International Marijuana Business News

Cannabis Council urges Ontario to ramp up number of adult-use stores, citing ‘ample’ marijuana supplies

Canada’s largest cannabis companies are urging Ontario Premier Doug Ford to significantly increase the number of recreational marijuana stores, noting that the province’s retail footprint is “severely challenging” their ability to invest in the new industry. In an open letter to Ford, the Cannabis Council of Canada said there is an ample supply of marijuana […]

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New Beleave CEO VanderMarel eyes profitability, reverse stock split

Cannabis industry veteran Jeanette VanderMarel has taken the reins of licensed producer Beleave and is looking to turn a profit at the Ontario company in the first half of 2020. One of her first acts on the job was approving a resolution for the company’s Dec. 2 annual general meeting to consider consolidating the number […]

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Saskatchewan phasing in ‘open-market system’ for cannabis store permits

The Canadian province of Saskatchewan is following Alberta’s lead in adopting a market-based system to allocate cannabis store permits, a move that will greatly expand the number of retail opportunities available for entrepreneurs. By scrapping the 51-store limit, the province is opening the door to faster growth in the regulated market for adult-use cannabis – […]

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Uruguay selects three new commercial growers of recreational marijuana to meet consumer demand

The Uruguayan government announced the three winning companies chosen to grow recreational marijuana for commercial purposes under an application process that began in February. To meet a shortfall of adult-use cannabis, the Uruguayan Institute for the Regulation and Control of Cannabis (IRCCA) selected: Uruguay Biopharmaceutical Research Co., based in the United States and conditioned to register a company in […]

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Cannabis producer Hexo’s loss surges; cultivation suspended in Niagara

Gatineau, Quebec-based, federally licensed producer Hexo recorded annual and quarterly net losses of 82 million Canadian dollars ($62 million) and CA$57 million, respectively, for the period ending July 31. That’s significantly worse than the same period last year, when the company posted annual and quarterly net losses of CA$23 million and CA$11 million, respectively. In […]

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Mexico to miss deadline to legalize marijuana, including recreational use

Citing “unprecedented” pressure from companies trying to influence Mexico’s cannabis legislation, voting on a bill to completely legalize marijuana – including its recreational use – will be delayed, according to media reports. Ricardo Monreal, president of the Senate’s Political Coordination Board (Jucopo) – a governing body of the chamber – told Milenio the bill “won’t be voted on this […]

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North Macedonia’s medical cannabis overhaul would allow flower exports – but also create entry hurdles

Medical cannabis regulations in North Macedonia – a small but promising market – are likely to undergo significant changes before the end of 2019, allowing the export of flower for the first time but also raising barriers to entry for prospective businesses. The government of Prime Minister Zoran Zaev sent a draft bill to the Parliament […]

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Gibraltar expands medical cannabis market beyond just CBD

Two years after Gibraltar legalized CBD, the tiny British Overseas Territory located on Spain’s south coast widened the range of cannabinoids available in the local market. The move could create limited opportunities for medical marijuana companies looking for an entry point into the European market, Brexit notwithstanding. “The new legislation covers a wider range of products […]

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Week in Review: Mexico moves toward recreational cannabis legalization, vape firm Pax cuts jobs, Northeast govs huddle & more

Mexico prepares to become the most populous nation in the world to legalize adult-use marijuana, vape company Pax cuts 25% of its workforce, governors of Northeast states consider working together to legalize recreational MJ – and more of the week’s top cannabis business news. Mexico prepares to legalize recreational cannabis Mexico’s Senate is ready to receive a […]

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Hexo slashes workforce by 200 amid lower marijuana revenue expectations

Troubled Canadian cannabis company Hexo, which this week postponed the release of financial results amid lower revenue expectations, said it is cutting about 200 jobs across multiple locations and divisions. The cuts represent approximately 20% of the Quebec-based company’s workforce and include the elimination of some executive positions and the departures of Arno Groll, chief […]

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New data reveals top medical conditions for which cannabis is reimbursed in Germany

The German government disclosed the six most-reported diagnoses for which medical cannabis has been prescribed and covered by statutory health insurers (GKV), with pain No. 1 followed by a muscle condition known as spasticity. The data is based on an ongoing government survey involving 6,538 patients, as of September. The information was disclosed in a reply to a […]

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MJBizDaily leadership change: Co-founder Farrington stepping down as CEO; Walsh to take reins

Cassandra Farrington, the co-founder of Marijuana Business Daily, is stepping aside as CEO of the pioneering cannabis publishing and trade show business at the end of the year and will be replaced by the company’s founding editor and president, Chris Walsh. Farrington, who has overseen huge growth at MJBizDaily since its founding in 2011, will transition […]

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