Latin America Cannabis Industry & Marijuana Business News

Legal recreational marijuana diverts $22 million from Uruguay’s black market

Despite supply challenges that have limited access, Uruguay has diverted roughly $22 million of cannabis sales away from the illicit sector and into the regulated market, according to a recent report by the country’s cannabis regulatory agency. Under the South American country’s policy – implementation has been slow since its 2013 passage – adult residents have three […]

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Colombia’s first-ever export of medical cannabis set to ship to Canada

A Colombian marijuana company has received authorization to export product to Canada for testing, a move meant to show that the cannabis grown in the South American nation is “top quality.” Ecomedics S.A.S., which operates as Clever Leaves and is backed by U.S.-based investment firm Northern Swan, has obtained all the necessary approvals to, for […]

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Though a ‘positive step,’ WHO recommendations on cannabis fall short for some

The World Health Organization (WHO) made great strides in its recommendations on how cannabis should be scheduled, but the global industry believes there’s more work to be done. Martin Jelsma, drugs and democracy program director, at the Netherlands-based Transnational Institute, emphasized to Marijuana Business Daily that there are “very positive elements in the WHO recommendations,” including: Recognition […]

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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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