International Marijuana Business News

Paraguay issues details covering application process for cannabis business permits, with established labs gaining an edge

Paraguay issued detailed guidelines governing the business licensing system for its new medical cannabis program, including the application process for companies hoping to secure a production license. A speedy application timeline – applications must be filed this month – suggests that authorized pharmaceutical laboratories will have an inside edge in winning a production permit. The […]

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$400M invested in Colombia cannabis industry, official tells Latin American Cannabis Symposium

Over $400 million has been invested in Colombian medical cannabis so far, and the country is in the early innings of an industry with massive potential, a Colombian government official said Monday. Juliana Villegas Restrepo – vice president of exports at ProColombia, a government agency in charge of promoting Colombian non-traditional exports – told MJBizCon’s inaugural […]

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Latin American Cannabis Symposium kicks off, focusing on region’s business opportunities and growth prospects

MJBizCon’s inaugural Latin American Cannabis Symposium kicks off in Bogotá on Monday at a time when expectations are high that this region will emerge as a low-cost marijuana cultivation juggernaut. More than 500 marijuana industry entrepreneurs, investors and executives from 20 countries are attending the two-day conference at the Grand Hyatt Bogotá. In addition from Latin […]

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A new way to commercialize cannabis in Canada: Q&A with Mark Spear of Wildfire Collective

Wildfire Collective is spearheading Canada’s first exclusively outdoor, multisite craft cannabis operation focusing on high terpene, full spectrum extracts. “This really is something that’s going to help differentiate us when margin compression comes in the near future,” said Mark Spear, founder and CEO of the Ottawa-area company. Unlike many  publicly traded cannabis companies in Canada, Wildfire […]

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Uruguay’s hemp exports could start next year: Q&A with Sergio Vazquez of the agriculture ministry

Editor’s note: Sergio Vazquez will appear at the MJBizDaily Latin American Cannabis Symposium, Sept. 30-Oct. 1, in Bogota, Colombia.) Uruguay could see the start of an export stream for hemp as early as 2020, after a period of testing has been completed, marking a milestone for Latin American hemp industry. That’s according to Sergio Vazquez, head of […]

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Auxly Cannabis closes CA$123 million investment from tobacco giant Imperial Brands

Auxly Cannabis finalized an investment from Imperial Brands worth 123 million Canadian dollars ($92 million), one of the largest investments yet from a tobacco company in the marijuana industry. The British multinational tobacco company picks up a 19.9% stake in British Columbia-based Auxly as part of the deal. In return, Auxly gets licenses for Imperial’s […]

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Canada ‘falling woefully short’ of displacing illicit cannabis market, researcher says

Canada’s regulated cannabis sales accounted for only 14% of total demand by volume in June, according to a new analysis by market researcher TheCannalysts. That’s counter to some estimates that the regulated market “wiped out half the black market” in the first year of legalization, as claimed by the former principal secretary to Prime Minister […]

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Australian capital legalizes recreational marijuana

Australia’s capital is the first part of the country to legalize recreational marijuana for personal use. The Australian Capital Territory Legislative Assembly voted on Wednesday to legalize possession by adults of up to 50 grams (1.8 ounces) of dried marijuana and cultivation of two marijuana plants beginning Jan. 31. The assembly is the local government […]

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Auxly Cannabis Group partner Sunens closes CA$84M credit facilities with Bank of Montreal

Sunens Farms, a federal cannabis applicant in Leamington, Ontario, closed a nonconvertible debt deal underwritten by the Bank of Montreal (BMO). The 84 million Canadian dollar ($63 million) deal consists of a three-year debt facility for CA$71.5 million and a CA$12.5 million leasing facility. Proceeds will finance equipment and the first phase of the company’s CA$150 million […]

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