International Cannabis Weekly: 316

NEW YORK’S ADULT-USE RETAIL MARKET WILL OPEN UP TO MSOs

New York’s Cannabis Control Board hosted a landmark session this week in which a number of major resolutions were passed, which the industry hopes will kickstart momentum in the state’s cannabis programme.

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CANNABIS STOCKS RISE 20% FOLLOWING RESCHEDULING RECOMMENDATION

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NEW JERSEY TO OPEN ADULT-USE CANNABIS APPLICATIONS FROM THE END OF SEPTEMBER

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• Is the EU a step closer to legalising cannabis? Exploring how different EU countries view cannabis.
• UK’s Lyphe Group partners with Boveda INC from the US to meet UK medical cannabis patients’ needs.
• Government climbdown on cannabis medicine misled NHS patients, campaigners say.
• New research in Germany finds medical cannabis ‘effective’ and ‘fast-acting’ in relieving neuropathic pain.
• Seed Innovations’ stock jumps 30% after multiple announcements about its investee companies.
• CanXChange’s groundbreaking CX financing service ready to set a new benchmark for industry standards.

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• HHS reclassifying recommendation could see new era in cannabis advertising.
• For the fourth month in a row, Massachusetts breaks its record for adult-use cannabis sales.
• Adult-use cannabis and medical cannabis sales continue to rise in Connecticut reaching almost $25 million.
• A California bill that would legalise cannabis cafes receives bipartisan support, passing in a 33-3 vote.
• Iconic cannabis brand High Times acquired by psychotropic innovator Lucy Scientific.
• New Jersey’s Cannabis Regulatory Commission (NJCRC) proposes rules to expand cannabis edibles.

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• Active medical cannabis registrations and spending in Canada hit a pre-legalisation low.
• Investment trading for Toronto’s Canopy Growth Corporation resumes after regulatory pause.
• Vancouver’s Lucy Scientific announces BlueSky Wellness acquisition, expanding its reach in the Global Wellness Market. 
• High Tide Inc. to open new Toronto store as it looks to solidify position as Canada’s largest non-franchised cannabis chain.
• Manitoba Liberal Party to crack down on illicit online cannabis sales in the lead-up to the provincial election on 3 October.
• Vancouver’s Ovation Science announces licensing agreement with Planet 13 Holdings.

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• The Office of Cannabis Regulations in the Virgin Islands unveils new draft cannabis legalisation rules.
• Uruguay considering the possibility of regulating the sale of adult-use cannabis to foreign tourists.
• Thirty medical cannabis clinics to be incorporated into Argentina’s Santa Fe Health System.
• Aurora Cannabis partners with Herbarium, a herbal medicine company in Brazil, to expand its CBD portfolio.

• Polynesia set to legalise CBD with its eyes firmly set on medical cannabis roll out.
• Cannabis brands and China: navigating the uncharted waters of an emerging intellectual property challenge.
• New Zealand’s Aether Pacific Pharmaceuticals agrees distribution deal with Melbourne-based Novachem.
• Australian patients using medical cannabis show improvements in health-related quality of life.

• New data shows Canada exported 60 tons of cannabis between April 2022 and March 2023, 35% of that to Israel.
• Trade and Industry Dept appoints legal team to get interim cannabis reform measures in place by year end.