International Cannabis Weekly: 348

UK’S MEDICAL CANNABIS BOOM: PATIENTS, DEMAND & CONSUMPTION SURGE TO ALL-TIME HIGHS

Sales of medical cannabis in the UK have been greater than expected due to ‘unusually high’ consumption volumes on a per-patient basis.

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216,000 CANNABIS CONVICTIONS REVIEWED IN GERMANY ALREADY

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U.S. STATES AMASS US$4.2 BILLION IN CANNABIS TAX REVENUE IN 2023

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• Medical cannabis could finally be on a new high in Europe as the industry ‘turns a corner’.
• Progress for UK CBD industry as FSA issues first positive safety assessments in novel food process.
• Synbiotic acquires German wholesaler Weeco as Clever Leaves & OCT reveal plans to delist from public markets.
• MPs in the Czech Republic agree to allow the sale of HHC, kratom and low-THC cannabis products. 
• Luxembourg maintains strict THC limit for motorists despite pressure from politicians.
• German Cancer Research Center provides information about therapeutic uses of cannabis-based medicines.

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• DEA administrator allegedly absent from cannabis rescheduling decision ‘did not sign’ the rescheduling order.
• New York Mayor leads effort to shut down illegal cannabis sales in the city’s neighbourhoods.
• Canopy Growth confirms Canopy USA’s exercise of options to acquire Wana and Jetty.
• High Times puts its assets up for sale as it scrambles to gather enough cash to pay its creditors.
• Most Americans who have tried cannabis or psychedelics had ‘positive’ experiences, survey finds.
• South Dakota cannabis activists turn in signatures to put legalisation on the November ballot.

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• Medical cannabis exports from Canada jump to CA$220 million as domestic sales fall.
• Canadian cannabis company Cronos expands into the UK after setting up in Germany’s nascent market.
• Canadabis Capital expands into the European cannabis market through a distribution agreement.
• Canadian giant SNDL speeds up acquisition of majority positions in two US cannabis companies.
• Village Farms reports new record in Q1 2024 with cannabis sales increasing 49% year-over-year to CA$37.4 million. 
• The Ontario Cannabis Store (OCS) has plans to soon allow cannabis farmgate stores to sell cannabis products. 

• Colombian cannabis company Sannabis ships its first cannabis essential oil to the U.S.
• The new mayor of Panama City is in favour of a progressive approach to cannabis policy reform.

• Thai PM says cannabis will be re-listed as a narcotic by end of 2024 and therefore recriminalised.
• Aurora marks first shipment of its medical cannabis products to the New Zealand market.
• Australian industry heavyweights Montu and Cannatrek strike new distribution deal.
• MedReleaf and Aurora Cannabis launch new range of dried cannabis flower products in Australia.

• Cannabis farmers in Morocco are pushing for adult-use cannabis legalisation in the country.
• Medigrow launches the Eastern Cape’s biggest medicinal cannabis project yet with new indoor facility.