Latin America Cannabis Industry & Marijuana Business News

Big changes in store for Colombia cannabis regulations, but final rules and timeline uncertain

A draft decree in Colombia is in the works that could substantially modify certain aspects of the current medical cannabis framework. Among other things, the proposed changes would make Colombian medical cannabis companies more competitive internationally by allowing flower to be exported into free trade zones. Another proposal is aimed at making it easier for […]

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Cannabis the most widely used drug globally, UN World Drug Report says 

Marijuana was the most widely used drug around the world in 2017, with an estimated 188 million consumers that year, according to a new report from the United Nations. The 2019 World Drug Report provides an overview of the international supply and demand of cannabis, as well as other drugs. The data also underlines the […]

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Breakthrough in Brazil: Regulators eye domestic cannabis cultivation, creation of product registration plan

Brazil could become the latest country to regulate the domestic cultivation of medical cannabis, according to the government body responsible for regulating marijuana – a move that will have major implications for the industry when the rules take effect. At a public meeting last week, the National Sanitary Surveillance Agency (ANVISA) collegiate directors approved two draft […]

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Cannabis oil firm PharmaCielo to buy Australia’s Creso Pharma for roughly $85M

Toronto-headquartered PharmaCielo agreed to purchase Creso Pharma, an Australian-traded cannabis oil producer, for 122 million Australian dollars ($85 million). PharmaCielo is the parent of PharmaCielo Colombia Holdings, a producer of medical cannabis oils in Colombia. Creso Pharma is a medical cannabis company specializing in the research, development and production of therapeutic, nutraceutical and animal health products, […]

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Northern Swan enlists major Democratic pols to boost Latin American cannabis push

Northern Swan, a New York-based marijuana investment group, installed two senior figures from the Democratic party to its advisory board to help navigate the company’s focus on Latin America. Bloomberg reported that the company appointed Tom Daschle, a former U.S Senate majority leader, and Joe Crowley, a prominent party member who last year lost a high-profile primary […]

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Germany authorizes medical cannabis shipments from Latin America for testing, paving way for future opportunities

The first cannabis shipments from Latin America to Europe have been approved, a move that could lay the groundwork for future business opportunities between the two regions. Cansativa GmbH, a German importer of medical cannabis that currently sources product only from the Netherlands, received a one-time authorization to import samples from Latin America exclusively for […]

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Brazilian cannabis import authorizations top 1,000 in the first quarter of 2019

Brazilian authorities continued to approve permits to import medical cannabis at an increasing rate through the first quarter of 2019. According to data provided to Marijuana Business Daily, Brazil’s National Sanitary Surveillance Agency (ANVISA) granted 884 new authorizations and 170 renewals during the first quarter of 2019 – more than one-third of all the authorizations that were […]

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European cannabis leader Bedrocan to re-enter Canada, South America

Dutch medical marijuana giant Bedrocan International is poised for an early return to Canada and South America after an arbitration tribunal reduced the duration of a moratorium prohibiting the company from those markets. A legal settlement between Bedrocan and Ontario-based Canopy Growth barred the Dutch company from doing business in Canada until Jan. 1, 2020, and in South […]

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Mexico revokes cannabis guidelines, throwing licenses into doubt

(This story has been updated to include a comment from Aurora Cannabis. – Ed.) Mexico’s main regulatory body for medical cannabis revoked key guidelines used as the basis for issuing dozens of import licenses for low-THC products, putting the status of those permits into question, pending a government review. Toward the end of President Enrique Peña Nieto’s […]

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Cannabis group Cansortium raises $56 million-plus ahead of IPO

Miami-based Cansortium, a vertically integrated cannabis operator, said it raised just over $56 million in funds ahead of its initial public offering (IPO). The company will use the net proceeds for continued expansion of its medical cannabis operations in Florida, Michigan, Pennsylvania, Texas, Puerto Rico, Canada and Colombia for repayment of debt and for general […]

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