International Cannabis Weekly: 367

LEGAL CANNABIS SALES IN NEW YORK COULD SURPASS US$1 BILLION IN 2024

Cannabis retailers reported US$429.9 million in revenue from January through the end of August, a month that saw weekly sales surpass $20 million for the first time.

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FRANCE’S MEDICAL CANNABIS ROLLOUT LIKELY TO BE DELAYED UNTIL 2026

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LEGALISATION IN CZECH REPUBLIC COULD YIELD CZK5.5 BILLION IN SOCIAL BENEFITS

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• Sources in Germany say the long-anticipated ‘Pillar 2’ is in danger of being abandoned.
• Aroya and Cannavigia join forces to deliver Swiss precision cannabis cultivation solutions.
• Celadon raises over £1 million and forms strategic collaboration with Danish pharma firm.
• Flora Growth expands European presence with new strategic supply agreement for medical cannabis.
• Somai Pharmaceuticals launches in Ireland, offering the widest range of cannabis-based medicines to patients.
• A new medical cannabis clinic, Muracanna, has been launched in the UK by The Yardley Clinic.

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• DEA acknowledges legitimacy of new two-part test used to determine a substance’s accepted medical use.
• New York cannabis officials announce US$5 million in community grants funded by cannabis tax revenue.
• Two prominent players in the cannabis finance industry have declared third-quarter dividends nearing US$1 billion.
• Althea Group subsidiary Peak USA begins production of a cannabis beverage line in Florida.
• Mammoth Distribution acquires Papa & Barkley, one of the most established Californian cannabis brands.
• Study finds that national legalisation would likely reduce cannabis prices in higher-cost U.S. markets.

• HYTN secures a deal with 4C Labs to supply medical cannabis to the UK and potentially other global markets.
• Akanda Corp secures hemp cultivation licence in Canada, building on previous development agreement.
• Medipharm Labs announces payment of remaining convertible debt amount, leaving the company debt-free.
• High Tide reports third quarter 2024 financial results featuring record revenue of CA$131.7 million.
• Aurora receives patent that allows the company to better identify autoflowering traits in cannabis plants.
• Health Canada conducted a total of 662 inspections of cannabis licence holders in the year ending March 31, 2024.

• Medical cannabis and industrial hemp gain more ground in the Brazilian agribusiness sector.
• Brazilian state of Mato Grosso do Sul approves distribution of cannabis medicines in the public network.
• Agrogenética Riojana in Argentina completes export of cannabis to Green Brothers in Switzerland.
• Study finds uncommon terpenes and ‘significant phytochemical diversity’ in Colombian-grown cannabis.

• Thailand’s new government introduces a bill to regulate the country’s cannabis industry.
• Japan is set to criminalise adult-use cannabis and legalise medical use of the plant.
• Tilray Medical launches its EU-GMP certified cannabis brand, Redecan, in Australia.
• The Cannabis Clinic in New Zealand is rolling out an assisted telehealth model next month.

• Market analysis by the Africa Hemp Fund says the hemp industry on the continent could reach US$2.4 billion.
• South Africa issues 1,110 permits for hemp cultivation following the approval of the Cannabis for Private Purposes Bill.