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International Cannabis Weekly: 274

November 18, 2022

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CANTOURAGE’S €80M LISTING SEES ITS SHARE PRICE SKYROCKET BY 300%

Cantourage has become the third and largest major European medical cannabis operator to go public this year, as investment confidence in the cannabis sector shows further signs of recovery.

The young German company officially announced plans to go public on the Frankfurt Stock Exchange (FSE) on November 10, before launching its shares on the ‘scale’ segment of the market a day later on Friday November 11.

It now joins German stablemate Synbiotic and Danish operator Stenocare on the FSE, and marks the second major investment in German cannabis in as many months despite the ongoing financial crisis across the continent.

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A NEW BILL IN IRELAND WILL PROPOSE CANNABIS DECRIMINALISATION

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NHS NEUROLOGIST TURNS THEIR BACK ON CANNABIS PATIENT

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Europe
  • Switzerland could become the second European country to legalise recreational cannabis after Germany.
  • 66% of Scots agree that people should not be prosecuted for possession of cannabis for personal use.
  • An eleventh municipality is set to be able to legally distribute cannabis in the Netherlands.
  • Chain Pharmaceuticals has announced its opening a phytocannabinoid drug discovery platform.
  • Despite flaws, it’s unlikely that the EU Commission will halt Germany’s plans for an adult-use cannabis market.
  • Further CBD products have been disqualified as the UK food safety review moves slowly along.
  • The UK’s first cannabis patient conference has taken place, dedicated to those benefiting from medical cannabis.
  • Tilray has increased the shelf life of its products by switching to glass bottles, simplifying stocking for pharmacies.

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Stocks

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United States

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New Report

Cantourage has become the third and largest major European medical cannabis operator to go public this year, as investment confidence in the cannabis sector shows further signs of recovery.

The young German company officially announced plans to go public on the Frankfurt Stock Exchange (FSE) on November 10, before launching its shares on the ‘scale’ segment of the market a day later on Friday November 11.

It now joins German stablemate Synbiotic and Danish operator Stenocare on the FSE, and marks the second major investment in German cannabis in as many months despite the ongoing financial crisis across the continent.

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Canada
  • Micro cannabis licences continue to be the most popular cannabis licence type in Canada.
  • Purplefarm Genetics has purchased a shuttered cannabis production facility from Canopy Growth.
  • Trees Corporation has announced record third-quarter 2022 sales and system wide sales of C$2.5 million.
  • HEXO Corp announced the execution of a long-term supply agreement with Entourage Health Corp.
  • TerrAscend Corp has reported a Q3 revenue increase of 3% sequentially to C$67 million.
  • MediPharm Labs reports a quarterly net revenue of C$7.3 million, an increase of 66% sequentially.

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LATAM & The Caribbean
  • For the first time in Brazil, anxiety disorder will be treated with cannabis flower therapy.
  • In Costa Rica, officials and producers began training on the cultivation of medical cannabis and hemp.
  • Cannabis marches are taking place in Argentina with the demand of urgent modification of the drug law.
  • The Ministry of Health for Argentina has stated that cannabis can continue to open the door to new markets.
  • The first cannabis flavoured sparkling wine drink has been launched in Mendoza.

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Sponsorship

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APAC
  • Eqalis receives GMP certification to accelerate local production of medicinal cannabis.
  • A recent study in Malaysia suggests that cannabis is effective in fighting infections where other drugs fail.
  • A State Minister stated she was extremely happy about the presidents proposal for growing cannabis in Sri Lanka.
  • Thailand has shaped its newly legal cannabis industry with an updated set of restrictions.
  • Puro has teamed up with Medical Kiwi to export medical cannabis products to Europe.
  • Medicinal cannabis telehealth provider Polln has launched, delivering video consultations from experienced clinicians.

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Africa & The Middle East
  • Golan Biton announced ‘I’m taking over the place’ after acquiring 51% of Medi Pharm.
  • Bull Pharma is set to sell a 10 gram bag of cannabis for NIS 399 – not far from black market prices.
  • Israeli cannabis technology company BYND Cannasoft announcse a 494% increase in assets to US$33 million.
  • IM Cannabis reports a 78% year-on-year revenue increase and a 12% increase sequentially.
  • South Africa remains in legal cannabis limbo with the new Cannabis for Private Purpose bill awaiting finalisation.
  • The CRI will sponsor the first clinical trial on medicinal cannabis’ effectiveness in curbing opioid addiction in South Africa.
  • Lotus Ecoculture is set to supply EU-GMP compliant medical cannabis products from Africa.
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