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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.

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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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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

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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

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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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