International Cannabis Weekly: 284
NEW REPORT SHOWS MARKET DEVELOPMENT AND INCREASE IN CBD CONSUMPTION ACROSS EUROPE
Specific laws and regulations for CBD are lagging far behind the evolution of the market, meaning CBD is now potentially the largest CPG product in Europe which is, in the majority, sold under legally ‘grey’ conditions.
This situation is evolving fast, with new laws, regulations and enforcement practices changing at the European and national level on a quarterly basis. The European CBD Report: Health & Wellness is designed to bring readers up to speed on legislation, regulations, the supply chain, consumer behaviour and how to operate a compliant CBD business in Europe.
FIRST LEGAL SALES OF ADULT-USE CANNABIS TOOK PLACE IN SWITZERLAND THIS WEEK
LAWSUIT CONTINUES TO DELAY THE OPENING OF RETAIL DISPENSARIES IN NEW YORK
- New guidelines set to determine the nature of Malta’s adult-use cannabis market have now been announced.
- A new lobbying group has been formed in Germany for the cultivation of cannabis for the leisure sector.
- 15% of European consumers have tried CBD, but further progress is being held back by ‘high turnover rate’ of users.
- Christophe Bex, an MP for La France Insoumise, says the legalisation of cannabis in France will be ‘a long battle’.
- New semi-synthetic THC alternative HHC could encourage a regulatory crackdown on hemp flower in Europe.
- The first ever pharmaceutical cannabis production plant in Greece was opened at Examilia on Thursday.
- The Dutch Food and Consumer Product Safety Authority wants a new leader of the ‘closed coffee shop chain’ experiment.
- A new report finds that CBD is now one of the most popular wellness products in the UK and Europe.
- Senate Majority Leader Chuck Schumer and other key Democrat senators met to discuss cannabis legislation.
- Cannabis vaping brand Ispire Technology will raise US$42 million through an IPO on the Nasdaq.
- Sen. Cory Booker says that ongoing banking issues under prohibition amount to a ‘cannabis crisis’.
- Vertically integrated MSO Ayr Wellness Inc. backs out of US$55 million acquisition of Gentle Ventures.
- Rhode Island’s top judicial official has released new guidance on expunging cannabis records under a legalisation law.
- Virginia lawmakers have advanced bills to start adult-use cannabis sales and allow cannabis businesses to pay less tax.
- Mississippi made history when it officially began its first day of medical cannabis sales on 25 January.
- Businesses in several states with legal cannabis markets are adapting to meet changing laws and regulations.
LAST CHANCE TO GET EARLY BIRD TICKETS + SPEAKERS ANNOUNCED
Early Bird ticket sales for Business of Cannabis: NYC Sessions end tonight at midnight EST. Secure your seat today at this exclusive, limited capacity event before prices rise. We’ll be looking ahead at how New York’s unique regulatory landscape might look 10 years from now in 2033, featuring unique talks from three industry-leading organisations.
Hosted at Work’n’Roll, the intimate event will provide unique networking opportunities for New York’s cannabis business community.
- Organigram Holdings Inc. has been notified by Nasdaq that it will have until July to reach the minimum trading value.
- Health Canada recently required several cannabis companies to stop selling certain products that were incorrectly labelled.
- High Tide releases audited 2022 financial results featuring record fourth quarter revenue of C$108.2 million.
- HEXO Corp. has announced that all of the eight director nominees have been elected as directors of HEXO.
- In British Columbia, Canada’s drug decriminalisation policy takes effect – but advocates say it doesn’t go far enough.
- Village Farms International, Inc. completes approximately US$25 million registered direct offering.
4 DAYS LEFT TO REGISTER | WATCH ONLINE FOR FREE – 7 FEBRUARY
We’ll be exploring the intersection between technology, privacy and cannabis regulation with experts from Torkin Manes LLP, Uber and Truss Beverages. In this expert webinar, we will discuss how Uber and Leafly protect customers’ personal information, as well as risks associated with cross-border information transfers.
In addition to this intersection between technology and cannabis products, there has been a proliferation of new and innovative cannabis products entering the market. Our panel will discuss the regulation of cannabis-infused beverages, risk management and current trends.
LATAM & The Caribbean
- The Costa Rican government is preparing to present an alternative bill for its plan to legalise adult-use cannabis.
- Ease Labs Pharma has received regulatory approval from the Brazilian Health Regulatory Agency.
- Argentina has officially launched a new government agency to boost its medical cannabis and hemp industry.
- Health experts will come together in Ecuador to discuss the use of cannabis and its medical applications.
- Legalising cannabis in Australia could generate A$28 billion in tax revenues over 10 years.
- As of 1 February, CBD will be regarded as a ‘dangerous drug’ and be banned in Hong Kong.
- In Malaysia, a government ministry is looking at the medicinal potential of cannabis.
- Creso Pharma has recorded FY22 unaudited revenue and several key milestones on its path to profitability.
- French and Polish hemp varieties stood out in initial hemp cultivation trials in Australia.
PREMIUM EUROPEAN CBD MARKET SIZING DATA PACKAGE AVAILABLE NOW
Published this week, The European CBD Report: Health & Wellness covers legislation, regulations, the supply chain, consumer behaviour and how to operate a compliant CBD business in Europe.
In addition to the free-to-download report, a premium market sizing data package is also available. Projections for all key European CBD markets are provided with this market sizing data package, which will give you further insight into sales of CBD in Europe by country, data on CBD users in Europe by country and sales of CBD in Europe by product type.
Africa & The Middle East
- The Israeli Ministry of Health has this week stated that CBD is only legal if it is synthetic.
- The cannabis industry in South Africa could be a saviour of the country’s ailing economy.
- IM Cannabis Corp. announces that it has closed a third tranche of its non-brokered private placement.
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