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International Cannabis Weekly: 277

December 9, 2022

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DOWNLOAD YOUR COPY OF THE GLOBAL CANNABIS REPORT: 3RD EDITION

2022 was another massive year for the development of progressive policy on cannabis control globally. Legalisation of high-THC cannabis for non-medical purposes will soon be a reality in several countries around the world. Decriminalisation of adult-use cannabis is also progressing globally, which may be a precursor to commercial legalisation in some regions.

In Latin America, both Costa Rica and Panama adopted their medical cannabis laws for the first time in 2022. In Europe, the Spanish government legalised the magistral use of medical cannabis for select conditions through the country’s public health system in June 2022. Over in Asia, Malaysia has stated its intention to legalise medicinal cannabis, taking inspiration from Thailand.

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CANNABIS RESEARCH REFORM BILL SEES US STOCKS RISE BY UP TO 15%

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TWO THIRDS OF THE CZECH REPUBLIC SUPPORT CANNABIS LEGALISATION

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Europe
  • A specialist congress on the planned legalisation of cannabis in Germany has begun at the Freiburg Exhibition Centre.
  • Astrasana Holding AG has agreed a minority acquisition deal with Belgian firm DLH/Nexgen.
  • Two leading UK cannabis organisations gather in the Houses of Parliament as they call for regulatory reform.
  • Patients from the Isle of Man can now have their cannabis prescriptions fulfilled locally after months of delay.
  • Twenty cannabis companies send an open letter to the European Commission on cannabis legalisation.
  • A French Senate Group has stated that hemp has the potential to bring in €2.5 million revenue per year.
  • Seed Innovations has signed a deal worth €3 million over two years to supply medicinal cannabis to Germany.
  • Avida Global is set to manufacture medical cannabis products in the UK following the acquisition of BCM Specials.
  • As neighbours seek to legalise, Poland’s medical cannabis market could thrive in 2023.
  • Oxford Cannabinoid Technologies has seen its share price jump by 20% after announcing its CEO is stepping down.

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Stocks

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United States

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Canada

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Upcoming Event

Cannabis Europa returns to the Barbican Centre on 2–3 May for what promises to be two full days of exceptional networking opportunities, thought-provoking discussions and future predictions for the growing European cannabis industry. But for today, we answer a vital question…

Why London?

The city is uniquely positioned as the financial capital of Europe where deals get done and investment opportunities are abundant. The buzz of the Big Smoke is the perfect setting as the global cannabis industry unites to push things forward for cannabis in Europe.

Book your super early bird tickets for 2–3 May 2023 now – and avoid the ticket price rise next Friday.

GET SUPER EARLY BIRD TICKETS »

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LATAM & The Caribbean

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APAC
  • Cronos Australia has reported revenue of A$10.7 million in November as the company sold its one millionth product.
  • The Medical Devices Safety Authority has recommended New Zealand keep its classification of low-dose CBD.
  • Incannex Healthcare has bolstered its finances with a A$13 million investment from a US consortium.
  • The Beach Samui has opened the first licensed herbal cannabis dispensary hotel in South-East Asia.

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Africa & The Middle East
  • PharmaCielo announces the first shipment of pharma-grade cannabis extract to customers in Morocco.
  • Univo is in trouble as it has not published its reports and has parted company with its CFO for the third time in a year.
  • The Israeli Ministry of Health will have to deal with weekly demonstrations by medical cannabis patients.
  • Decibel is now entering the Israeli cannabis market with four new strains of the plant.
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