International Cannabis Business Conference Blog – Page 74 – International Cannabis Business Conference

Mastering The Challenge Of European Cannabis Market Saturation And Oversupply

Written by Hazel Norman on August 1, 2023. Posted in Business.

Different nations across Europe allow for the cultivation, manufacturing, and processing of medical cannabis. Few of the facilities are truly EU-GMP compliant and able to deliver what was promised. Europe’s markets are competing and not collaborating. Few real sales markets other than Germany are established. Some countries like the Czech Republic, France, or Poland show tendencies with a rising number of prescriptions and new regulations for patient access. The German market itself is oversaturated and has many regulatory hurdles to consider. All in all, investors should understand the complexity of market dynamics, especially in regard to timeline and planning of such complex ventures. Below is an embedded video of a panel discussion about this topic that was recently held at the International Cannabis Business Conference’s Global Investment Forum in Berlin. Panelists include:

Lisa Haag – Founder, MJ_Universe (moderator)
David Engel – CEO/President, Full Moon Real Estate Investments And Ondara Directorship SLU
Dr. rer. nat. Adrian Fischer – Co-Founder and Managing Director, DEMECAN
Vera Broder – CEO, MHI Cultivo Medicinal SA.
Alexander Rieg – Founder, AR Pharma Consulting

We look forward to seeing you in Berlin in 2024, as well as at our upcoming science and technology event in Slovenia this September!

Albanian Parliament Approves Medical Cannabis Legalization Measure

Written by Johnny Green on July 24, 2023. Posted in Policy.

Albania’s Parliament recently approved a medical cannabis legalization measure. The bill, which appears to be a fairly general piece of legislation that is short on a lot of granular details, was approved by a 69-23 vote.

The successful medical cannabis legalization vote came amidst strong pushback from domestic cannabis opponents in Albania. The European nation has long served as a fairly difficult place to achieve reform due to the stigma surrounding the nation’s unregulated drug trade. Historically, Albania was a popular route for smuggling unregulated drugs, including unregulated cannabis.

Limited cultivation was approved as part of the measure, and that specific provision was subject to a particularly heavy focus by cannabis opponents who wished to keep full cannabis cultivation prohibition in place, regardless of the purpose of the proposed cultivation.

According to the Associated Press, when the left-wing Socialist Party government of Prime Minister Edi Rama took power in 2013 Albania’s government spent the next two years destroying illegal cannabis plants with “an estimated market value of 7 billion euros ($8.5 billion), more than two-thirds of the country’s annual gross domestic product at that time.”

While Albania remains a popular route for smugglers, and unregulated cannabis is still cultivated domestically, the war on cannabis is not at the fevered pitch that it was at roughly a decade ago. Albania would be wise to continue to work to modernize its medical cannabis policies, and hopefully, its adult-use cannabis policies as well.

Albania is home to a thriving cannabis community, albeit an unregulated one, and that is far from a new thing. That was very apparent in Season 3 of the hit cannabis reality show Growing Belushi in which famed entertainer and International Cannabis Business Conference speaker alumni Jim Belushi visited the country to discuss cannabis policy and industry.

Albania’s new law creates the ‘National Agency for the Control of Cannabis’ which will be tasked with overseeing the nation’s eventual legal medical cannabis industry.

German Lawmakers International Cannabis Business Conference Berlin 2023

German Policymakers Discuss Ongoing Cannabis Policy Modernization Effort

Written by Johnny Green on July 24, 2023. Posted in Policy.

It is very rare that you get to hear directly from sitting lawmakers that are literally in the midst of working to pass historic cannabis legislation that will dramatically affect the entire emerging international cannabis industry. However, that is exactly what happened at the recent International Cannabis Business Conference where German policymakers from multiple parties discussed ongoing cannabis reform efforts. The panel discussion is embedded below (please be aware that the discussion was conducted in German).

We look forward to seeing you in Berlin in 2024, as well as at our upcoming science and technology event in Slovenia this September!

Peter Homberg International Cannabis Business Conference Berlin 2023

German Cannabis Legalization Update – Keynote Speaker Peter Homberg

Written by Johnny Green on July 24, 2023. Posted in Policy.

Germany continues to trend towards modernizing its cannabis policies, and once legalization is achieved there, it will have a butterfly effect on the entire global cannabis industry. However, while the overall impact of German legalization at the macro level is fairly straightforward to understand, the same is not true at the regional market level, as some markets will be impacted more than others.

Renowned international cannabis expert Peter Homberg recently discussed the current state of German cannabis policy, ongoing modernization efforts, and what it means for the emerging cannabis industry as a keynote speaker at the recent International Cannabis Business Conference in Berlin. Peter Homberg is a partner at the leading international business law firm Dentons. The embedded video below contains his keynote speech in its entirety.

We look forward to seeing you in Berlin in 2024, as well as at our upcoming science and technology event in Slovenia this September!

Limited Legalization Law Takes Effect In Luxembourg

Written by Johnny Green on July 23, 2023. Posted in Policy.

Luxembourg joined the short list of nations that have implemented a national, adult-use cannabis legalization law that is not based on a low-THC model. The only other nations to do so prior to Luxembourg are Uruguay, Canada, and Malta.

Compared to its predecessors, Luxembourg’s legalization model is more limited. First and foremost, there is no commerce component to Luxembourg’s new adult-use cannabis law. All sales are still strictly prohibited.

What is now legal in Luxembourg as of late this week is for adults to possess up to three grams of cannabis and to cultivate up to four plants in a secure location within their private residence. Home cultivation, and presumably gifting between adults, are the only legal ways to obtain cannabis in Luxembourg.

The only other country in Europe right now to explicitly allow such activity to occur is Malta. Malta passed an adult-use legalization measure in late 2021, and while the cannabis club provision of the law has yet to materialize, eventually noncommercial cannabis clubs will be allowed in Malta, unlike in Luxembourg.

Additionally, Malta permits adults to possess up to 50 grams of cannabis in their home, and 7 grams while away from their home, which is considerably more than what is now allowed in Luxembourg. Adults in Malta are also allowed to cultivate up to 4 plants in their private residences, versus the 3 plant limit in Luxembourg.

Before Luxembourg implemented its legalization model, Malta was easily the most restrictive legal nation on earth. Comparatively, Canada has the most robust legalization model on earth, followed by Uruguay. Both nations permit nationwide possession, sales, and cultivation, however, Uruguay limits legal sales to residents.

The elephant in the legalization room is still Germany, which continues to trend toward passing its own national legalization law. Once that happens it will likely open up the floodgates in Europe and beyond to varying forms of legalization.

Not too long ago, what legalization ‘looked like’ in the minds of many cannabis enthusiasts was much more uniform than what is actually playing out in reality. It may be a while before we see two countries with identical cannabis legalization models, and for that matter, we may never see two countries with carbon-copy national cannabis policies. Only time will tell.

For now, Luxembourg’s law is worthy of celebration, as long as people keep it in the proper context.

CBD Percentages In Infused Liquid Products Reportedly Lower Than Advertised

Written by Frank Schuler on July 23, 2023. Posted in Science.

Products infused with cannabidiol (CBD) are very popular these days, and widely available. Unfortunately, they are not always regulated properly. This is not to say that every CBD product on the market is harmful, however, there are still many unknowns when it comes to CBD products in different jurisdictions.

Some jurisdictions have taken steps to try to regulate CBD products, with varying degrees of success. Yet other markets, and certainly the marketplace for CBD products sold over the internet, have virtually no oversight.

As such, it should not surprise anyone to learn that a recent study determined that CBD percentages for many infused liquid products are often lower than advertised, which itself is an argument for (not against) regulating CBD products. Below is more information about it via a news release from NORML:

Leicestershire, United Kingdom: CBD-infused liquid products available in the United Kingdom typically contain lower percentages of CBD than are advertised on the products’ labeling, according to data published in the Journal of Cannabis Research.

Researchers affiliated with Loughborough University in England performed laboratory testing on 29 CBD-infused liquid products, including oils, drinks, and tinctures. Consistent with numerous other analyses of CBD-infused products from the United Kingdom, the United States, and elsewhere, investigators reported that few products contained CBD in concentrations that were consistent with the products’ labels.

“Few products had measured CBD concentrations within 10 percent of advertised concentrations, with most falling below advertised concentrations,” authors concluded. “These findings may be indicative of poor manufacturing standards, or that CBD undergoes degradation in consumer products. This reinforces concerns over the quality of CBD-containing consumer products and may highlight the need for improved regulation of such products.”

Analyses of commercially available CBD products available in the United States have consistently determined that these products are of variable quality and potency, and that they often contain contaminants, adulterants, or elevated levels of heavy metals. Nevertheless, these products remain unregulated by the FDA, which has thus far refused to take action to oversee either the manufacturing or the purity of CBD products.

Survey data compiled by the National Consumers League reports that more than eight in ten US voters desire greater federal regulatory oversight over the labeling and marketing of commercially available CBD products.

Full text of the study, “A comparison of advertised versus actual cannabidiol content of oils, aqueous tinctures, e-liquids and drinks purchased in the UK,” appears in the Journal of Cannabis Research.

Where Does Colombia Export Legal Cannabis Flower To?

Written by Hazel Norman on July 23, 2023. Posted in Business.

A new report is out in Colombia that provides insight into the South American country’s emerging legal medical cannabis export industry. Last year marked the first time in Colombia’s history that regulated medical cannabis flower was exported to another nation. Since that time, over five dozen permitted shipments have occurred or are in the process of occurring.

Colombia is home to one of the most ideal climates for cultivating cannabis on the entire planet and has long served as a top international source for unregulated cannabis flower. In recent years, policymakers and regulators in Colombia have increased efforts to transition the country’s cannabis industry from being controlled by cartels to being operated by licensed and regulated entities.

Legal medical cannabis imports and exports are a relatively new thing at the global level, and multiple countries are now trying to gain a foothold in the emerging area of the global cannabis industry. According to domestic reporting, Colombia has shipped low-THC cannabis to several countries. Per Bloomberg:

According to information provided to Bloomberg Linea by the Colombia Agricultural Institute (ICA), there have been reports, to date, of 65 exports of this type, some of which are close to materializing.

Of that total, the largest shipment was one of 186,000 grams of dried cannabis flower, with a maximum THC (psychoactive component) content of 0.01%. The dat of export was from June 23 to July 7 of this year and the destination: Switzerland.

ICA also reported a May shipment of 102,500 grams that also went to Switzerland, which was the second largest export. That batch of cannabis flower contained 0.574% THC content. Another 65,000 grams were exported to Australia, with a reported 24.01% THC content.

In total, 18 shipments went to Australia, 16 to Switzerland, 12 to Germany, 8 to the United States, 4 to Israel, 2 to Portugal, Ecuador, and Brazil, and 1 to the Czech Republic.

STORZ And BICKEL Announces Certification Of Medical Vaporizers

Written by Frank Schuler on July 23, 2023. Posted in Business.

When it comes to cannabis consumption devices, one brand stands above all others. That brand is, of course, STORZ & BICKEL. The company’s iconic Volcano vaporizer revolutionized the way that people consume cannabis around the globe over two decades ago, and the flagship device continues to stand the test of time.

The company has since expanded its gadget offerings, and STORZ & BICKEL’s devices are often touted by members of the medical community as being the best devices to use if you are a suffering medical cannabis patient. Recently, the company’s devices received a new certification which further establishes them as some of the top devices for patients. Below is more information about it via a company news release:

TUTTLINGEN, Germany: STORZ & BICKEL GmbH (“STORZ & BICKEL”), the world’s leading manufacturer of high quality and medically certified vaporizers for cannabis and subsidiary of Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC), today announced the certification of its premium devices VOLCANO MEDIC 2 and MIGHTY+ MEDIC according to the new EU regulation for medical devices (“MDR “) known.

The new MDR regulations contain stricter quality requirements for medical devices manufactured or imported into the EU than the previous MDD (Medical Devices Directive).

The comprehensive certification process was carried out by TÜV SÜD, a renowned provider of certification, auditing and testing services. As part of the audit, several strict criteria of the standard (DIN) EN ISO 13485:2016 were evaluated, which require defined processes and the documentation of the quality management system of the audited body, the European Directive 93/42/EEC (MDD) and the European Regulation for Medical Devices (EU) 2017/745 – Annex IX Chapter I and III. In addition, the exam covered the MDSAP with country-specific requirements for Australia (TGA), Canada (HC) and the United States (FDA). STORZ & BICKEL passed the test with excellent results and no complaints.

“As the world’s leading manufacturer of medically certified cannabis vaporizers, we recognize the great responsibility we have towards our patients and we are very proud of this achievement,” said Juergen Bickel, Founder and Managing Director of STORZ & BICKEL. “We continue to build on our strong foundation of leading device design and rigorous quality assurance and control standards to ensure the availability of our world-class medical vaporizers to patients worldwide . ”

STORZ & BICKEL is expected to launch the VOLCANO MEDIC 2 and the MIGHTY+ MEDIC with MDR certification in August – once again setting a new industry standard and reaffirming the company’s commitment to exceptional quality.

You can find more information about STORZ & BICKEL at www.storz-bickel.com .

Information on STORZ & BICKEL GmbH

STORZ & BICKEL GmbH is a global leader in the manufacture of high quality and medically certified vaporizers for cannabis. With quality, innovation and compliance, the company has consistently delivered exceptional products that meet the highest industry standards. Based in Tuttlingen, Germany, STORZ & BICKEL is driving the advancement of vaporization technology, providing a safe and efficient means of consuming cannabis for medicinal purposes.

About Canopy Growth

Canopy Growth Corporation (“Canopy Growth”) is a leading North American cannabis and consumer products company committed to unleashing the power of cannabis to improve lives.

Through a relentless commitment to its customers, Canopy Growth delivers innovative products with a focus on premium and mainstream cannabis brands such as Doja, 7ACRES, Tweed and Deep Space. Canopy Growth’s CPG portfolio includes sugar-free sports drink brand BioSteel, targeted 24-hour skincare and wellness solutions from This Works, gourmet wellness products from Martha Stewart CBD, and category-defining vaporization technology from Germany’s Storz & Bickel.

Canopy Growth has built an extensive ecosystem to capitalize on opportunities in the U.S. THC market. These include rights to Acreage Holdings, a vertically integrated multi-state cannabis operator with primary operations in densely populated states in the Northeast. As well as Wana Brands , a leading brand of edibles in North America, and Jetty Extracts, a California-based manufacturer of high-quality cannabis extracts and a pioneer of clean vape technology.

In addition to its best-in-class products, Canopy Growth leads the industry in its commitment to social justice, responsible consumption and community reinvestment – pioneering a future where cannabis is understood and embraced for its potential to contribute to greater wellbeing and a better life.

Visit www.canopygrowth.com for more information .

Cautionary Statements About Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and “forward-looking information” within the meaning of theapplicable Canadian securities laws. Often, but not always, forward-looking statements and information can be identified by the use of words such as “plans,” “expects” or “does not expect,” “is expected,” “estimates,” “intends,” “foresees” or “does not anticipate,” or “believes,” or variations of such words and phrases, or state that certain actions, events, or results “may,” “could,” “would,” “may” or “will” occur or be achieved. Forward-looking statements or information involve known and unknown risks, uncertainties and other factors that could cause the actual results, The performance or achievements of Canopy Growth or its subsidiaries may differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements or information contained in this press release. Examples of such statements and uncertainties include statements regarding new product launches as part of MDR certification, including the timing, expected outcome and quality of such new product launches, and expectations regarding other economic, business and/or competitive factors.

including changes in financial and stock markets and the impact of elevated rates of inflation; legal and regulatory risks in the cannabis industry, including the global regulatory environment and enforcement of cannabis-related regulations; reducing the concentration of the active substance; political risks and risks related to regulatory changes; risks related to anti-money laundering laws; Compliance with extensive government regulations and the interpretation of various laws, regulations and policies; public opinion and perception of the cannabis industry; and other risks contained in Canopy Growth’s public records,www.sedar.com and on the United States Securities and Exchange Commission through EDGAR at www.sec.gov/edgar , including under the heading “Risk Factors” in Canopy Growth’s Annual Report on Form 10-K for the year ended March 31, 2023.

With respect to the forward-looking statements and information, Canopy Growth has made such statements and information based on certain assumptions it believes to be reasonable at the time. Although Canopy Growth believes that the assumptions and factors used in preparing the forward-looking information or forward-looking statements contained in this press release are reasonable, undue reliance should not be placed on such information. There can be no assurance that these events will occur in the time periods indicated or at all. Should one or more of the aforementioned risks or uncertainties materialize, or should the assumptions on which the forward-looking information is based prove to be incorrect, actual results may differ materially from the intended, planned, anticipated, believed, estimated or expected results described herein. Although Canopy Growth has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information and forward-looking statements contained in this press release are made as of the date of this press release, and neither STORZ & BICKEL nor Canopy Growth undertakes any obligation to publicly update such forward-looking information or forward-looking statements to reflect new information,

Media contact: Vatra Krasniqi , Head of Marketing and Communications, +49 7461 96970735, Vatra.krasniqi@storz-bickel.com ; Laura Nadeau , Manager, Communications, media@canopygrowth.com ; Tyler Burns , Director, Investor Relations, Tyler.Burns@canopygrowth. com

SOURCE Canopy Growth Corporation; Storz & Bickel

Ghana Approves Historic Cannabis Bill

Written by Hazel Norman on July 17, 2023. Posted in Policy.

Ghana recently became the latest country to pass a national medical cannabis legalization measure. The African nation’s parliament approved the ‘Narcotics Control Commission Bill, 2023’ mere days ago. The measure tasks Ghana’s Ministry of Interior with issuing cannabis cultivation licenses.

In 2020, Ghana’s parliament passed a measure authorizing the production of low-THC cannabis for medical and research purposes. However, the nation’s Supreme Court later deemed the measure to be unconstitutional, and as a result, kept prohibition in place. The measure that was approved in recent days in Ghana seemed to directly address the reported legal insufficiencies.

Ghana’s economy currently ranks 10th among African nations, however, it ranks 74th globally. The average salary in Ghana is roughly 60,340 GHS, which converts to about 5,292 USD. Needless to say, a robust, thriving medical cannabis industry would greatly benefit the citizens of Ghana via a boost in economic development and job creation.

The economic benefit to Ghana comes in addition to the wellness benefits that will be afforded to suffering patients under the new law. As is the case in every country, Ghana is home to countless suffering patients that could benefit from cannabis therapies.

The new law will not result in every suffering patient receiving safe access, however, it will be a welcomed policy change for the suffering patients that are able to be helped by the recently approved measure.

The African nation joins a growing list of other countries on the continent such as Morocco and South Africa that have taken steps to modernize their medical cannabis policies. No country in Africa has a medical cannabis policy as robust and progressive as can be found in North America, including Ghana, however, the continent is at least trending in the right direction at a macro level.

Africa is still home to some of the strictest cannabis policies on earth, and international cannabis observers need to be mindful of that fact. What African nations such as Ghana are implementing may not be the best medical cannabis policies at the global level, however, they are considerably better than outright prohibition.