International Cannabis Weekly: 372
October 25, 2024
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THREE OUT OF FOUR U.S. CANNABIS REFORM BILLS EXPECTED TO PASS THIS NOVEMBER
November is set to be a critical month for cannabis legalisation efforts in the U.S., with four states placing key cannabis reforms on the ballot.
EUROPEAN COMMISSION LAUNCHES INVESTIGATION INTO ITALY’S CBD FLOWER BAN
BUDGET AMENDMENT COULD REVIVE FRANCE’S MEDICAL CANNABIS PROGRAMME
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Europe
- Medical cannabis prescriptions in the UK are growing, but millions of potential patients are still missing out.
- First cultivation association in Hamburg receives approval and licence to grow cannabis for personal use by members.
- UK-based medical cannabis firm Glass Pharms signs multimillion-pound deal with Releaf.
- Legislative committee in Ireland calls for cannabis legalisation and decriminalisation of all illicit drugs.
- The decriminalisation of cannabis in Georgia has not increased consumption, new study finds.
- Home Office red tape and bureaucracy in the UK is forcing cannabis investment overseas.
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New Report
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United States
- New York’s illicit cannabis raids challenged in court, this time by the state’s police forces.
- Young U.S. women are consuming more cannabis than men for the first time, according to new data.
- Voters in Kansas and Utah back cannabis legalisation, demonstrating issue’s popularity in red states.
- Delaware governor signs bill allowing banks to provide financial services to cannabis industry.
- Legal campaign to overturn federal cannabis prohibition gets oral arguments date, in ‘great news’ for plaintiffs.
- New poll shows 66% of voters support adult-use cannabis legalisation bid in Florida.
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Canada
- The Manitoba government is extending a temporary moratorium on some new cannabis outlets by more than a year.
- Flora Growth enters US$220 million U.S. cannabis beverage market with new facility.
- Cannabis retailers in Ontario are frustrated by the increasing number of unlicensed stores.
- SNDL completes CA$37 million Nova Cannabis acquisition, strengthening Canadian market position.
- Budtenders’ union representing cannabis retail workers in BC secures contract wins for workers at a Vancouver store.
- First Nations cannabis industry continues to grow after six years of legalisation in Canada.
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LATAM & The Caribbean
- Hypera Pharma receives merger proposal from EMS, potentially creating a pharmaceutical giant in LATAM.
- New regulations for hemp in Argentina as government continues restructure of cannabis and hemp industries.
- Allied Corp expands into Europe hoping to shift perceptions of Colombian cannabis with new Polish supply deal.
- A new cannabis authority is being assembled in the Bahamas, in a bid to kickstart the country’s cannabis industry.
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APAC
- Elixinol Wellness reports strongest quarter since COVID, with customer receipts topping A$4.1 million in Q3.
- ECS Botanics generated revenue of A$5 million in the first quarter of FY25, up 22% on last year.
- Canaccord Genuity upgrades Little Green Pharma to speculative buy, increases price target to £0.21.
- New Zealand’s medical marijuana clinics’ growth sparks profit versus patient care debate, while hemp industry expands.
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Africa & The Middle East
- KwaZulu-Natal municipality in South Africa has moved to harvest its second cannabis produce.
- Unfair dismissal case for cannabis use puts the spotlight on company drug testing policies in South Africa.
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