International Cannabis Weekly: 331

US CANNABIS STOCKS SPIKE AS DEA CONFIRMS RECLASSIFICATION REVIEW

The latest development is part of a review process initially launched by President Biden way back in October 2022.

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MEDICAL CANNABIS TO BE LEGALISED IN SPAIN ‘SOON’, HEALTH MINISTRY CONFIRMS

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‘MILLIONS’ OF MEDICAL CANNABIS PATIENTS ANTICIPATED IN GERMANY

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• Belgium’s national drugs commissioner wants to follow Portugal’s drug decriminalisation model.
• What’s in store for European cannabis industry year? Industry leaders have their say.
• The Hague City Party’s motion to participate in a coffeeshop experiment has been adopted by the city council.
• US-based Village Farms announces launch of top-selling cannabis brands in the UK, via 4C Labs.
• Hydrogen Utopia secures 49% ownership of North Macedonian medical cannabis producer Ohrid Organics.
• New partnerships show ‘strategic progress’ for Hellenic Dynamics despite widened half-year loss.

• Local governments in New York could be empowered to close unlicensed cannabis businesses under ‘SMOKEOUT Act’ bill.
• Georgia-based cannabis payments processor seeks US$500m in damages as it announces closure.
• Federal lawsuit challenges Mississippi’s cannabis advertising ban, citing violation of free speech rights.
• Washington bill proposes reversal of newly introduced employment protections for cannabis users.
• Cannabis users in Colorado could soon be allowed concealed carry permits if ballot is approved.
• 22nd Century Group group sells its Las Vegas-based CBD unit in fire sale – making a US$57 million loss.

Europe’s medical market continues to see strong growth, with 21 countries now seeing patients treated with medical cannabis.

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• Major banks in Canada still refuse to work with businesses in the legal cannabis industry, advocates say.
• Spikes in cannabis-related psychosis not associated with legalisation, Canadian researchers find.
• Canadian cannabis retailer Trees Corp. enters creditor protection and takes out C$800,000 loan.
• High Tide unveils opening of Canna Cabana in Mississauga, with adult-use cannabis sales commencing.
• Alberta government streamlines AGLC operations to boost revenue for the cannabis industry.
• IMC says its legal proceedings against Focus Medical Herbs have now been concluded.

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• From Mexico to Chile and Argentina, Latin cannabis brands are gaining traction in the retail market.
• Court orders Brazilian state of Minas Gerais to supply cannabis-based medicines to patients.
• LATAM’s first sustainable house made from industrial hemp has been constructed in Paraguay.
• Benuvia Operations and PharmaCielo partner to produce pharmaceutical-grade APIs for Brazilian market, among others.

• Clever Leaves granted Australian GMP certification for cannabis products by the Therapeutic Goods Administration.
• Cannabis products from Thailand are being sold in neighbouring Laos, where cannabis is still illegal.

• Patients in Israel will now be able to access medical cannabis without it being a ‘last line resort’.
• Progressive shift in legislation as Ghana officially legalises the growing of industrial hemp and medical cannabis.
• Cannabis company Better becomes the first Israeli company to secure ‘organic cannabis’ seal.
• Together Pharma to cancel medical cannabis agreement and sell 50% share of joint venture back to Good Pharm.