Latin America Cannabis Industry & Marijuana Business News

‘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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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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