International Cannabis Weekly: 272
The second Business of Cannabis: New York event took place yesterday at the prestigious New York Academy of Medicine on 5th Avenue. The premier conference brought together over 400 industry leaders to discuss the future of cannabis in North America.
If you missed any of the action, catch up on the key insights from the event, covering policy, investment, social equity, licensing and retail.
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- Astrasana Holding AG has partnered with Solumedics AG in Switzerland to initiate its first medical cannabis import.
- Antwerp council has to pay Florapoint €13,400 in compensation for incorrectly shutting down its CBD store.
- The Spanish political party in favour of cannabis legalisation will stand for elections in Madrid and Barcelona.
- Hemp and CBD are set to be removed from the German Narcotics Act, ending business prosecutions.
- New data shows there were 784 more private medical cannabis prescriptions in 2021 in the UK than previously reported.
- Campaigners in the UK are calling for the establishment of a new government office dedicated to medical cannabis.
- Hellenic Dynamics and Entourage are both set to go public in the coming months.
- Demecan eyes up a €40m investment as it aims to become Germany’s largest adult-use cannabis cultivator.
- CTrust introduces the first-of-its-kind cannabis business credit score – Cannabis Trust Score.
- New data shows majority support for Maryland cannabis legalisation referendum, including most Republicans.
- California Governor Gavin Newsom wants California to legally supply cannabis to the rest of the nation.
- U.S Sentencing Commission considers amendments to how past convictions can affect new convictions.
- Safe Harbor Financial announces a definitive agreement to acquire Abaca for US$30 million.
- A majority of Alabama voters continue to support medical cannabis, with only 9% against legalisation.
- HEXO Q4 revenue has declined by 7% sequentially to C$42.5 million as the company strategically realigns.
- Tilray Brands and Charlotte’s Web announce a strategic alliance in Canada next year.
- Alberta cannabis retailers consider a cap on new shops as increasing competition makes it harder to be profitable.
- Creso Pharma is set to capitalise on the Canadian cannabis sector after receiving an amended 2.0 licence.
- EGF Theramed Health Corp. has begun to look into the acquisition of overleveraged retail cannabis assets.
- Canadian firm Heritage Cannabis Holdings ships first products to West Virginia dispensaries.
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Cannabis is undergoing a process of re-liberalisation in Asia, where the damaging drug control policies, which have been pushed for decades, are receding in favour of more supportive and economically sound policies.
While countries such as India, South Korea, China and Japan still face regulatory hurdles from their respective governments, there are burgeoning opportunities for commercialisation in exports – and even loopholes that allow for certain businesses to operate and thrive.
In The Asian Cannabis Report 2nd Edition, Prohibition Partners and Teera Group explore the cannabis regulations and market developments in the most populous continent in the world, uncovering unique challenges and opportunities across various countries in Asia.
LATAM & The Caribbean
- The high cost of producing cannabis in Colombia is starting to concern growers as they ask for government support.
- Virgin Islands lawmaker introduces legislation to legalise adult-use cannabis and expunge past convictions.
- The University Observatory of Medical Cannabis officially opens in Trucumán, in Argentina.
- INTA consolidates its strategic role in the development of the medical cannabis value chain in Argentina.
- In a bid to accelerate its economy, Thailand is dropping import restrictions on cannabis seeds.
- A cannabis board in Guam approves an official’s application for a testing laboratory.
- Legalising cannabis cultivation is once again being discussed during the election in Himachal Pradesh.
- Halal Hemp is fighting cannabis prohibition to bring the plant to Muslims around the world.
- WestCann Holdings Ltd announces it has signed an agreement with IOTO for the reconstitution of plant matter.
- The Therapeutics Goods Administration issues two more medicinal cannabis advertising fines.
Africa & The Middle East
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