International Cannabis Weekly: 259
THE NORTH AMERICAN CANNABIS REPORT: 3RD EDITION – KEY INSIGHTS
Prohibition Partners is proud to present The North American Cannabis Report: 3rd Edition, which projects the continent’s adult-use cannabis market to be worth US$66.4 billion by 2026. In addition to market sizing projections based on exclusive, scrupulous data collection, industry expert Q&As and analysis, this year’s report highlights the top trends in mature and emerging markets across North America.
2021 was one of the most exciting and challenging years for the cannabis industry yet, with rapid-fire and billion-dollar mergers and acquisitions, massive progress on US state legalisation and right-sizing markets in Canada, California, Colorado, all pointing towards a more cohesive, cross-border industry to come.
ANTI-DRUG COALITION FUNDED BY PURDUE PHARMA OPPOSES THE CAOA
PRO-CANNABIS PRESIDENTIAL CANDIDATE WANTS A MEDICINAL MARKET IN KENYA
- A lawyer building a class action lawsuit against Juicy Fields suggests that no less than €500 million has been lost.
- In order to comply with the low THC levels in European countries, cannabis is being washed with pentane.
- The new North Rhine-Westphalian Minister of Justice supports cannabis legalisation.
- Dermapharm is looking to acquire Arkopharma in a deal said to be worth €450 million.
- SEED Innovations saw its stock drop by around 7% this week, following the release of its full year results.
- Khiron Life Sciences has completed the acquisition of Pharmadrug Production GmbH to increase its stock presence.
- Love Hemp has revealed a 16% drop in revenue after its first financial update since shares were suspended.
- The second session of Cannabis Business Expo returns to Zurich on 10 and 11 September.
- Kush is moving its headquarters from Seattle to Tampa in order to obtain a stronger foothold in the Florida market.
- A new cannabis law has come into effect in Louisiana that protects workers who use medicinal cannabis.
- The Illinois Equal Justice Foundation is awarding more than US$1.4 million to help expunge criminal cannabis records.
- The USA Today editorial board has reversed its position on cannabis and has called for an end to prohibition.
- An agricultural committee says the FDA is ‘missing in action’ when it comes to creating a regulatory framework for CBD.
- BellRock Brands has announced that it has entered into a licensing agreement with Motacann Holdings.
- Arkansas officials have declined a cannabis legalisation initiative, meaning activists will likely go to the high court.
- Body and Mind Inc. continues to expand in the US, including being awarded a conditional dispensary licence in Chicago.
Prohibition Partners’ next report, The European CBD Report, will explore the continent’s challenges, opportunities, current consumer behaviours and anticipated legislation on the CBD market.
There are now unique opportunities to promote your business and brand to the most influential figures in the global cannabis industry: from politics to pharma, and cannabis to consumer-packaged goods. As companies and investors scramble to get a foothold in the market, sponsorship is an invaluable opportunity to put your brand front and centre in one of the industry’s most influential reports.
- Irwin Naturals Inc. has reached a licensing agreement with Entourage Health Corp. to distribute in Canada.
- Health Canada has tasked a committee to provide advice that would help inform regulations on CBD.
- VIVO Cannabis Incorporation saw a large decline in short interest during the month of July.
- The Victoria mayor has written to Health Canada, calling for the government to allow high-dose THC products.
- Isracann Biosciences has closed the first wave of its non-brokered private placement, issuing 4.68 million units.
- A recent consumer survey shows a significant decrease in unlicensed cannabis store use in British Columbia.
LATAM & The Caribbean
- Legislators from Buenos Aires are trying to establish a state medical cannabis company.
- First Vice President Nasralla has proposed growing cannabis for medicinal use to generate jobs in Honduras.
- The Chilean government is in favour of progressive policy on medical cannabis and industrial hemp research.
- The Ecuadorian company CannAndes has exported cannabis to Switzerland for the first time.
- Flora Growth announces a joint venture with Colombia’s largest indigenous community to process cannabis products.
- The Argentine Grows Business Chamber has been formed to bring together the cannabis industry.
The second event of the CB Expo – Cannabis Business Expo and Conference will take place in Zurich from 10-11 September 2022. Leading companies from Switzerland, the rest of Europe and overseas will be presenting all manner of products relating to CBD, medical cannabis, growing, paraphernalia and services in the modern Stage-One exhibition hall. In the Network Area, exhibitors and business visitors will be able to exchange ideas in a casual setting whereas in the Conference Area, high-calibre speakers will present the latest findings from the worlds of research, politics, product development and trade.
The CB Conference provides information on the latest developments and trends relating to cannabis in Europe. The core topics of the CB Expo 2022 are the upcoming legalisation in Switzerland and Germany, the impact of this in Europe, the latest events relating to CBD, professional talks on cultivation, growing, harvesting and analytics along with news and insight from the financial world of cannabis.
- Creso Pharma has signed a non-binding term sheet to acquire medicinal cannabis distributor Health House International.
- Australian-developed cannabis health app OnTracka is launching an insight tool to help compare product efficacy.
- Incannex has partnered with Curia to accelerate the production of a new inhalable drug containing CBD.
- India Hemp Organics has seen a fast rise in sales after releasing its new medical cannabis range.
- The Australian Natural Therapeutics Group is expanding its ABC Can site to grow more medical cannabis.
- Orygen Youth Health has released results of a study that show CBD treatment can reduce severe anxiety in young people.
Africa & The Middle East
- With huge debts owed to the bank, the Israeli company Kentek has gone into bankruptcy.
- Sheik has acquired control of a business that owns two pharmacies in Jerusalem servicing 3,000 monthly customers.
- Between 2019 until now, over 70,111kg of legal cannabis was sold in pharmacies in Israel.
- The Roots Party says US research suggests the best cannabis comes from Nyamira, Nanyuki and Bunyore.
- South Africa’s cannabis industry has been hit by the collapse of an investment platform.
On the global cannabis industry
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