Asia & Oceania

Medical marijuana firm raises $15M ahead of Australian Stock Exchange listing

An Australian medical marijuana company raised $20 million Australian dollars ($14.6 million) in its initial public offering and will begin trading Friday on the Australian Stock Exchange. Melbourne-based Althea Group will use the proceeds to fund a cannabis production facility, the Australian Associated Press reported. The company sold its shares for 20 Australian cents apiece, giving […]

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New Zealand grants first medical cannabis business license

New Zealand’s health ministry has given a private company permission to cultivate medical cannabis – representing a first in the country and a milestone for the industry. Manu Caddie, CEO of Hikurangi Cannabis Co., said the MMJ industry in New Zealand is in store for significant growth, according to the New Zealand Herald. The first […]

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Australia sees significant increase in medical cannabis patient count

The streamlined processes for medical marijuana applications in Australia’s most populous state is starting to produce positive results, although patient access remains “appalling” across the country, according to at least one elected official.
Data shared with Marijuana Business Daily by the New South Wales health regulator shows that 322 applications for medical marijuana have been approved since the state made it easier for doctors to prescribe cannabis in March.

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‘Global paradigm shift’: International cannabis business opportunities will accelerate

Hours after Constellation Brands announced its marijuana-industry-record investment of 5 billion Canadian  dollars ($3.8 billion) in Canada’s Canopy Growth, experts told cannabis entrepreneurs and investors at MJBizConINT’L in Toronto on Wednesday that global cannabis business opportunities will rapidly accelerate. The move by Constellation – which owns, distributes and markets 100 beer, wine and spirits brands, including Corona and Robert […]

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Multibillion-dollar marijuana industry takes the stage at MJBizConINT’L

There is no end in sight to business opportunities in the multibillion-dollar international cannabis industry, experts said Tuesday as the inaugural MJBizConINT’L kicked off in Toronto. More than 2,000 marijuana entrepreneurs and investors from 31 countries are gathering for the three-day, international-focused conference to explore strategies that include: Tapping into international investment capital. Building a global cannabis […]

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‘Breakthrough’ in South Korea as cannabis law gets major backer

A move to legalize medical marijuana in South Korea picked up a key backer, increasing its chances of approval by the end of this year. South Korea would be the only country in Asia, besides Israel, to approve medical cannabis for qualifying patients, which would mark a significant milestone in the global medical cannabis industry. India […]

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New Zealand voters soon will weigh in on cannabis legalization

A measure to legalize recreational cannabis will be on the ballot in New Zealand in 2019 or 2020, a government official said this week. Lawmakers are deciding whether to hold a stand-alone referendum next year or concurrently with the country’s elections in 2020, according to Radio New Zealand.

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Thailand set to unveil medical cannabis law

A draft law to greatly expand medical cannabis regulations in Thailand is expected to be unveiled this week, a move that executives say will open the door to potentially millions of dollars in investments. In the works since last year, the draft narcotics code will permit medical marijuana research on humans. The law will first […]

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How India can become a global cannabis leader: Q&A with Bombay Hemp’s Avnish Pandya

India’s medical marijuana industry will blossom if companies use science to convince regulators that MMJ is an effective medicine. That’s the view of the country’s only licensed medical cannabis cultivator. Avnish Pandya, co-founder of Bombay Hemp Company, said the best way to develop India’s medical marijuana industry is for companies to work with regulators to […]

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Medical cannabis bill advances in South Korea

A revised law to permit the use of medical marijuana in South Korea is scheduled for review by key lawmakers in the Legislative Welfare Committee later this month, the first real test for the bill since its introduction in the legislature two months ago. It has been in committee review since February and still faces […]

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