On Wednesday (October 31), the Mexican Supreme Court ruled against the “absolute prohibition” of cannabis for recreational use.
The court, in a tweet, shared a statement confirming the rulings allowing the right for the use of recreational cannabis by adults. The court also said the use is not an absolute right and its consumption could be regulated.
The ruling doesn’t immediately open the doors for a new marketplace of adult-use cannabis, as this special ruling was given to two specific cases brought to the courts.
Ruling becomes new standard in country
The decision is a win for marijuana advocates as it shows a crucial court body saying the consumption of recreational cannabis shouldn’t be made illegal.
In a scrum interview with Mexican newspaper El Universal, the President-elect Andrés Manuel López Obrador called for the public to respect the decision from the supreme court.
The ruling from the Supreme Court, according to the Mexican paper makes invalid the previously placed laws in terms of the personal use of the drug. Other courts in Mexico will now have to abide by the ruling from the supreme court.
According to Reuters, officials of the incoming Mexican president have shown support to the idea of legalizing cannabis upon arrival into power.
A report from Marijuana Moment indicates the Mexican Congress has now 90 days to repeal laws deemed unconstitutional for cannabis.
The trend of legalization continues across the board. Now with the potential for a new market to appear in Mexico, companies with international intentions could announce plans as soon as the new Mexican government, which steps in on December 1, announces its legalization platform.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.
Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.
Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.
As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.
A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
The product will include polyphenols known to have significant health benefits.
BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.
Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.
The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).