Uruguay could see the start of an export stream for hemp as early as 2020, after a period of testing has been completed, marking a milestone for Latin American hemp industry.
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Auxly Cannabis closes CA$123 million investment from tobacco giant Imperial Brands
Auxly Cannabis finalized an investment from Imperial Brands worth 123 million Canadian dollars ($92 million), one of the largest investments yet from a tobacco company in the marijuana industry. The British multinational tobacco company picks up a 19.9% stake in British Columbia-based Auxly as part of the deal. In return, Auxly gets licenses for Imperial’s […]
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Canada ‘falling woefully short’ of displacing illicit cannabis market, researcher says
Canada’s regulated cannabis sales accounted for only 14% of total demand by volume in June, according to a new analysis by market researcher TheCannalysts. That’s counter to some estimates that the regulated market “wiped out half the black market” in the first year of legalization, as claimed by the former principal secretary to Prime Minister […]
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Why earnouts matter in cannabis M&A
Earnouts are a common risk-allocation provision in cannabis and hemp mergers and acquisitions used to bridge the business-value gap between a business owner and an acquirer.
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Australian capital legalizes recreational marijuana
Australia’s capital is the first part of the country to legalize recreational marijuana for personal use. The Australian Capital Territory Legislative Assembly voted on Wednesday to legalize possession by adults of up to 50 grams (1.8 ounces) of dried marijuana and cultivation of two marijuana plants beginning Jan. 31. The assembly is the local government […]
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Auxly Cannabis Group partner Sunens closes CA$84M credit facilities with Bank of Montreal
Sunens Farms, a federal cannabis applicant in Leamington, Ontario, closed a nonconvertible debt deal underwritten by the Bank of Montreal (BMO). The 84 million Canadian dollar ($63 million) deal consists of a three-year debt facility for CA$71.5 million and a CA$12.5 million leasing facility. Proceeds will finance equipment and the first phase of the company’s CA$150 million […]
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First commercial medical cannabis export from Latin America sent to Australia
Uruguayan-based Fotmer Life Sciences announced Tuesday that the company has become the first to complete a “commercial export of medical cannabis from Latin America,” sending a shipment to Australia. Only ten kilograms of flowers were shipped in this initial export. The company declined to put a value on the cargo. But Jordan Lewis, Fotmer’s CEO, […]
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Proposed overhaul of Australia’s medical cannabis framework ‘far too slow,’ industry officials say
Executives welcomed recommendations to improve the framework governing Australia’s medical cannabis scheme as a potential breakthrough, but some said the expected implementation of the proposals is “far too slow” for a sector in need of regulatory improvement today. The recommendations – made in a government-commissioned report authored by John McMillan, law professor at Australian National University in […]
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European Commission approves Epidiolex marketing authorization, GW Pharmaceuticals says
The European Commission granted marketing authorization to Epidyolex, the trade name in Europe for Epidiolex, GW Pharmaceuticals announced Monday. In June 2018, the U.S. Food and Drug Administration approved Epidiolex for the treatment of seizures associated with Lennox-Gastaut syndrome (LGS) or Dravet syndrome in patients two years of age and older. The CBD-based medicine was greenlighted in Europe […]
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200 cannabis stores approved by Calgary, more than BC, Ontario & Quebec combined
The number of city-approved cannabis stores in Calgary surpassed 200 this week, while the province has licensed 63 of those to open their doors to customers. The city’s store approvals exceed Ontario, British Columbia and Quebec combined, the three most-populous provinces in the country. Experts say Calgary should be seen as an example for other […]
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Ecuador moves closer to legalize medical cannabis and hemp
Ecuador is one of the few South American countries that still has not legalized medical cannabis nor hemp, but that could change soon. This week, the country’s Congress approved a major reform of the Organic Integral Criminal Code. If given the green light by the executive branch – which has the authority to veto proposed […]
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Mexico has over a month to legalize recreational cannabis, with 10 proposed laws in the mix
With a court-ordered deadline to legalize recreational cannabis in Mexico approaching next month, parliamentarians have no fewer than 10 proposed laws to scrutinize. It is anyone’s guess which one will come out on top. But the clock is ticking, with lawmakers facing a little more than a month to pass legalization legislation. Mexico would become […]
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October Issue
With the rise of adult use cannabis, experts see medical marijuana dominated by two distinct markets.Read the Issue