International Cannabis Weekly: 310

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.

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CANNABIS INDUSTRY FACES FRESH BANKING AND PAYMENT HURDLES 

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CRESCO LABS AND COLUMBIA CARE END PLANS TO ENTER MUTUAL AGREEMENT

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• 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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• 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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• 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.

• 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.

• 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.

• 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.