International Cannabis Weekly: 290

GERMANY CONFIDENT EU WILL APPROVE RECREATIONAL CANNABIS LEGALISATION BLUEPRINT

German Health Minister Karl Lauterbach has expressed confidence that the country’s plan to legalize recreational cannabis might soon overcome one of its biggest hurdles – European Union approval.

Lauterbach also said a bill to legalize cannabis in Germany could be published “in the next few weeks,” potentially before the end of March or early April.

“We will soon present a proposal that … conforms to European law,” Lauterbach said.

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UK LEGISLATORS ARE BEING URGED TO RECOGNISE THE BENEFITS OF CANNABIS

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UN WANTS U.S. GOVERNMENT TO FORCE STATES TO REPEAL CANNABIS LEGALISATION

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• Proposed changes to Germany’s medical cannabis framework would ‘Seriously impact both patients and industry’.
• Germany imported almost 25,000 kg of medicinal cannabis in 2022 compared to 2021 (20,771 kg).
• DanCann Pharma A/S provides positive insight on progress of cannabis bulk product approval.
• Ananda Developments takes ‘big step’ towards revenues and potential NHS funding with £2m MRX global acquisition.
• European cannabis company Avextra announced the closing of an EU 17 million capital raise.
• Boris Jordan of Curaleaf Holdings Inc expressed his excitement for the potential of the European market for cannabis.
• Avextra announces the closing of its EU 17 Million Convertible Loan Note (“CLN”) bridge capital raise.

PROFESSOR RAPHAEL MECHOULAM: A ‘GIANT’ OF CANNABIS SCIENCE WHOSE GROUNDBREAKING WORK WAS NOBEL PRIZE-WORTHY

Professor Raphael Mechoulam, widely regarded as the ‘father of cannabis research’, died last week at the age of 92. We reflect on his pioneering work and the ‘irreplaceable’ loss and legacy he leaves behind.

Professor Raphael Mechoulam, one of the pioneers of cannabis science, passed away on Thursday 9 March at his Jerusalem home, aged 92.

The news was shared with the world on Friday 10 March in an obituary published by the International Cannabinoid Research Society (ICRS), of which Mechoulam was a founding member.

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• Majority of Texas voters want ‘less strict’ cannabis laws, poll finds as decriminalisation bill advances.
• Arkansas’ medical cannabis program is continuing to provide a nice revenue stream for the state.
• Members of a Kentucky Senate committee recently approved a medical cannabis legalisation bill.
• Glass House Brands Q4 revenue increases 14% sequentially to $32.2 million.
• Delaware Senate tells Congress to end federal cannabis prohibition as state moves to enact legalisation.
• U.S. Department of Justice launches registration application for cannabis pardon certificate.
• Curaleaf and Fab 5 Freddy launch B Noble cannabis brand in Florida in 58 dispensaries across the state.
• The Hawaii Senate voted in favour of a cannabis legalisation bill sponsored by Democratic state senators.
• Hydrofarm Holdings Group announced financial results for its fourth quarter and full year ended December 31, 2022.
• Virginia Cannabis Association worried proposed laws will hurt the hemp and cannabis industry.
• It could be years before Medicare may cover medical cannabis due to complicated rulemaking processes.

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• Another Canadian cannabis producer pauses production over ‘edibles’ dispute with Health Canada.
• INCA Renewtech, a Canadian producer of hemp composites, has received a CAD 10 million grant.
• Village Farms International Q4 cannabis revenue declines 6% sequentially to $33.3 million.
• Fire & Flower expands market presence in Winnipeg to five cannabis retail store locations.
• Avant Brands’ subsidiary GreenTec Holdings completes the acquisition of Avant Brands K1 Inc.

• The state company MisioPharma will deliver medicinal cannabis oil to 300 patients in Misiones.
• Antigua and Barbuda has become the first Caribbean country to allow Rastafari to grow cannabis.
• Approximately 128 small traditional cannabis farmers will be targeted for support from the Jamaican government.
• Salvador-BA enacts law for free access to cannabis-based medicines in public and private health.
• Ultimate Sports, Inc. announces acquisition of Sannabis S.A.S., a licensed medical cannabis company in Colombia.
• The cannabis & hemp Expoindustry was declared of tourist interest by the municipal tourism entity of Mar Del Plata.
• Uruguay exported cannabis to the United States for the first time and hopes to grow in that market.

• Australia’s biggest pharmacy chain, Chemist Warehouse, has joined a medicinal cannabis joint venture.
• ‘You are ruining the industry’ – top prescriber delivers blistering attack on firms putting profit before patients.
• Former Greens MLC Jeremy Buckingham heads Legalise Cannabis Party NSW Legislative Council for March 25 election.
• Cannabiz launches inaugural Cannabiz Awards for Australia and New Zealand to celebrate an industry changing lives.

• Multinational cannabis company IM Cannabis to reduce workforce by 20%, restructures leadership team.
• The State of Israel subsidises medical cannabis by approximately NIS 100 million per year.
• The new Spice Labs brand, which includes 8 strains, 4 of which were launched in pharmacies in Israel.
• Pelemix Global announces the acquisition of Even-Ari Green Ltd for expansion in Israel.