Welcome to the Cannabis Countdown. In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories for the week of July 15th – 21st, 2019.
Without further ado, let’s get started.
With Thailand’s legalization of medical cannabis in February, some experts predict that other Southeast Asian countries may move to decriminalize the plant. If that happens, it could prove a significant opportunity for investors interested in the space.
Consultancy Prohibition Partners estimates that Asia’s medicinal cannabis market could by 2024 be worth $5.8 billion.
At the end of 2018, Canada, the United States, and Mexico agreed on new terms to replace the North American Free Trade Agreement (NAFTA). The new treaty, the Canada-United States-Mexico Agreement (CUSMA), establishes updated legal language surrounding trade tariffs, environmental and labour regulations, and intellectual property protections.
It was only just last year that Canopy Growth (TSX: WEED) (NYSE: CGC) completed the first legal export of medical cannabis to the United States. As the world waits for the United States and Canada to follow Mexico in ratifying the new trade agreement, this is what cannabis investors should know about how the deal affects the marijuana industry.
Hip-hop star A$AP Rocky made global headlines in July because of an altercation and is now locked up Sweden. Thousands of fans and even politicians like President Trump are calling for his release.
Like many other rappers, A$AP Rocky’s fortunes are not tied up only in lyrics. These famous artists aren’t just signing record deals anymore. Top rappers are now signing lucrative weed contracts.
Now that cannabis is going mainstream, let’s take a look at the top ten hip hop artists who are capitalizing on the green rush.
Germany imported almost 2,500 kilograms (5,500 lbs) of medical cannabis flower for pharmacy dispensing during the first half of 2019.
That’s almost as much as the country imported in all of 2018, a sign that the expected growth in the market is coming to fruition.
U.S. health authorities are taking final comments from the public on how to regulate over-the-counter cannabis extracts such as CBD. The suggestions are due to the U.S. Food and Drug Administration (FDA) by midnight ET Tuesday, July 16, on how the agency should regulate cannabis-derived products.
The FDA has vowed to expedite its review of cannabis-derived compounds because of a surge in CBD products hitting the market. The agency now says it will have an update on the review by late summer or early fall.
The Ohio House on Wednesday voted 88-3 in favor of legislation that would move Ohio closer to decriminalizing hemp and hemp products, including CBD oil. Under current state law, hemp is considered a Schedule I drug because it — like marijuana — comes from the cannabis plant. However, hemp contains a low concentration of THC, marijuana’s psychoactive stimulant.
The bill would exclude hemp and its products from the definition of marijuana that the state uses to enforce controlled substance laws, and it would further prohibit the state’s Board of Pharmacy from listing hemp as a controlled substance.
Aurora Deutschland – the German subsidiary of Aurora Cannabis (TSX: ACB) (NYSE: ACB) – won all three “lots” to supply Italy with a total of 400 kilograms (880 lbs) of medical marijuana over two years, the Italian government announced.
But the award may come at a cost for Aurora as the average price it offered – 1.73 euros per gram ($1.94) – was less than half the tender reference prices and only slightly above the company’s latest reported average “cash cost of sales per gram of dried cannabis sold.”
On June 15, Fenwick resident Nick Lalonde, who worked at the Balfour Street site for almost two years, had emailed the Voice and several Health Canada employees with various allegations of infractions— including cannabis being grown in unlicensed areas.
If you weren’t already convinced that cannabis has gone mainstream — you will be now.
American rapper, business mogul, and all-around cultural giant, Shawn “Jay-Z” Carter, just announced a multi-year partnership with this leading California cannabis company. In addition to helping strengthen the company’s bottom line, Jay-Z will also look to create opportunities for those hurt by the prohibition of cannabis.
When it comes to bringing cannabis banking out of the informal cash exchange world and into America’s banking sector with Senate’s support, the train is finally leaving the station. The Senate has scheduled a hearing next week to discuss cannabis companies and their access to legitimate banking.
Open and fair banking access for cannabis companies in the United States will play a crucial role in the industry’s expansion and will eventually lead to the implementation of interstate and online cannabis commerce.
Move over Canopy. The world’s largest cannabis company is set to IPO in less than 30 days.
Get the full details here so you don’t miss out on the next potential 10 bagger.