Latin America

Steady growth in medical marijuana demand taxes Brazil’s import structure

The medical cannabis structure that requires patients in Brazil to get individual authorizations to import their MMJ products is “insufficient” to meet growing demand in the country, according to a former sanitary surveillance agency director. The continuous increase of individual authorizations to import medical cannabis could force Agencia Nacional de Vigilancia Sanitaria (ANVISA) to make […]

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Medicine Man agrees to acquire cannabis research firm MedPharm

Medicine Man Technologies, a Denver-based consulting, intellectual property (IP) licensing and products company for the cannabis industry, announced its intent to acquire MedPharm Holdings, an IP development and holding company focused on cannabis research and product development. Financial details of the deal were not disclosed. Medicine Man told Marijuana Business Daily that it would speak more […]

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Canadian marijuana companies raised landmark CA$12 billion in 2018

Marijuana firms in Canada raised a record 11.96 billion Canadian dollars ($9 billion) last year as they prepared to meet demand in the new adult-use market and grow their medical operations globally. That represents a 150% increase over 2017, when Canadian companies raised CA$4.7 billion, according to data compiled by Viridian Capital Advisors and shared […]

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‘Investors smell opportunity’: Bermuda courts cannabis industry

Bermuda is lifting a regulatory ban on marijuana investment funds, a move that could grow the pool of international capital available for the legal cannabis industry and blaze a trail for other offshore financial centers. It is part of the British island territory’s plan to court the medical marijuana industry – both investment funds and cultivation […]

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Uruguayan government announces new application process for recreational cannabis cultivation

Four years after Uruguay became the first nation in the world to legalize recreational cannabis, officials announced that a call for applications to grow nonmedical marijuana for commercial purposes will go out Feb. 11, 2019. Uruguay currently has two growers, and this round could add up to five additional licensed producers (LP). Supply issues have […]

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Key UN summit could lead to international rescheduling of cannabis

A crucial milestone for the global industry could be achieved this week, as the World Health Organization (WHO) presents its findings on cannabis to the Commission on Narcotic Drugs (CND) in Vienna. The CND reconvened its 61st session on Dec. 5. The WHO’s Expert Committee on Drug Dependence (ECDD) held meetings in June and November dedicated to pre-review and review […]

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Aphria fallout: 5 takeaways on the report that sent this cannabis stock plunging

The blows to Aphria’s stock continued Wednesday as the Canadian cannabis giant’s share price tumbled in the wake of a scathing short-seller report. Aphria’s stock (Nasdaq: APHA) closed Wednesday at $4.51 – down more than 25% for the day. The company has been on the defensive since Monday, refuting claims lobbed by short sellers Quintessential […]

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Brazil looks to home grows to expand medical marijuana access, but is it enough?

Brazil’s Committee of Social Affairs (Comissao de Assuntos Sociais) of the Senate approved a bill this week that would legalize home growing of medical marijuana – a move that highlights the need for better and more affordable access to MMJ products in the South American country. Only patients, patients associations or relatives would be authorized to grow […]

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Mexico approves nation’s first 38 over-the-counter cannabis products

For the first time, Mexico authorities approved cannabis-derived products for sale without prescription in the Latin American nation. Thirty-eight cannabis products authorized by the Mexican Federal Commission for the Protection Against Sanitary Risks (COFEPRIS) are expected to be available through retail and online channels within a month. Seven companies – four from Mexico, two from the United […]

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Smooth ride expected for Mexico’s cannabis legislation, experts say

Mexico’s move to legalize medical and recreational marijuana could create a market “at least three times larger” than Colombia’s, according to industry executives and analysts, who do not expect the proposed law to see significant resistance from lawmakers. Olga Sanchez Cordero, who will serve as interior minister in the incoming president’s cabinet, last week filed […]

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Tips for success in Uruguay’s blossoming cannabis industry

One year ago, Uruguay’s cannabis industry was still working on implementing new regulations. Today, 17 companies have been licensed in some form and roughly 20 more have projects under government analysis. If all the projects are approved, industry investment could total $80 million, Martin Rodriguez, executive director of the Institute for the Regulation and Control […]

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