International Cannabis Weekly: 301

NEVADA SENATE APPROVES A RESOLUTION URGING CONGRESS TO FEDERALLY LEGALISE CANNABIS

The Nevada Assembly has approved a resolution urging Congress to legalise cannabis, sending it to the state Senate. The legislation from Assemblyman Reuben D’Silva (D) cleared the chamber in a 37–5 vote on Monday.

It states that cannabis has ‘many well-documented medical uses’, yet remains a Schedule I drug under the federal Controlled Substances Act (CSA), ‘alongside heroin’.

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REGULATORS IN NEW YORK PREPARE TO INTRODUCE CANNABIS FARMERS MARKET

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ASTRASANA ANNOUNCES FIRST SHIPMENT OF MEDICINAL CANNABIS FROM COLOMBIA

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• Chill Brands’ stock value doubles following announcement of new sales and distribution partnership in the UK.
• UK firm Celadon Pharmaceuticals obtains £7million credit facility for medicinal cannabis.
• Clever Leaves partners with SOMAÍ Pharmaceuticals to send first commercial shipment to Portugal.
• Le Lab, a French CBD boutique, set to open first CBD social club in the heart of Paris.
• Poland’s biggest cannabis event aims to transform people’s perspectives on the plant.
• EUCannaJobs announces launch of new website, providing new features for future industry opportunities.

BUSINESS OF CANNABIS: NYC SESSIONS – LAST CHANCE TO GET YOUR TICKETS

The next instalment of Business of Cannabis: NYC Sessions takes place in just 5 days on Wednesday June 7 at Work’N’Roll’ in Chelsea. Join us for an intimate night of talks, networking, an open bar providing beer and wine all night, plus a dedicated cannabis consumption lounge.

Whilst licences are finally being issued in New York, grey market operators are still taking a big slice of the pie. How are the first legal dispensaries to enter the industry faring? How will the next wave of operators perform? How soon until we see progress in regard to consumption spaces?

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• 31 organisations granted over US$50 million in cannabis tax funds by Californian agency.
• Nearly a thousand more individuals from South Dakota have enrolled in the state’s medical cannabis programme.
• Draft cannabis emergency regulations released in Maryland as it prepares for 2023 legalization.
• Louisiana House of Representatives pass cannabis bill to improve the state’s expungement program.
• Diversified Holdings Corporation in final stage development of new eCommerce platform focused on CBD products.
• Bipartisan congressional lawmakers file bill to reduce regulations on farmers that grow industrial cannabis.

• Canada’s High Tide expresses approval for the elimination of the 6% fee on cannabis sales in Manitoba.
• Regulator puts forward suggestion to relax the restrictions imposed on cannabis packaging.
• Toronto’s Lifeist set to acquire ‘Zest’ brand to drive growth through expanded marketing and sales.
• Biopharmaceutical company Avicanna strikes deal to buy medical cannabis assets from chain Shoppers Drug Mart.
• Canada’s Competition Bureau pushes for a more competitive legal cannabis industry.
• Tilray Brands announces pricing of registered offering of CAD$150 million of unsecured convertible senior notes.

While many in the industry continue to extol the commercial opportunities of the cannabis industry in order to try and turn the dial on government and institutional support, FoxNRTH’s Principal Chris Murray believes in a different approach.

By applying a ‘systems approach’, and seeing the industry through the lens of countries’ unique and complex health systems, he believes there are ‘huge opportunities’ for cannabis businesses.

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• Khiron Life Sciences brings medicinal cannabis extract from Latin America to the UK.
• Brazilian Supreme Court to reconsider the decriminalisation of drug possession next month.
• President of Chile permits new drug trafficking law that allows medicinal use of cannabis.
• Senate set to amend the Political Constitution of Colombia, which regulates the recreational consumption of cannabis.
• The first centre dedicated to medical cannabis opens in São Paulo, Brazil.

• Tasmanian Botanics takes local road in order to achieve long-term success, emphasizing flower as key starting point.
• New Zealanders find more evidence to support cannabis in managing pain, sleep disorders, and anxiety.
• Nepalese government to study the cultivation of cannabis for medical purposes.
• Australian therapy network IvyMed continues to expand by opening second clinic in Adelaide.
• NZ study prompts renewed calls for drug policy changes and medicinal cannabis to be funded.
• Thailand’s Move Forward Party (MFP) reaffirms plan to reinstate cannabis as narcotic drug.

CULTIVATION OF EXTRACT PRODUCTS IN GERMANY

The wide diversity of producers and products in the German market is reflected at the wholesale level, with a large number of players competing for market share. While large vertically integrated players like; Tilray, Aurora and Curaleaf, still command large market shares, increasingly the main players in distribution are more dedicated distributors like; Cannamedical, Vayamed and ADREXpharma. These companies source white label from producers abroad and sell it in Germany under their own brand.

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• Government officials and representatives from medical cannabis industry discuss ‘prescription cannabis’ reform in Israel.
• Malawi cannabis steals the show at Malawi Investment Forum (MIF) in Johannesburg, South Africa.
• Moroccan cannabis regulatory body keeps sector waiting as tender for a strategy is cancelled.
• Israeli gadget set to revolutionise cannabis consumption into medication-like approach.
• Supreme Court upholds Ghanaian law declaring cannabis cultivation unconstitutional.
• Cannabis production set to spur employment growth and boost economy in South Africa.