Latin America Cannabis Industry & Marijuana Business News

Medical marijuana firm Khiron expands in South America with CA$13.7M acquisition

Khiron Life Sciences, an integrated medical cannabis company with core operations in Colombia, has agreed to buy Uruguay’s NettaGrowth International in a deal valued at 13.7 million Canadian dollars ($10.3 million). NettaGrowth is in the process of completing its acquisition of Dormul, which secured a cannabis cultivation license in Uruguay with capacity up to 120 metric […]

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Cannabis firms in M&A hunt look beyond Canada for growth

Canadian medical cannabis companies are increasingly looking internationally for acquisitions to tap growth while consolidation in the country’s marijuana sector continues to steam ahead. Last year, 140 U.S. cannabis companies were targets of mergers and acquisitions, a substantial increase over 2017’s 86, according to data compiled by Viridian Capital Advisors and shared with Marijuana Business […]

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US Virgin Islands enacts medical cannabis law, opens tourism business avenues

U.S. Virgin Islands Gov. Albert Bryan Jr. has given a new medical marijuana law his stamp of approval, making the territory the latest Caribbean jurisdiction to open its doors to cannabis businesses and potential new tourism opportunities. The move has been years in the making, with voters having favored medical cannabis in a 2014 referendum. Read […]

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Steady growth in medical marijuana demand taxes Brazil’s import structure

The medical cannabis structure that requires patients in Brazil to get individual authorizations to import their MMJ products is “insufficient” to meet growing demand in the country, according to a former sanitary surveillance agency director. The continuous increase of individual authorizations to import medical cannabis could force Agencia Nacional de Vigilancia Sanitaria (ANVISA) to make […]

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Medicine Man agrees to acquire cannabis research firm MedPharm

Medicine Man Technologies, a Denver-based consulting, intellectual property (IP) licensing and products company for the cannabis industry, announced its intent to acquire MedPharm Holdings, an IP development and holding company focused on cannabis research and product development. Financial details of the deal were not disclosed. Medicine Man told Marijuana Business Daily that it would speak more […]

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Canadian marijuana companies raised landmark CA$12 billion in 2018

Marijuana firms in Canada raised a record 11.96 billion Canadian dollars ($9 billion) last year as they prepared to meet demand in the new adult-use market and grow their medical operations globally. That represents a 150% increase over 2017, when Canadian companies raised CA$4.7 billion, according to data compiled by Viridian Capital Advisors and shared […]

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‘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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