Forbes covered the latest developments in the legalization of medical and recreation cannabis use in Mexico. Mexican President-elect Andres Manuel Lopez Obrador has expressed interest in legalization and last week, the country’s Supreme Court ruled that anti-cannabis laws were unconstitutional. However, Mexico isn’t the only country looking at decriminalizing cannabis and the US’s stance on cannabis is baring its entry into a lucrative market.
As more countries set forth to legalize the plant, the US is falling behind because the federal government still classifies cannabis in the same category as heroin, LSD and methamphetamine. Many US companies and investors have been locked out of the market due to this stance. As US companies are forced to sit on the sidelines, foreign companies are securing global distribution rights, creating supply chains and establishing subsidiaries that pass over the US, hurting its economy and stunting the growth of their domestic cannabis industry.
If and when the US decides to legalize cannabis on a federal level, US cannabis companies are going to be behind their well-funded foreign competitors. Until then, US cannabis companies will need to think of other ways to gain the opportunities and funding that they need to grow. They may want to take an interest in the strategies that foreign companies, such as Colombia-based Khiron Life Sciences Corp. (TSXV:KHRN) and sponsor cannabis conferences with the aim of educating legislators about the plant. Khiron was able to impress the former Mexican President Vicente Fox, who joined Khiron’s board shortly after the conference. Fox will be an asset for the company as they move forward with their Latin American expansion plans.
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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).