International Cannabis Weekly: 310
August 4, 2023
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NHS APPROVES MAJOR CLINICAL TRIAL ON CANNABIS MEDICINES AND CHRONIC PAIN
A clinical trial investigating the efficacy of cannabis-based medicines in up to 5,000 patients with chronic pain has been given the green light from UK regulators.
CANNABIS INDUSTRY FACES FRESH BANKING AND PAYMENT HURDLES
CRESCO LABS AND COLUMBIA CARE END PLANS TO ENTER MUTUAL AGREEMENT
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Europe
- Advocates emphasise positive effects of cannabis reform amid ‘normalisation’ concerns in Malta.
- Luxembourg implements new adult-use cannabis legalisation law that is not based on a low-THC model.
- Netherlands-based Bedrocan owes profit to its focus on medical cannabis: Q&A with founder Tjalling Erkelens.
- Cannabis distributor Cantourage informs investors that it expects to see ‘double digit’ sales growth this year.
- Amsterdam’s district committee critical over limited participation and involvement in cannabis trial.
- MGC Pharma announces A$2.7 million share purchase plan and Chill Brands revenues drop 87%.
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Stocks
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United States
- New report reveals Illinois has some of the highest-priced cannabis products in the United States.
- New York officials close another seven cannabis stores as the state continues its crackdown.
- Adult-use cannabis sales in Maryland hit record total of US$87.4 million in its first month.
- Minnesota citizens can now legally purchase adult-use cannabis after state enacts a bill into law.
- Non-profit JUSTÜS Foundation receives US$100,000 to provide opportunities to legacy cannabis operators.
- Washington to reimburse legal fees for those prosecuted on unconstitutional cannabis charges.
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New Report
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Canada
- Vancouver’s Village Farms International set to publish second quarter 2023 financial results next week.
- Toronto’s Etain receives approval for cultivation and manufacturing facility in Buffalo, New York.
- Canadian federal government could face class action lawsuit over cannabis legalisation.
- Ontario cannabis distributor ready to lower its markups to help industry stay afloat.
- British Columbia’s Agra Ventures Ltd announces name change and stock ticker symbol change on CSE.
- Canada’s MediPharm Labs completes shipment of CBD oils to the United States for use in a clinical trial.
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LATAM & The Caribbean
- Florida-based Flora Growth announces sale of its Colombian-related subsidiaries and assets for C$0.8 million.
- Brazilian cannabis parliamentary front opens selection registration for projects related to medicinal cannabis.
The Uruguayan Institute for Regulation and Control of Cannabis (IRCCA) releases latest adult cannabis sales data.
Medical cannabis plant in Uruguay shuts down, amid regulation concerns and limited foreign markets.
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APAC
- Australia’s Trava Health fined A$82,500 million by Therapeutic Goods Administration for advertising breaches.
- Cann Group set to target institutional investors after it falls short in latest capital raise from its shareholders.
- MP’s proposed reform would spare New South Wales drivers who use medicinal cannabis from prosecution.
- New Zealand’s medical cannabis industry set to benefit from amended regulations approval.
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Africa & The Middle East
- Policymakers recognise South Africa’s cannabis industry has potential for economic growth.
- Israel’s highly anticipated final draft for medical cannabis reform set to be unveiled this week.
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