International Cannabis Weekly: 353

OVERSUPPLY IN CANADA: 53.7 MILLION UNSOLD CANNABIS PRODUCTS IN DECEMBER 2023

New data from Health Canada shows Q4 inventory-to-retail sales ratios are disproportionate for all product categories.

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3 MORE U.S. STATES COULD SEE CANNABIS LEGALISATION ON NOVEMBER BALLOTS

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FIRST DOMESTICALLY-GROWN MEDICAL CANNABIS NOW AVAILABLE TO UK PATIENTS

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• Bloomwell Group unites brands and operations to form Germany’s largest digital platform for medical cannabis.
• Slovenian voters approve non-binding cannabis legalisation in landmark referendum.
• Struggling UK CBD company Chill Brands Group has suspended trading of its shares amid board clash.
• 276,807 medical cannabis prescriptions were issued in Poland last year, compared to just 2,909 in 2019.
• Danish medical cannabis manufacturer Stenocare has launched a new ‘next generation’ cannabis oil.
• Tikun Olam Europe: First company to develop finished medical cannabis products under prescription in Greece.

• New York bill to relaunch cannabis farmers markets heads to governor’s desk.
• California senators approve bill to legalise cannabis cafes where people could smoke, eat food and socialise.
• White House opposes a proposal to end cannabis testing for military recruits, calling cannabis a ‘safety concern’.
• Adult-use cannabis sales could begin this summer on lands held by Cherokee Indians in North Carolina.
• New state law in Washington means medical cannabis users can get a break from the highest tax on the drug.
• Innovative Industrial Properties buys industrial space in Florida with eye on cannabis cultivation.

• Canadian government proposes amendments to federal cannabis regulations, to ease industry burden.
• Canopy Growth establishes US$250 million at-the-market program to enhance its financial position.
• A new study has found inaccurate labelling of THC and CBD levels on some cannabis oils in Ontario.
• Société Québécoise Du Cannabis (SQDC) reports strong financial performance.
• Regulatory relaxation means Alberta cannabis stores can now develop their own private label products.
• BLAZE-owned Greenline announces launch of its new payment processing platform, BLAZEPAY™.

• Argentine cannabis company Botanicanns’ targets European market after receiving international certification.
• Supporters of the Brazilian Association to Support the Cultivation of Medicinal Cannabis (Save) freed from prison.
• Alagoas State Health Department in Brazil announces formation of new medical cannabis working group.
• Medcann Pharma exports micropropagated cannabis clones from Colombia to Europe.

• Legalise Cannabis MP vows to continue fighting for cannabis reform in Australia after government rejects bill.
• Japan launches public comment period for its proposed cannabis reform measures.
• Althea aims for positive earnings after restructure and leap into the U.S. cannabis beverage market.
• Curaleaf International executive discusses expansion into new markets in Australia, New Zealand and Israel.

• Speculation is rife about which other countries in Africa could follow South Africa’s decision to legalise cannabis use.
• Cannabis extracts reduce ‘disease burden’ for Israeli medical cannabis patients suffering with chronic pain.