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.

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.

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.

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

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The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

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Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

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HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

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CFN Enterprises Inc. (OTCQB: CNFN) (CFN Media) partners with FMW Media Works LLC to produce a regular series on the global cannabis markets to air on major financial news networks across the US. Initial segment features leading cannabis analyst and US Multi-State Operator (MSO)

CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced that its inaugural news segment on the cannabis markets, “Cannabis Market Outlook for 2021,” will air on Bloomberg, Newsmax and Fox Business.

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