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International Cannabis Weekly: 243

April 15, 2022

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THE UK IS OPENING UP TO MEDICAL CANNABIS

Exclusive data obtained by Prohibition Partners from the NHS Business Services Authority details how the amount of medical cannabis being accessed by patients in England is growing rapidly.

The UK is home to one of the largest patient populations using cannabis in Europe, and regulators are increasingly supportive of patients obtaining products via legal prescriptions. Of course, major regulatory hurdles remain before all of the estimated 1.4 million patients are granted legal access to medical cannabis.

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LEGAL CANNABIS SALES IN THE US ARE SET TO REACH US$33 BILLION THIS YEAR

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WORLDS LARGEST THC TOXICOLOGICAL STUDY SHOWS VERY POSITIVE SIGNS

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Europe
  • The Greek Minister for Investment hopes to bring in €1.5 billion in revenue through medical cannabis cultivation.
  • The Polish High Court has ruled against the main public health agency, affirming the legality of hemp flowers as food.
  • Despite calls from OCT’s co-founder to oust board members, shareholders have voted to keep all eight directors.
  • British cannabis stocks fail to match the upturn from the US, despite a flurry of positive announcements.
  • The German Hemp Association suggests that specialist licensed shops should take care of sales instead of pharmacies.
  • Cannabis investors share their outlook on what they expect from the European market for 2022.

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United States
  • Senators in Massachusetts have passed a bill that will reduce barriers to entry for cannabis start-ups.
  • Cannabis technology company Leaf Trade raises US$12.5 million in Series B round of funding.
  • TerrAscend Corp. announced that it has entered into an agreement to acquire Allegany Medical Marijuana Dispensary.
  • A Kentucky governor is considering an executive order over the lack of progress with cannabis legalisation in the state.
  • Ohio is set to double the number of medical cannabis dispensaries to increase access and meet demand.
  • Airbnb has partnered with California’s Sonoma County craft cannabis nursery Sonoma Hills Farm.
  • Cannabis legalisation is back on the table in Delaware after two initial policy changes were introduced.
  • The Bermuda Assembly has again passed a bill legalising the commercial cultivation and sale of cannabis.

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UPCOMING EVENT

TWO WEEKS TO GO UNTIL CANNABIS EUROPA ADVANCED TICKET SALES END AND PRICES INCREASE

There are just under two weeks to go until advanced ticket sales for Cannabis Europa end and third-release ticket sales start. Secure your seat today and save up to £100 per ticket.

Tickets are selling fast and we have a limited number of Advanced Tickets remaining. All tickets wil be sold on a first-come-first-serve basis. Secure your seat today to avoid missing out.

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Canada
  • Tilray has announced an agreement with Hexo Corp. to buy US$193 million worth of debt.
  • Organigram Holdings reported a loss in the last quarter as its revenue more than doubled from 2021.
  • The 2022 federal budget proposes a new ‘cannabis strategy table’ which would work with the industry.
  • For the first time ever, Quebec residents can benefit from ready-to-eat cannabis products.
  • Hempsana and GAMA expect to begin initial production of Caviar Gold’s portfolio of infused pre-rolls and moon rocks.
  • The number of cannabis shops in Canada has tripled since 2020 and has reached a total of 3,138.

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LATAM & The Caribbean
  • Curaleaf announces its products will be available in Caribbean markets after an agreement with WB Canna Co.
  • The Argentinian government has created a special category for cannabis products to facilitate medicinal use.
  • Khiron Life Sciences announces the opening of a new Zerenia™ clinic and retail pharmacy in Colombia.
  • An agreement has been signed in Paraguay to promote the cultivation of hemp in agricultural schools.
  • The bill to legalise cannabis in Belize is expected imminently, despite opposition from the Church.
  • The Brazilian CoMC offers opportunities for professionals in the sector with a new cannabis event.

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NEW REPORT

THE EUROPEAN CANNABIS REPORT: 7TH EDITION PREMIUM PACKAGES

Alongside The European Cannabis Report: 7th Edition, Premium Packages are available to provide you with the most comprehensive understanding of the European market. These Premium Packages include market sizing forecasts up until 2026, the number of medical cannabis patients per country, and the driving forces behind growth in key markets.

In addition, you can access a 25-page annex to the report – Adult-Use Cannabis in Europe™ – which delves deeper into European adult-use market sizing, including several scenarios for the incoming market in Germany; an overview of the driving forces behind the market opportunity, legislation and regulations, and timelines for legalisation, proposed models and business opportunities over the next five years. Save over £600 by purchasing both the Market Sizing and Adult-Use Cannabis in Europe™ Report packages in a single bundle.

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APAC

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Africa & The Middle East
  • Intercure leads the cannabis market in Israel with an estimated NIS 30 million profit per year.
  • Harvest One Cannabis talks to Proactive about its distribution agreement with Pharmtick and Flat River Group.
  • A Tunisian youth group calls for the creation of a ‘National Cannabis Bureau’ in a bid to legalise cannabis.
  • Isracann Biosciences has completed the acquisition of Praesidio, which will operate as a subsidiary of the company.
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