International Cannabis Weekly: 293

GERMANY SET TO SCALE BACK PLANS FOR CANNABIS LEGALISATION

Germany could be set to scale back its plans for the nationwide legalisation of adult-use cannabis in favour of a ‘more realistic’ approach to reform – but what will this look like?
There has been much hype and speculation around Germany’s plans to legalise adult-use cannabis, since draft proposals were announced by the Minister of Health Karl Lauterbach (SPD) in October.

Under the initial proposals citizens over the age of 18 would be free to carry up to 30g of cannabis for personal use and to grow up to three plants per person at home. Sales of regulated products would also be permitted from licensed retail shops, pharmacies and online.

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NO UNEXPECTED SHIFTS OR UPHEAVALS FOR CANNABIS IN EUROPE

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KENTUCKY HAS BECOME THE 38TH STATE TO LEGALISE ACCESS TO MEDICAL CANNABIS

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• Brains Bio has signed a landmark supply agreement with Prati-Donaduzzi in South America.
• Illegal seeds continue to dominate Europe’s CBD cultivation market despite EU ‘crackdown’.
• Spanish Workers’ Party has managed to get an initiative approved for cannabis at less than 1% THC.
• The legalisation of cannabis may be introduced in the Portuguese parliament later this year.
• CiiTECH has been sold to fellow UK-based cannabis company Tenacious Labs for £210,000.
• United Patients Alliance (UPA) Brighton Medical Cannabis Summit will bring together patients, doctors and others.
• French Association of Cannabinoid Producers has called on the government to improve the limit rate of THC.
• Lausanne has received the green light from the Federal Office of Public Health to start the ‘Cann-L’ project.
• Elixinol is making a highly anticipated return to the UK market thanks to a partnership with BRITISH CANNABIS™.

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• NBA will no longer penalise cannabis use, report says: here’s how other leagues measure up.

   

• Arkansas lawmakers approve bill to protect medical cannabis patients’ rights to carry concealed guns.

   

• The number of licences DHSS approves for new employees each month has quadrupled since November.

   

• Minnesota cannabis legalisation bill clears 14th House committee, with revised tax rate and new fiscal note.

   

• Illinois Senate passes bill to block police from searching cars based on cannabis smell.

   

• Gov. Kristi Noem has signed several bills into law amending South Dakota’s medical cannabis regulations.

   

• Gov. Spencer Cox has signed legislation establishing a cannabis-specific medical research centre in the University of Utah.

• MediPharm Labs Corp. completes acquisition of VIVO Cannabis Inc. and confirms final ownership ratio.

   

• Aurora Cannabis Inc. shares jump after it repurchases C$46.6 million of its convertible senior notes.

   

• Manitoba Harvest debuts the brand’s first Regenerative Organic Certified™ Hemp Hearts at select Whole Foods Market.

   

• SNDL and Nova Cannabis announce an amendment to the previously announced transformational strategic partnership.

   

• SNDL Inc. announces that the Alberta Securities Commission has granted a management cease trade order.

   

• High Tide presented at Sequire Cannabis & Psychedelics Investor Conference on 5 April 2023.

   

• CanadaBis Capital announces another record fiscal period as Q2 2023 net income increased 373% year-over-year.

   

• Rubicon Organics Inc. reported its financial results for the fourth quarter and year ended 31 December 2022.

   

• CannaPharmaRx signs supply agreement with Y.S.A Holdings for up to $15 million annually of commercial cannabis.

ACCESS PREMIUM DATA WITH THE EUROPEAN CANNABIS REPORT: 8TH EDITION

Approximately 427,000 patients in Europe will consume medical cannabis for various conditions this year, rising to approximately 1.4 million patients by 2027 – an increase of more than 230% over the next four years.

Sales of medical cannabis in Europe will generate €516 million in 2023, rising to €2.1 billion by 2027. Germany will continue to have the largest medical cannabis market in Europe, and the UK is set to become the second-largest market by the end of 2023.

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• Xebra Brands has received authorisation to cultivate, process and commercialise hemp in Mexico.

   

• Heritage Cannabis Holdings has received a purchase order to supply CBD products for wholesale distribution in Brazil.

   

• Pampa Hemp introduces first medical cannabis seed developed and produced in Argentina.

   

• Flora Growth receives certification for formulation lab; launches prescription cannabis medicines in Colombia.

   

• Brains Bioceutical Corporation has signed an agreement with Prati-Donaduzzi, to supply natural EU-GMP CBD API.

• Aspen Australia has exclusive rights to market, sell and distribute Emyria’s over-the-counter product.

   

• Queensland regained its crown as Australia’s cannabis capital in March with Special Access Scheme.

   

• India’s Technology Development Board has pledged $1.4 million for the processing of industrial hemp.

   

• Avecho Biotechnology announces $11 million capital raising to fund phase three CBD trial to treat insomnia.

   

• Ora Pharm continues to focus on leading New Zealand’s cannabis market with R&D grant from Callaghan Innovation.

   

• Doctor of many projects: medical cannabis clinic co-owner ‘obsessed’ with pioneering scheme.

• Israeli cannabis companies on the stock exchange lost a quarter of a billion shekels last year.

   

• Western Cape Minister of Agriculture has unveiled the Cannabis Framework and Implementation Plan (CanPlan).

   

• InterCure Ltd. has announced its financial and operating results for the fourth quarter and year ended 31 December 2022.

   

• Innocan Pharma has filed a joint application with Ramot at Tel Aviv University to the World IPO.