International Cannabis Weekly: 319

SAFER BANKING ACT ON TRACK AS GOVERNMENT AVOIDS SHUTDOWN

Last weekend the US House and Senate both voted through a short-term funding deal, seeing a government shutdown avoided with just three hours to spare.

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NEW YORK OPENS CANNABIS LICENSING APPLICATIONS UNTIL 4 DECEMBER 2023

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GERMANY’S CANNABIS LEGALISATION MARCHES ON DESPITE OBSTACLES

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• SOMAÍ Pharmaceuticals takes ‘significant step towards revenue generation’ as Portuguese market gains momentum.
• Leading CBD brand Hempura merges with new parent company, BRITISH CANNABIS. 
• Navigating the intricate world of medical cannabis regulation in Italy: a comprehensive guide.
• New UK report finds European countries are ‘wilfully ignorant’ in policing and criminal enforcement of cannabis use.
• Ireland’s Citizens’ Assembly to outline drug policy reform recommendations in the coming weeks.
• Cannabis pilot project for the regulated sale of recreational cannabis enters concrete phase in Lausanne, Switzerland.

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• New York’s Office of Cannabis Management (OCM) finalises the state’s adult-use regulations framework.
• Florida’s supreme court sets hearing date to determine if adult-use cannabis legislation bill will make 2024 ballot.
• New York invites citizens to apply to testify at a public hearing on adult-use cannabis roll-out.
• Illinois reports record breaking adult-use cannabis sales for the second month in succession.
• New Mexico’s adult-use cannabis sales surpass half a billion dollars, with monthly sales just shy of breaking the record.
• Colorado’s Cannabis Business Office (CBO) announces first recipients of its Cannabis Business Loan Programme.

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• Edmonton’s Aurora Cannabis signs new deal worth a potential C$38.8 million with Canaccord Genuity to pay down debt.
• Cannabis giant Tilray completes its acquisition of eight beer brands, and is poised to triple its beer sales.
• Chicago’s Verano Holdings receives conditional approval to list its subordinate Class A voting shares on Cboe Canada.
• Virtual medical cannabis clinic launches in Canada providing online access to industry leading professionals.
• Tilray reports revenues of US$177 million and reaffirms cannabis as a core focus despite portfolio diversification.
• Toronto’s Heritage Cannabis reports US$8.79 million Q3 2023 revenue, showing strong year on year growth.

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• Public laboratory will provide medicinal cannabis-based medicine to patients in Amapá, Brazil.
• Colombia continues to advance in using medicinal cannabis to treat diseases and medical conditions.
• Despite protests, Mayor of Balneário Camboriú, Brazil, takes a stand by vetoing cannabis bill.
• Paraguay emerges as a thriving centre for producing industrial cannabis products following surge of investments.

• Tasmanian government seeks feedback on proposed changes to the way cannabis is regulated in the state.
• New Zealand’s Cannasouth cuts jobs and raises capital while it waits for Medicinal Cannabis Agency (MCA) verification.
• Fijian government set to explore medical cannabis industry as a potential source for generating revenue.
• Industry leaders in Victoria say cannabis regulations should be loosened if the sector is to reach its full potential.

• Nigeria’s National Drug Law Enforcement Agency (NDLEA) plans alternative strategies to dismantle drug cartels.
• Malawi set to reap benefits after successfully facilitating its first export of cannabis to Macedonia.