Mexico looks to be closer than ever to cannabis reform, with the country releasing its regulation plans to make the drug legal in medical settings.

Meanwhile, despite the financial hardships seen recently in the Canadian cannabis market, CEOs in the country are still receiving top dollar, as per a new study.


Keep reading to find out more cannabis highlights from the past five days.

 

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Mexico moves forward with medical cannabis

This past week, the Mexican health ministry showed its intentions when it comes to cannabis policy, publishing its regulations for the medical use of the drug.

A Tuesday (January 12) report from Reuters indicates the new policy was signed off on by Mexican President Andres Manuel Lopez Obrador.

“(The regulation) is not aimed at patients growing their own cannabis, it is aimed at pharmaceutical companies producing pharmaceutical derivatives of cannabis which are classified as controlled substances that need prescription,” Luisa Conesa, a pro-cannabis lawyer in the country, told Reuters.

According to Conesa, the regulations will be very strict. While product imports will be allowed in some capacity, cannabis exports from Mexico won’t be permitted.

In addition to the new medical rules, the country plans to move ahead with recreational cannabis use reform in the near future.

Cannabis CEOs among the highest paid in Canada

A new market research review from the Center for Policy Alternatives (CCPA) indicates that cannabis CEOs are seeing some of the biggest salaries across the board in Canada.

The study, first reported by Marijuana Business Daily, shows Canadian CEOs across all industries made 202 times what the average worker made in 2019; that’s down from 2018, when the difference was greater. The average pay for the nation’s top 100 CEOs in 2019 was C$10.8 million.

 

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Irwin Simon, CEO of Aphria (NASDAQ:APHA,TSX:APHA), was the highest-paid cannabis CEO in Canada in 2019, repeating from 2018, with total compensation of C$18.4 million for the year.

The CCPA said it won’t know the numbers for 2020 until the spring, but projections are showing that leading CEOs continued to see high financial rewards.

Study author and CCPA Senior Economist David Macdonald said policymakers need to step up their efforts to guarantee that companies getting financial support from government sources don’t boost the capital gains of their executives.

Cannabis company news

  • Village Farms International (NASDAQ:VFF,TSX:VFF) confirmed a new offering resulting in the sale of over 10 million shares in the company. It expects to see gross proceeds of US$135 million.
  • TerrAscend (CSE:TER,OTCQX:TRSSF) finished the second stage of construction at its Boonton, New Jersey, cannabis facility, reaching approximately 80,000 square feet of indoor cultivation.
  • Planet 13 Holdings (CSE:PLTH,OTCQB:PLNHF) upped the size of a previously announced public offering. The company will now seek to collect C$60 million in gross proceeds from selling 8.5 million shares at a price of C$7 each.
  • Ayr Strategies (CSE:AYR.A,OTCQX:AYRWF) laid out the details of a new equity shares offering that will secure the company gross proceeds of approximately C$137 million. The firm will offer 4 million shares at a price of C$34.25 each.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

 

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First Units on Sale Today at Newburgh Dispensary with Availability Tomorrow at Carle Place , Forest Hills , and Plattsburgh Locations

With Enough Product to Supply Wholesale Partners by Month’s End

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Aurora Cannabis Inc. (the “Company” or “Aurora”) (NASDAQ: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today that it has scheduled a conference call to discuss the results for its first quarter fiscal year 2022 on Tuesday, November 9, 2021 at 5:00 p.m. Eastern Time | 3:00 p.m. Mountain Time . The Company will report its financial results for the first quarter fiscal year 2022 after the close of markets that same day.

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Cannabis legalization in Canada brought the promise of global business opportunities, but it also led to missed potential in research on the medical side. 

Even before the days of adult-use legalization in Canada, the market had seen a barrage-like cycle of ups and downs, creating uncertainty about where to find solid investment opportunities.

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Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced that it will participate in two upcoming events hosted by Microdose:

  • Psychedelic Capital to be held virtually on Thursday, October 28, 2021 . Payton Nyquvest , Founder and CEO of Numinus, will present at 1:45 p.m. ET . To attend, please register here .
  • Wonderland: Miami to be held at the Adrienne Arsht Center for the Performing Arts in Miami, FL on November 8-9, 2021 . Mr. Nyquvest and Dr. Evan Lewis , Founder & Director of the Neurology Centre of Toronto , will give a presentation called Psychedelic Neurology in the Treatment of Trauma on Monday, November 8 at 4:40 p.m. ET . In addition, Sharan Sidhu , Science Officer & General Manager of Numinus, will participate in the Patent Wars panel on Tuesday, November 9 at 4:30 p.m. ET . To attend, please register here .

For more information about the events or to schedule a one-on-one meeting with Numinus‘ management, please contact KCSA Strategic Communications at NuminusIR@kcsa.com .

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Florida’s leading cannabis company to open three new Miami dispensaries

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), the largest multi-state operator (MSO) in the United States today announced the reopening of three medical marijuana dispensaries in Miami, Florida . The locations were formerly branded as Harvest House of Cannabis.

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