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International Cannabis Weekly: 352

June 7, 2024

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THC LIMITS FOR DRIVERS AND CULTIVATION REGULATIONS UPDATED IN GERMANY

The German Bundestag has voted to pass a string of amendments to its landmark cannabis act, just two months after it was officially implemented.

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JAPAN PUBLISHES DETAILS OF PROPOSED THC LIMITS FOR INCOMING CANNABIS MARKET

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ITALIAN HEMP ASSOCIATIONS CALL FOR EU INTERVENTION ON PROPOSED CBD FLOWER BAN

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Europe
  • Cannabis regulation and THC driving limits under scrutiny in Bundestag hearings ahead of important vote.
  • Chill Brands CEO reinstated as directors ousted, plus Voyager sees second deal fall through.
  • The majority of earnings from illicit cannabis sales in the Netherlands (€1.4 billion) remains in the Dutch economy.
  • Recently published data shows significant growth for the medical cannabis market in Poland since 2017.
  • Luxembourg will post a tender for an official medical cannabis supplier this year due to ongoing supply shortages.
  • A new UK task force will set out the country’s first comprehensive strategy for cannabinoid R&D.

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European Cannabis Stocks

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United States
  • Green Thumb Industries confirms recent rumours it has pitched a merger with Boston Brewery.
  • Adult-use cannabis legalisation is set to go to the ballot box for the third time in South Dakota this November.
  • Ohio’s medical cannabis sales fall across the board as the state prepares for its adult-use rollout.
  • Florida governor could become unlikely saviour of the state’s hemp industry as reports say he will veto controversial bill.
  • Adult-use cannabis sales in Illinois were down 2.9% sequentially to US$144.5 million in April this year.
  • New Hampshire House lawmakers offer senators a cannabis legalisation compromise at committee meeting.

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Canada
  • Canopy Growth doubles down on its USA strategy, announcing exercise of Acreage Holdings options.
  • Health Canada issues a recall for cannabis products containing undeclared intoxicating cannabinoid, HHC.
  • Canadian cannabis retail chain Four20 Premium Markets has announced plans to file for bankruptcy.
  • Bill 34 passes in Manitoba, meaning adults will soon be allowed to cultivate up to four plants at home.
  • Village Farms announces it has increased its ownership of Quebec-based Rose LifeScience Inc. to 80%.
  • Just 845 people have been pardoned for cannabis crimes in Canada since 2019, despite the federal forecast being 10,000.

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LATAM & The Caribbean

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APAC
  • Greens pledge to press on with the bill to legalise adult-use cannabis in Australia despite senate committee rejection.
  • Tasmanian Botanics, Kind Medical, and Biortica Agrimed win big at the Cannabiz Awards 2024 in Australia.
  • Investors will ‘lose millions’ if Thailand backtracks on industrial hemp and cannabis, trade group says.
  • Pharma Hemp maintains positive outlook on CBD opportunities in APAC’s beauty market despite regulatory fluctuations.

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Africa & The Middle East
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