open a new Canna Cabana store in Alberta.
- Alberta cannabis retailers gear up for online sales after the only legal seller is closing down.
- Industry consolidation is beginning in Canada as cannabis retail acquisitions intensify.
- HYTN Cannabis Inc. has been awarded a licence amendment by Health Canada, allowing the sale of cannabis extract.
- MediPharm Labs Corporation completes a US FDA Drug Master File for pure natural CBD API.
LATAM & The Caribbean
- Colombia has set a new two-tier system for maximum hemp THC levels, with the limit for flowers rising to 1%.
- Cannabis-focused start-up Green Hub expands its operations in Uruguay and Canada.
- The Colombian government has defined the use of industrial hemp in different sectors.
- Khiron Life Sciences has opened a new location in Peru, in partnership with the CDL pain clinic.
- The mayor of Bogota has signed an agreement that establishes guidelines for the medical cannabis industry.
- Canadian company PharmaCielo confirms that it will look to develop the Argentine cannabis industry.
- Project Twenty21, a study looking into the tolerance of medical cannabis, has now extended to Australia.
- A reformed cannabis firm sets up an access scheme for former colleagues who are struggling to afford medication.
- Herbidus Medical Center has become a new choice for cannabis treatments after opening its doors.
- New Zealand Health Minister Andrew Little says the ‘medical cannabis scheme is here to stay’.
Africa & The Middle East
- Despite presidential approval, there is doubt whether 3.6 tonnes of cannabis will be shipped from Colombia to Israel.
- Africa is preparing for a legal cannabis push as it is touted to supply all corners of the globe.
- Green Party president calls on the Zambia National Service to stop plans to set up cannabis cultivation plantations.
- A recent clinical trial conducted by Soroka University suggests that cannabis can be a cure for PTSD.
On the global cannabis industry
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