The Hemp Club Wednesday Market Review 19.12.18
On December 7, 2018, California’s three cannabis licensing authorities submitted final versions of the state cannabis regulations scheduled to be approved by January 16, 2019. California’s Bureau of Cannabis Control (Bureau) submitted a final version of Section 5032 of the regulations that substantially limits commercial cannabis activity between licensed and unlicensed entities. Section 5032(b) states that “Licensees shall not conduct cannabis activities on behalf of, at the request of, or pursuant to a contract with any person that is not licensed under the Act.”
Miss Universe, the president—who isn’t in favor of cannabis in the Philippines?
So maybe the president of the Philippines wasn’t joking after all when he said he smokes cannabis to stay awake at meetings.
Earlier this month, Rodrigo Duterte shocked reporters when he told a press conference that marijuana helped him maintain alertness during marathon political conferences, like the recent annual Association of Southeast Asian Nations consortium. Though Duterte later walked back the statement, on Tuesday presidential spokesperson Salvador Panelo said the politician who powered a bloody drug war in the archipelago nation will sign “any bill that would be consistent with his stand,” of pro-medicinal cannabis legalization.
Budweiser maker AB InBev teams with Tilray in $100 million deal to research marijuana-infused drinks
Two commercial giants from the worlds of beer and marijuana are teaming up to spend $100 million to research cannabis-infused beverages, the latest deal to pair a Canadian cannabis company with a major maker of alcoholic beverages.
Belgium-based AB InBev (NYSE: BUD), which includes Budweiser in its huge portfolio of beer brands, is partnering with British Columbia-based Tilray (Nasdaq: TLRY), which produces cannabis brands such as Marley Natural.
New Zealand lawmakers are planning a recreational marijuana referendum for 2020.
New Zealand will vote on a recreational cannabis legalization referendum in 2020, the government announced on Monday. Following a decision by the cabinet, Justice Minister Andrew Little said the vote will be a part of the national general election taking place that year.
“We know when it will be, we have a commitment that it will be binding, and now it is just a question on filling in the detail from there,” Little said.
Tilray has signed a global partnership with a division of Swiss drug giant Novartis to develop and distribute its medical marijuana in legal jurisdictions around the world.
The Canadian pot firm said Tuesday it’s reached an agreement with Sandoz to boost the availability of medical cannabis products globally, building on an existing alliance with Sandoz Canada. The two companies will work together to commercialize Tilray’s non-smokable medical marijuana offerings, co-brand certain products, develop new products and educate pharmacists and physicians about pot.
Tilray jumped 13% pre-market in New York, to $74.20. Novartis fell 1% in Switzerland.
Development of Industrial Hemp regulations that will enable Malawi to formally join the growing nations is set to start this December as it awaits Cabinet approval, the Malawi Investment and Trade Centre has said.
Speaking to the Malawi UK Business Group reception in London, Director of Investment Promotion, Joshua Nthankomwa, said Malawi is set to have Industrial Hemp and Medicinal Cannabis programmes rolled out at different levels.
“The Special Crops Act is already in place, what we need now are regulations to govern the growing with Industrial Hemp licensing to start as soon as Government gives necessary approvals to regulations.
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