International Cannabis Weekly: 363

CANNABIS SOCIAL CLUB APPLICATIONS IN GERMANY SURGE 250%

Despite the rapid increase in applications, only eight permits in a single federal state have been granted, as the level of bureaucracy and lack of a clear framework begin to frustrate would-be associations.

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UKRAINE LEGALISES MEDICAL CANNABIS, BUT PTSD OMITTED FROM CONDITIONS LIST

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CANNABIS SALES IN MAJORITY OF U.S. STATES JUMPED IN JULY 2024

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• EC could save Italy’s hemp industry, Poland clamps down on prescriptions and Norway launches legalisation initiative.
• Maltese cannabis authority head says the country’s harm-reduction approach to cannabis is working.
• New study points to benefits of cannabis for reducing opioid use and symptoms of withdrawal.
• SynBiotic hails sales growth post-CanG, Stenocare halves sales forecast for 2024, Argent Bio delists from ASX.
• Sanity Group to launch rapper Wiz Khalifa’s ‘Khalifa Kush’ brand in Europe for the first time.
• Calls for laws on CBD products to be tightened in Guernsey so products can’t be purchased by under-18s.

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• Ohio retailers sold US$22.5 million worth of recreational marijuana in first 11 days of legal sales.
• As crime surges, D.C. legal cannabis operators struggle against unchecked illicit market.
• Cannabis policy reform gains ground in key U.S. swing states ahead of 2024 election.
• NYC’s crackdown on unlicensed cannabis stores could be undermined by flurry of legal cases following ruling.
• GOP senator says cannabis should be taxed and licensed businesses should get access to the banking system.
• Illinois governor promotes cannabis legalisation with billboards near Democratic convention in Chicago.

• Canopy Growth CEO, David Klein, is set to retire at the end of the company’s fiscal year.
• Ron DeSantis slams Trulieve’s ‘Canadian’ ties in his battle against cannabis legalisation in the U.S.
• Canada’s wholesale cannabis market is ‘shifting from buyers to sellers’ as oversupply issues ease.
• Tilray purchases another U.S. craft brewery as part of plan to become North American craft beer powerhouse.
• AgriScience Program provides CA$600,000 in grants to develop minor cannabinoids in Canada’s hemp crops.
• Police in Ontario close at least two Indigenous-owned cannabis stores as part of an enforcement action.

• New data from the Ministry of Economy shows the progress of Argentina’s cannabis industry in different regions.
• Founder of Ultrafarma becomes president of the Brazilian Association of Medicinal Cannabis.
• Changes in the national registry face objections from NGOs in Argentina as they call for adult-use legalisation.
• PharmaCielo Colombia Holdings S.A.S. announces financial results for the second quarter ended June 30, 2024.

• Cannabis prices in Thailand drop amid legal amid oversupply issues and regulatory uncertainty.
• Australian company Wellnex launches medicinal cannabis brand and appoints two new medical advisors.
• Chairman of Althea, Andrew Newbold, will step down next week after six years with the company.
• Epsilon announces new company secretary and eyes lifting of ASX trading suspension.

• Moroccan king Mohammed VI pardons almost 5,000 people wanted or convicted of illegal cannabis cultivation.
• Cannabis cultivation and distribution looks set to play a key role in Nigeria’s economic revival.