International Cannabis Weekly: 349

BIDEN CONFIRMS CANNABIS WILL BE RESCHEDULED FROM A SCHEDULE I TO A SCHEDULE III SUBSTANCE

This ‘tectonic shift’ in policy has been widely expected since April 30 when reports surfaced that the Drug Enforcement Administration (DEA) would support the move.

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HEAD OF NEW YORK’S OCM FORCED TO RESIGN OVER ADULT-USE ROLLOUT

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GERMAN MINISTER SIGNALS END OF ‘SENSELESS’ INTOXICATION CLAUSE

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• Czech Republic’s revolutionary legislation to regulate psychoactive substances such as HHC clears first hurdle.
• Zurich Executive Summit: Unveiling the future of cannabis pharmaceutical collaboration.
• Oxford Cannabinoid Technologies delisting from the London Stock Exchange (LSE) may not be the last.
• SOMAÍ to exclusively cultivate, manufacture and distribute Cookies products in Europe via partners.
• Celadon Pharmaceuticals releases full-year 2023 results, with revenues over three times greater than 2022.
• Medical cannabis improves quality of life in MS and osteoarthritis, latest UK research suggests.

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• Wisconsin governor is hopeful cannabis will be legalised if Democrats win control with new competitive election maps.
• Nebraska medical cannabis ballot campaign meets key requirement, with valid petitions from 5% of voters.
• Cresco Labs races to meet Ohio’s adult-use cannabis demand amid supply chain concerns.
• House Committee proposes ending cannabis consumption testing for military recruits in defence bill.
• Florida cannabis campaign releases four ads to build support for legalisation ballot initiative amid underwhelming polls.
• U.S. congressional researchers have stated that it ‘appears likely’ the DEA will reschedule cannabis.

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• Organigram reports a boost in revenues across recreational operations, but sees significant decline in profits.
• SNDL reports first profitable quarter for cannabis production, but increases losses for retail.
• Canadian cannabis extractor Motif Labs’ eyes US market as CEO outlines future vision for the company.
• SNDL and Nova Cannabis complete the assignment of Dutch Love stores to Nova Cannabis.
• Health Canada recalls an Organigram dried flower product due to incorrect labelling of THC content.
• Canadian cannabis stocks rally as U.S. takes another step toward rescheduling cannabis. 

• Only 14.6 out of 9,977 hectares that are licensed for cultivation of cannabis in Colombia are being used.
• Anvisa approves a report assessing the regulatory landscape for medical cannabis in Brazil.
• The Brazilian government is set to allocate millions to various drug policy programmes.
• Colombian government to spend five billion Colombian pesos (US$1.3 million) on promoting cannabis production.

• Cann Group has secured an additional AU$5 million in debt funding and reissued its half-year results.
• Thai cannabis groups urge government to rethink its plan to re-criminalise cannabis this year.
• Pakistan will turn to medical cannabis and hemp to fuel growth in the midst of economic woes.
• Avecho doses first patient in phase III clinical trial testing an oral CBD soft-gel capsule for insomnia.

• Envisaging challenges for the emerging medical cannabis market and patients in Lesotho. 
• Legalising cannabis in Malawi will boost the economy as tobacco farms dwindle, reports suggest.