Middle East

‘Global paradigm shift’: International cannabis business opportunities will accelerate

Hours after Constellation Brands announced its marijuana-industry-record investment of 5 billion Canadian  dollars ($3.8 billion) in Canada’s Canopy Growth, experts told cannabis entrepreneurs and investors at MJBizConINT’L in Toronto on Wednesday that global cannabis business opportunities will rapidly accelerate. The move by Constellation – which owns, distributes and markets 100 beer, wine and spirits brands, including Corona and Robert […]

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Lebanon weighs medical cannabis laws as Israel drags feet

While cannabis companies in Israel await export approval, neighboring Lebanon is reportedly considering turning to MMJ to improve its economy. Global consulting firm McKinsey & Co. recommended legalizing medical cannabis to Lebanon’s cabinet earlier this month, among other proposals. The move could add up to $1 billion to the country’s economy, Economy and Trade Minister […]

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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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Israeli cannabis exports now in prime minister’s hands; Trump pressure denied

A key Israeli parliamentary committee came to a consensus on the urgent need to approve medical cannabis exports – which insiders consider crucial for the creation of a sustainable MMJ industry – and vowed Monday to push for a quick resolution. That clears an important hurdle for the issuance of export permits, putting the ball […]

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Marijuana industry goes to court to force Israeli government to permit MMJ exports

The marijuana industry is fighting a high-stakes court battle to force the Israeli government to approve medical cannabis exports sooner rather than later. The decision by industry advocates to go to court comes as Israeli lawmakers prepare to debate the country’s medical cannabis export policy on Monday. The outcome is huge for dozens of international […]

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Israel hits pause on medical marijuana exports; Cronos exec not concerned 

Israel Prime Minister Benjamin Netanyahu has suspended reforms on plans to allow cannabis growers to export their product due to concerns that MMJ could find its way to the black market. One Canadian company that expanded to Israel last year, Stayner, Ontario-based Cronos Group, said the regulatory delay doesn’t change its strategy, and the licensed producer still aims […]

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‘Launchpad to Asia’: Cronos pulls veil off Australian joint venture

Cronos Group unveiled its Australian joint venture and the first phase of a 10-million-Australian-dollar ($8 million) production facility, the latest move by a Canadian company to carve out opportunities to meet demand Down Under and position itself to capitalize on future possibilities in Asia. It’s the first Canadian company to help build a medical cannabis company in Australia […]

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Israeli medical cannabis company partners with DC cultivator

A medical marijuana company in Israel that already has a business presence in the United States is expanding that footprint by partnering with a Washington DC-based MMJ grower. Tikun Olam, an Israeli MMJ firm that specializes in genetics, said in a news release that it’s going into business with Alternative Solutions, one of the few […]

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Cronos Group raises CA$17 million to fund R&D, boost marijuana production

Cronos Group has closed a stock deal that raised 17.2 million Canadian dollars ($13.5 million) to fund research and development, expand Canadian cannabis production capacity and develop distribution infrastructure. The deal brings to CA$90 the amount of capital the company has raised so far this year, including CA$40 million in debt, President and CEO Mike Gorenstein […]

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