International Cannabis Weekly: 361

ITALIAN HEMP INDUSTRY FIGHTS FOR SURVIVAL AFTER AMENDMENT APPROVED

Italy’s government has approved a controversial amendment to its Security Bill, which, if passed by the Chamber and Senate, would effectively close the country’s hemp industry.

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LANDMARK PHILIPPINES MEDICAL CANNABIS BILL MAY SET STANDARD IN REGION

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U.S. CANNABIS SALES HIT ALL-TIME RECORD OF $32B IN JUNE: KEY DRIVERS REVEALED

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• German trade groups unite against spread of intoxicating hemp substances amid new legal challenges.
• Village Farms delays cannabis trial, citing significant uncertainty and regulatory concerns that could impact project.
• Stenocare get approval for new “innovative” medical cannabis oil product available in Germany in Q4 2024.
• Price of medical cannabis drops by a staggering 50% in Germany with more strains available to patients.
• Hemp, the ‘green gold’ that France hopes will help cut carbon emissions, becoming Europe’s largest producer.
• In Germany, report shows 400% surge in medical cannabis prescriptions post-CanG, with prices halved since 2023.

• Growlink secures strategic investment from Snoop Dogg’s Casa Verde Capital to support cannabis AI capabilities.
• Senate committee blocks D.C. recreational cannabis sales: another lost opportunity for market expansion.
• Verano Holdings expands market reach with launch of adult-use cannabis in Ohio, improving access for consumers.
• Mike Tyson’s new partnership brings premium cannabis offerings to retailers across California.
• In New Hampshire, governor signs laws significantly expanding medical cannabis access for patients.
• Nevis Brands strikes licensing deal to bring Major-branded cannabis beverages to New Jersey, sending shares up 32%.

• Organigram’s nanoemulsion technology transforms cannabis consumption with faster delivery.
• Aurora Cannabis unveils new CBD lozenge in collaboration with strategic partner, expanding product offerings.
• Canadian cannabis retail giant High Tide announces closing of $10.8M subordinated debt facility.
• Health Canada recalls batch of cannabis due to incorrect THC and CBD values on label between May and July 2024.
• Quebec’s ROSE LifeScience, part of Village Farms International, receives research license from Health Canada.
• Nova announces Q2 2024 financial results and leadership transition, with CEO stepping down from Board.

• Workers at Jamaica’s Cannabis Licensing Authority urge auditor investigation into hiring practices and lack of transparency.
• Dominica establishes authority to regulate medicinal use and creating economic opportunities for growers and processors.
• Akras goes live at 3rd Medical Cannabis Fair, connecting with healthcare professionals in Brazil.
• Uruguay divided on cannabis regulation: 38% say it works poorly, while 64% believe it has increased consumption.

• Auckland’s Whakamana Cannabis Museum reopens as NZ’s first legal dispensary and consumption venue.
• Australian medical cannabis firms and farmers aim to leverage relaxed cannabis regulations in Europe.
• Philippine medical cannabis legalization bill could position country as regional leader, promoting economic growth.
• A NSW inquiry considers decriminalising recreational cannabis, while Premier says he “won’t let it happen”.

• IM Cannabis Corp. reports Q2 2024 results and schedules upcoming web conference with investment community.
• Morocco to grant 3,000 legal cannabis farming permits in 2024, expanding agricultural opportunities.