Latin America

Canopy Growth acquires Colombian medical marijuana firm, expands in Latin America

Canopy Growth on Thursday unveiled a multimillion-dollar plan to enter the Latin America medical cannabis market. The Smiths Falls, Ontario-based firm has launched a new subsidiary, Canopy LATAM Corp., which acquired Spectrum Cannabis Colombia S.A.S for $34.8 million (CA$4.6 million) in Canopy stock. The deal has built-in performance milestones that, if met, would give the […]

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Colombia’s first Canadian stock listing could lure capital to medical marijuana

With a potential patient count more than double Canada’s, Colombia’s medical marijuana market is quickly gaining recognition as a legitimate force in the global cannabis industry. The total market for patients with qualifying conditions in Colombia exceeds 5.5 million people, according to QuantilesIMS, a U.S.-based market analytics company. The country, which has long been known […]

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Colombian marijuana companies seek first listings on Canadian exchange

As interest in Latin America’s medical marijuana industry grows, a major stock exchange in Canada could soon see the first listings from companies with their core operations in Colombia. Khiron Life Sciences CEO Alvaro F. Torres told Marijuana Business Daily the company expects to complete the regulatory paperwork in time to start trading as early […]

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Report: Uruguay is home to nearly 35,000 authorized rec cannabis users

The number of people authorized to access recreational marijuana in Uruguay is closing in on 35,000, according to a report by the Institute of Regulation and Control of Cannabis. However, the Uruguayan regulatory agency’s study notes that the number of people accessing marijuana through regulated channels is much higher due to the “sharing” of products […]

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Cannabis testing lab operator Steep Hill expands to Mexico, six European markets

California-based Steep Hill Labs, a prominent cannabis testing lab, has announced plans to expand operations to Mexico and six western European markets, further broadening the company’s global footprint. This is yet another example of a company using its Canadian presence to springboard into the growing international cannabis market. According to a news release, the licensee for Steep […]

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Mexico’s tourism minister calls for marijuana legalization

Months before Mexicans head to the polls to elect a new government, a senior official is calling for states to begin legalizing cannabis as a way to divert profits from the black market to a regulated sector. “I think in Mexico we should move toward regulating it at state level,” Tourism Minister Enrique de la Madrid […]

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Panama advances import-only medical marijuana law

After months of public discussion on a law to authorize and regulate medical cannabis in Panama, a draft bill has been advanced by a key parliamentary committee. Members of the Labor, Health and Social Development Committee voted Tuesday to move the bill forward but to also strip the measure of domestic cultivation. That means Panama’s […]

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Global spending on legal cannabis to hit $57 billion by 2027, report says

Worldwide spending on legal cannabis is forecast to reach $57 billion by 2027, led by growth in North America and Europe, according to a new report by Arcview Market Research and BDS Analytics. North America will continue to see the most spending on legal cannabis, rising from $9.2 billion in 2017 to $47.3 billion in […]

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