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International Cannabis Weekly: 262

August 26, 2022

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SECURE YOUR EARLY BIRD TICKETS FOR BUSINESS OF CANNABIS: NEW YORK BEFORE PRICES RISE

Join 400 of the North American cannabis industry’s most influential stakeholders as we return to the Big Apple on 3 November for Business of Cannabis: New York. Secure your early-bird ticket today before prices rise by $100 next Wednesday. 

At the conference you can expect:

Entry to the Business of Cannabis conference on 3 November.

Entry to the exclusive post-summit drinks reception on 3 November.

Entry to the Business of Cannabis after-party on 3 November.

Exclusive launches, presentations & discussions on stage – featuring key market insights and Live Q&A opportunities.

Premium networking opportunities with speakers, sponsors and exhibitors.

Access to our event networking app, featuring the full attendee list and meeting scheduling functionality – making it easy for you to connect with industry leaders.

BOOK TICKETS NOW »

A NEW POLL REVEALS THAT MORE PEOPLE USE CANNABIS THAN TOBACCO IN THE US

READ MORE »

BASEL IS LAUNCHING A PILOT PROGRAMME FOR LEGAL CANNABIS USE

READ MORE »

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Europe
  • The Ministry of Social Affairs in Estonia is drawing up a regulation that will allow cultivation of high-THC crops.
  • The health minister of Germany has openly come out in support of cannabis legalisation on TV.
  • Italian medical cannabis patients have formed a new protest amid a lack of crucial distribution for the plant.
  • Fully vertical cannabis firms that control growing, production and distribution are leading the EU extracts market.
  • Six weeks after the downfall of Juicy Fields, an unexpected phase threatens to be just as harmful as the first.
  • Goodbody Health informed investors this week that it intends to apply a 1:10 reverse stock split.
  • OCT has announced plans to launch a ‘strategic budget review’, which will extend its current cash runway.
  • Cantor Fitzgerald analyst suggests that investors pay attention to German cannabis stocks.

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Stocks

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United States
  • Fire and Flower US Holdings Inc. has completed an unsecured convertible debenture for US $5million.
  • Cannabis stocks are fast becoming a fixture in investors’ portfolios, but market volatility is preventing investment.
  • Dutchie has announced a new cannabis point-of-sale platform, including a dual-terminal for dispensaries.
  • A federal court has ruled that Maine’s law requiring a compulsory medical cannabis licence is unconstitutional.
  • New Mexico is projected to make US$22 million in cannabis tax revenue by the end of 2022.
  • The district of Columbia has provided employment protection for medical cannabis users.
  • Washington D.C medical cannabis registrations surged in July after the self-certification law took effect.
  • Sanctuary Cannabis opens a medical cannabis dispensary in Palatka, Florida, the company’s 11th location in the state.
  • Students in Virginia are set to benefit to the tune of US$1 million in cannabis scholarships.
  • After the third year of medical cannabis sales in Missouri, the state has topped US$190 million in sales.
  • Former Las Vegas club owner Robert Frey has plans to transform a 30,000 sq. ft space into a cannabis museum.
  • Hemp is set to play an important role in a major water quality improvement project in the US city of Decatur.

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Canada

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Upcoming Event

The wait is nearly over – the venue for Business of Cannabis: New York (previously hosted in the Rainbow Room at the Rockefeller Centre) is set to be announced next week as we bring together the leading figures in the North American cannabis market.

You can expect another iconic venue for this year’s event on 3 November. Keep your eyes peeled for next week’s announcement and find out where all of the action will unfold.

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LATAM & The Caribbean
  • Allied Corp., based in British Columbia, announces that it has received ANVISA approval for Brazilian importation.
  • The first Zerenia clinic in Rio de Janeiro has been opened by the leading provider of medical cannabis in the area.
  • The president of Costa Rica has stated that the country will move forward with medical cannabis legalisation.
  • The Parliamentary Front in Defence of Medical Cannabis has presented a final report in Sao Paulo.
  • According to a recent survey, 55% of people from Argentina are in favour of cannabis legalisation.
  • Mogi das Cruzes intends to place cannabis medicines within the city’s public health system.

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APAC
  • BOD Australia announced last week it had been awarded a US Hemp Authority Certification for its CBD products.
  • Tilray Medical has received approval and verification from the NHSF for its flagship product.
  • Southern Australia’s first dedicated medical cannabis clinic has opened for business in Adelaide.
  • Health authorities in New Zealand have confirmed that a review of the Medicinal Cannabis Scheme will begin soon.

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Africa & The Middle East
  • Israel’s oldest medical cannabis company, Tikun Olam, has received an EU-GMP certificate.
  • The Israeli High Court has rejected a petition to allow patients to grow cannabis at home.
  • Israeli company InterCure has continued its record results, seeing both revenues and profits climb year-on-year in Q2.
  • The MoH has revealed that Tel Avivians buy the most cannabis in Israel, but in Eilat they buy more per head.
  • Traditional growers in the Eastern Cape feel left behind as cannabis licence costs are becoming too expensive.
  • Cape Town cannabis tech provider The Best Grow has signed a distribution agreement with Industrial Hemp Latvia.
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