Latin America

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 […]

Read More

Canadian medical cannabis exports tripled last year, as race for European market position intensifies

Exports of medical cannabis from Canada soared last year as the country’s biggest licensed cannabis companies continued to establish beachheads in new medical markets overseas. Shipments of dried cannabis tripled to 1,460 kilograms (3,219 pounds) in 2018, compared with 500 kilograms in 2017 and only 44 kilograms in 2016. Exports of medical cannabis oil doubled […]

Read More

INCB Report: Certain medical cannabis programs violate international drug control treaties

Only a month after the World Health Organization recommended a less-stringent scheduling of cannabis, the United Nations International Narcotics Control Board (INCB) declared that recreational marijuana programs and several medical programs are “contrary to the international drug control treaties.” The INCB’s 2018 annual report could be a step back for those expecting meaningful reform at an international […]

Read More

UN Commission on Narcotic Drugs delays vote on WHO cannabis recommendations

The United Nations Commission on Narcotic Drugs (CND) will not vote on the World Health Organization’s cannabis recommendations at its March session in Vienna. That news comes after the release of the recommendations, which had been expected in December, was delayed. The proposal, made by the World Health Organization’s Expert Committee on Drug Dependence, could have […]

Read More

Another Caribbean nation to legalize medical cannabis, decriminalize adult use

After 15 months of public consultation, Saint Kitts and Nevis is ready to follow regional neighbors in developing a medical cannabis industry. In a statement to the National Assembly, Prime Minister Timothy Harris said the government will present necessary bills to facilitate the country’s new public policy direction on cannabis. The move comes after his […]

Read More

Peru lays groundwork for commercial medical cannabis production, sales

More than one year after Peru legalized medical cannabis, the South American country published a regulatory decree providing clarity about how the program will work, including possible cultivation and manufacture of high-THC cannabis by private companies. Details on the breadth of commercial activity that will be allowed remain vague, however. The decree, published Saturday, estimates that […]

Read More

Legal recreational marijuana diverts $22 million from Uruguay’s black market

Despite supply challenges that have limited access, Uruguay has diverted roughly $22 million of cannabis sales away from the illicit sector and into the regulated market, according to a recent report by the country’s cannabis regulatory agency. Under the South American country’s policy – implementation has been slow since its 2013 passage – adult residents have three […]

Read More

Colombia’s first-ever export of medical cannabis set to ship to Canada

A Colombian marijuana company has received authorization to export product to Canada for testing, a move meant to show that the cannabis grown in the South American nation is “top quality.” Ecomedics S.A.S., which operates as Clever Leaves and is backed by U.S.-based investment firm Northern Swan, has obtained all the necessary approvals to, for […]

Read More

Though a ‘positive step,’ WHO recommendations on cannabis fall short for some

The World Health Organization (WHO) made great strides in its recommendations on how cannabis should be scheduled, but the global industry believes there’s more work to be done. Martin Jelsma, drugs and democracy program director, at the Netherlands-based Transnational Institute, emphasized to Marijuana Business Daily that there are “very positive elements in the WHO recommendations,” including: Recognition […]

Read More