International Marijuana Business News – Latin America
Colombian cannabis producer Clever Leaves Holdings plans to cut almost one-quarter of its total workforce and wind-down operations in Portugal as part of a major restructuring effort.
Government-funded health insurance in Colombia now includes medical cannabis coverage, potentially expanding the market for therapeutic marijuana in the South American country.
Costa Rica’s president followed through with a promise he made in August to bring recreational cannabis legislation to the Central American country’s Legislative Assembly.
Costa Rica’s president said he intends to bring recreational cannabis legislation to the Legislative Assembly and, separately, publish rules for the Central American country’s medical marijuana and hemp businesses.
Colombian cannabis firm Flora Growth reached a definitive agreement to acquire Carlsbad, California-based Vessel Brand for $30 million.
Colombian President Ivan Duque signed a decree into law that will expand revenue opportunities for domestic cannabis businesses inside and outside the country, a move some industry sources say could resuscitate a sector that has not yet come close to meeting expectations.
Mexico’s watershed court decision to authorize recreational marijuana even before regulations for the market have been settled gives cannabis entrepreneurs even more reason to make business plans to enter what could soon be the world’s biggest adult-use market.
