International Cannabis Weekly: 277

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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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• 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.

• Cresco Labs expands its retail presence in Orlando, Florida by opening a second dispensary in the region.
• The US Pharmacopeia has released free Cannabis Tool Kits for the consistent characterisation of medical cannabis.
• New Jersey cannabis regulators have approved rules for public cannabis consumption areas.
• Brittney Griner has landed in the US after being released in a high-profile prisoner swap. 
• Nine hundred Mississippians have already applied and been certified for their medical cannabis cards.
• Thousands of Connecticut residents with low-level cannabis convictions will have their records cleared.
• The historic US cannabis research bill sparks calls for change in the UK legislation to increase funding.

• Nextleaf Solutions partners with NOYA Cannabis to launch Cookies ‘C’ branded vapes.
• Aurora Cannabis repurchases US$103 million principal amount of convertible loan notes.
• Data released by New Cannabis Ventures indicates High Tide is now Canada’s top revenue-generating company.
• Government officials have named the panel members who will carry out a review of adult-use cannabis legalisation.
• According to law firm Miller Thomson, Canadians who invested in cannabis companies have lost over C$131 billion.
• The Saskatchewan government has introduced two acts that give First Nations autonomy on cannabis sales.
• Delta 9 Cannabis has opened its 17th cannabis store in the province of Manitoba and 39th in total.
• Blue Sky Hemp Ventures has announced that it has acquired True North Cannabis Corp’s retail and bulk assets.

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.

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• The Director of the IRCCA has stated cannabis with 15% THC could soon be available in Uruguayan pharmacies.
• Allied Corp has successfully negotiated another sale and export of Colombian produced cannabis flower.
• Colombian cannabis producers call for urgent regulation for adult-use, citing it will benefit public health.
• Honduras is now moving to establish a framework for industrial hemp in what could be a US$3 billion market.
• The University of Buenos Aires has developed a bioink containing cannabis oil that can restore damaged tissues.
• The Colombian Senate has overwhelmingly approved a bill to legalise cannabis in Colombia.

• 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.

• 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.