International Marijuana Business News

Demand high for Saskatchewan’s 51 retail marijuana licenses

Interest in Saskatchewan’s recreational marijuana market is booming. The province received over 1,500 submissions for 51 licenses to sell recreational cannabis in the province when it becomes legal. The licenses will be doled out via a lottery after an initial screening. Saskatchewan’s business-friendly framework for recreational cannabis sales calls for the establishment of 51 privately owned […]

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After decriminalizing cannabis, Antigua preps full legalization

One month after decriminalizing cannabis, the tiny Caribbean nation of Antigua and Barbuda is drafting legislation to legalize recreational and medical marijuana sales. The Misuse of Drugs (Amendment) Act, 2018, published in the Official Gazette on March 5, amends the Misuse of Drugs Act to state that “a person who is in possession of a maximum […]

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Jamaica’s central bank asked to solve cannabis banking issues

Jamaica has asked its central bank to find a solution to banking issues that are tripping up development of the country’s medical cannabis industry. Daryl Vaz, minister without portfolio in the Ministry of Economic Growth and Job Creation, said the government considers medical cannabis a potential catalyst for the country’s struggling economy, the Jamaica Observer […]

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Aurora to build Alberta marijuana production facility with eye on exports

One of Canada’s top licensed producers unveiled plans for its largest cultivation facility, with a “significant proportion” of the new production slated to address a “massive” supply shortfall for medical cannabis overseas. Aurora Cannabis plans to build the 1.2-million-square-foot facility in Medicine Hat, Alberta, to take advantage of the “sunniest city in Canada” and save […]

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Mexico’s tourism minister calls for marijuana legalization

Months before Mexicans head to the polls to elect a new government, a senior official is calling for states to begin legalizing cannabis as a way to divert profits from the black market to a regulated sector. “I think in Mexico we should move toward regulating it at state level,” Tourism Minister Enrique de la Madrid […]

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Canopy doubles Canadian cannabis production capacity, makes Czech acquisition

Ontario-based Canopy Growth continued its aggressive expansion, both domestically and internationally, further cementing its position as a leader in the global cannabis industry. Gearing up to meet rising demand for medical cannabis and national legalization later this year, Canopy is nearly halfway to its goal of 5.6 million square feet of licensed production capacity in […]

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Canada’s cannabis oil exports rise 300%, boosted by German demand

Exports of medical cannabis oil from Canada had a breakout year in 2017 – and executives say it is just the start for a massive new overseas market.

Medical cannabis exports in oil form rose 300% from 2016 levels, according to data shared with Marijuana Business Daily by Health Canada. Analysts expect this trend to continue as countries legalizing medical cannabis look to imports to meet demand in lieu of domestic cultivation.

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Guam’s medical cannabis program on hold as it awaits testing lab applicants

No one has applied for a license to set up an independent medical marijuana testing laboratory in Guam, nearly two months after Gov. Eddie Calvo signed into law a bill implementing the rules for an MMJ program, a high-ranking official said. According to the Pacific Daily News, the U.S. territory’s medical cannabis program can’t start without a […]

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Senators take aim at homegrown cannabis in Canadian legalization bill

Conservative senators are taking issue with a provision of Canada’s marijuana legalization bill that allows recreational cannabis to be grown in residences, with some calling for the measure to be purged from the pending law. Removing the homegrown-cannabis provision would be a blow to companies gearing up to capitalize on the niche market – from sales […]

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Malta legalizes marijuana prescriptions; production law nears approval

Malta recently became the latest country to legalize medical cannabis prescriptions, and a separate law to permit production is within months of final approval. The Drug Dependence Bill received approval from of the House of Representatives on March 6 and was signed into law by President Marie-Louise Coleiro Preca on March 9. The legislation does […]

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Canadian analysts eye ‘catalysts’ to reverse cannabis stock freefall

Canadian cannabis stocks are down over 40% since peaking in early January, leading analysts to speculate about what might ultimately trigger a rebound. The Canadian Marijuana Index, a basket of the leading cannabis stocks operating in Canada, is 40% off its peak, or a loss of nearly 15 billion Canadian dollars ($12 billion) in market […]

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