International Cannabis Weekly: 370
October 11, 2024
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GERMAN MEDICAL CANNABIS MARKET SET TO REACH €420 MILLION IN 2024 AMID ‘SECOND WAVE’
Germany’s flourishing medical cannabis market is now forecast to top €420m this year, according to the 1st Edition of The German Cannabis Report.
POLAND NEARLY DOUBLES MEDICAL CANNABIS IMPORT LIMITS AS DEMAND SURGES
CALIFORNIA’S CONTROVERSIAL HEMP BAN FACES TEMPORARY RESTRAINING ORDER
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Europe
- Curaleaf’s Boris Jordan expects European business to ‘double’ next year despite market risks.
- A cross-party alliance of German MPs has filed a complaint about Bavaria’s cannabis policy.
- Berlin summit on 26 November set to unite industry leaders to shape Germany’s cannabis future.
- The number of items prescribed in the UK’s private medical cannabis market has doubled each year since 2021.
- CANNAVIGIA prepares software solution for German adult-use cannabis pilot projects, engaging over 25 municipalities.
- The German Cannabis Business Association to host the next International Cannabis Briefing on 15 October.
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United States
- New York City Council hearing addresses Operation Padlock and new regulations targeting unlicensed retailers.
- California-based cannabis delivery giant Eaze collapses, marking the latest high profile closure in the state.
- Missouri regulators request hundreds of thousands in funding to enforce controversial hemp ban.
- Study shows cannabis components like CBG and THCV are promising treatments for Parkinson’s and Alzheimer’s.
- Nebraska medical marijuana initiative sponsors push back against state officials’ signature fraud claims.
- Arkansas Supreme Court orders state officials to count 18,000 more cannabis signatures.
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Canada
- Canopy Growth finalises Wana acquisition, taking on 100% of the company and its subsidiaries.
- TerrAscend withdraws $26 million from its $140 million loan to pay off higher-interest debt it holds in Michigan.
- Cannabis industry in Canada faces scrutiny over its societal impact and the decline of its medical cannabis market.
- Tilray Brands launches Charlotte’s Web ‘CBD Life’ and ‘Rest’ in Ontario and will soon expand to other provinces.
- High Tide opens the 70th Canna Cabana dispensary in Ontario, it’s tenth location in Toronto.
- Mother Labs will reportedly launch a line of branded cannabis flower for the German medical market.
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LATAM & The Caribbean
- Cannabis regulation in Latin America: Heading towards an integrated market or stagnation?
- The Cayman Islands is set to hold a referendum on whether to ease cannabis possession laws.
- US-based MedCana acquires 7 cannabis companies, six of which are based in Colombia.
- Allied Corp signs a 5-year exclusive supply agreement to bring Colombian medical cannabis to Poland.
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APAC
- Elixinol Wellness has signed a binding agreement to acquire premium lifestyle brand The Healthy Chef.
- Pressure grows on Releaf Group in Australia as court cases mount and doctors down tools over unpaid wages.
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Africa & The Middle East
- IM Cannabis announces up to US$1.6 million private placement offering led by management.
- Private cannabis clubs and medical cannabis dispensaries have exploded across all of South Africa’s major metros.
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