International Cannabis Weekly: 264
LYPHE GROUP ARE SET TO ACQUIRE MATERIA AND CREATE A NEW EUROPEAN CANNABIS POWERHOUSE
London-based Lyphe Group has signed an agreement to acquire Materia for an undisclosed sum, with the new combination expected to have a ‘massively positive effect’ on the industry.
The transaction will see the creation of a new European cannabis powerhouse with an established footprint in the largest markets and capabilities spanning the supply chain vertical for medical cannabis.
It marks the latest major development from Lyphe, which has been pushing to replicate its successful direct-to-consumer business model across international markets.
With Materia’s EU GMP (Good Manufacturing Practice) certified manufacturing facility in Malta, and an established distribution channel in Germany, Lyphe will not only be able to accelerate its expansion plans but also significantly reduce costs for patients.
ADULT-USE SALES IN NEW YORK ARE STILL SET TO HAPPEN IN 2022
KING’S COLLEGE TO LEAD THE LARGEST EVER INDEPENDENT STUDY INTO CANNABIS
- The Working Group on Cannabis as Medicine says Germany is not equipped for the medical cannabis demand.
- Statutory health insurance companies in Germany have growing concerns on long-term cannabis dependency.
- Market growth in Italy is stagnating due to the military’s monopoly on medical cannabis production.
- German government officials are questioning the veracity of key facts in a news release by Tilray.
- Supporters have gathered in Prague to support medical cannabis legalisation amid a new law being drafted.
- The Czech National Anti-drug Coordinator wants to regulate the Czech cannabis market.
- The GCIA has described a raid by 25 police officers on a hemp farm as ‘incomprehensible’.
- Cannovum’s share price increased this week after it reported record sales and new customers in the first half of 2022.
- A new poll suggests that the majority of American voters support cannabis banking reform.
- There has been a call for clinical trials to determine if anti-inflammatory benefits of CBD use can be demonstrated.
- A state fair poll conducted by lawmakers finds that the majority of Minnesotans support cannabis legalisation.
- Fetterman’s call to Joe Biden on Labor Day included a conversation on cannabis reform.
- Innovative Industrial Properties has acquired a cannabis facility in Massachusetts for US$21.5 million.
- A new policy that would allow the US Marines to allow applicants who use cannabis is under consideration.
- The Pennsylvania Governor announces a plan to pardon the state’s non-violent cannabis-related convictions.
- According to cannabis data firm BDSA, cannabis sales increased 4.6% sequentially in July.
- XS Financial Inc. provides a US$15 million CAPEX lease facility to Ascend Wellness Holdings.
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- Supreme Court approves C$2.3 million payout in class action against Organigram over tainted cannabis.
- Icanic Brands Company Inc. announces the appointment of Micah Anderson as Chief Executive Officer.
- Cannabis stores, restaurants and bars in British Columbia are starting to restock after a distribution strike.
- Cannara Biotech Inc. has announced that Derek Stern acquired 720,000 common shares in the capital of Cannara.
- Vancouver foundation’s cannabis distribution programme gets Health Canada’s approval.
- Cannabis retailer Superette Inc. has been granted court protection from creditors under the Companies’ Creditors Act.
- Growers authorised to produce cannabis by Health Canada in Winnipeg will soon need another licence by the city.
- FIKA opens the world’s first cannabis retail store in a major transportation hub at Toronto’s Union Station.
LATAM & The Caribbean
- The province of Corrientes in Argentina has launched a new initiative to promote the production of medical cannabis.
- President Cortizo of Panama has signed a decree to regulate access to medicinal cannabis.
- A new study suggests that human clinical trials are needed to understand the benefits of CBD for heart health.
- Allied Corp. claims it has shipped the world’s largest known legal cannabis export to Colombia.
- The Seychelles Kannabis Association has launched to lobby for the legalisation of cannabis use.
- A top senator has said that Mexico is falling behind other countries on cannabis legalisation.
- The UK Government has blocked Bermuda from legalising cannabis the day the new Prime minister takes office.
- Argentine company Cannava has been nominated as the best firm for medical cannabis production in Latin America.
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- Despite metropolitan France setting up an experiment with medicinal cannabis, French Polynesia has not been included.
- The Minister for Home Affairs in Singapore is unlikely to decriminalise medicinal cannabis.
- Epsilon Healthcare has raised A$1.65 million in capital with former CEO Jarrod White participating in the raise.
- The Green Party in Queensland has pledged to defend drug driving charges for medical cannabis patients.
- A medical cannabis trial in Australia has concluded that prolonged use in adults reduces the frequency of seizures.
- Cronos Australia has said it plots further growth of its CanView platform and targets A$100 million revenue.
Africa & The Middle East
- For the second month in a row there has been a sharp increase in the number of Israeli medical cannabis patients.
- Israeli pharmaceutical company Teva has diversified into the cannabis market and is touted to become a major player.
- Morocco’s new cannabis production law is causing frustrations amongst farmers due to the delay in implementation.
- The Health and Childcare minister of Zimbabwe has urged the country to embrace the legal use of cannabis.
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