Latin America

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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Court rulings, incoming ministers suggest Mexico destined for cannabis legalization

A recent Supreme Court ruling and newly elected government suggest Mexico could soon follow Canada down the road of cannabis legalization. Mexico’s Supreme Court ruled Oct. 31 – for the fifth time since November 2015 – that a total prohibition of recreational marijuana consumption is unconstitutional. By reaching five similar rulings, the Supreme Court crossed […]

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Ecuador inches closer to legal medical cannabis production

A key legislative committee in Ecuador approved comprehensive health reform that could lead to legal cultivation, manufacture and prescribing of medical cannabis in the Latin American country. The measure, Libro II del Código de la Salud, was approved unanimously by the National Assembly’s standing commission on health – a cross-party committee of legislators – and […]

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Is Canada’s marijuana legalization a ‘template’ for the world to follow?

Canada took its first steps into a future of legal cannabis Wednesday, but what that means for prohibition in other countries largely remains to be seen. Will other countries follow Canada’s move toward ending prohibition? What impact will ending prohibition there have on global medical cannabis markets? Canadian Senator Tony Dean believes every country will […]

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Aurora Cannabis to acquire Uruguay-based ICC Labs for CA$290 million

Aurora Cannabis has agreed to acquire Uruguayan marijuana producer ICC Labs in a deal valued at 290 million Canadian dollars ($220 million) and would establish the Alberta-based company as a leader in South America. Reports of the deal surfaced a few weeks ago, though the companies declined to comment at that time. Under the deal, […]

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Argentina medical school’s cannabis course could open MMJ business opportunities

The medical school at Argentina’s Universidad Nacional del Sur – or the National University of the South – will offer a course on the use and prescription of medicinal cannabis to third-year students. The country’s nascent MMJ program – created in 2017 – has been hobbled by a lack of domestic supply, high prices and […]

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Report: Aurora Cannabis in talks to buy Uruguay-based ICC Labs

(This story has been updated from an earlier version.) Alberta-based Aurora Cannabis is reportedly in negotiations to purchase ICC Labs, a licensed integrated cannabis company in Uruguay. In a press release, ICC Labs declined to comment on any specific negotiations that may be ongoing. The deal could be a significant change in a jurisdiction that, […]

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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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Bermuda official signals move toward recreational marijuana legalization

Six months after Bermuda’s Parliament decriminalized small amounts of cannabis, a government official indicated the island nation might further liberalize marijuana use. Michael Weeks, minister of social development, said the cabinet is set to take up a discussion document on drug use in the coming weeks, according to The Royal Gazette newspaper. “Legalization is something that’s […]

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How high is too high? Valuations continue to climb for Canadian cannabis businesses

As more cannabis companies go public and private businesses raise capital at an unprecedented clip, valuations have become a hot topic among industry observers, insiders and investors. That’s especially true in Canada, where a growing number of cannabis firms have fetched multibillion-dollar valuations in the public markets as they’ve hustled to become a top player […]

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