Demand has met and surpassed supply for the recently legalized adult cannabis market in Uruguay.
It took all but one day for the cannabis supply to run out in Uruguay. According to local press, on the first day of full legalized adult-use consumers were left with nothing in the capital city of Montevideo, which hosts four pharmacies allowed to sell cannabis. There are 16 total licensed pharmacies in all Uruguay.
“I was left with no stock,” Sebastian Scaffo, the owner of one of the four licensed pharmacies in Montevideo told La Nacion. “[I] couldn’t call to get my stock replenished.”

Pharmacies in the capital had to request more product almost immediately

Ecos reported nearly 35 kilograms have been sold through the rigorous system in Uruguay since legalization kicked off on July 19.
“After a week of sales of cannabis in the country, the four pharmacies in Montevideo had to replenish for a third time,” the online website wrote.
According to Ecos, between 10 and 12 new pharmacies have shown interest in applying for the sale license. The number of licenses for people also saw an increase following the beginning of sales, up to the first day of legal sales 6,797 people had registered, in the past week, 1,200 applied.
On an account of the first day of sales in the country, El Observador reported the much anticipated day saw a variety of issues for consumers including long lineups and faulty computer recognition systems, which forced pharmacies to turn away people for whom the system didn’t recognize, yet claimed to have registered with the government in advance of the date.
“According to El Pais, cannabis ran out in the course of the day for all four licensed pharmacies in Montevideo,” El Observador wrote.
The restrictions put in place for the cannabis market in Uruguay, limit consumers to buy a monthly maximum of 40 grams. Currently, vendors are only allowed to sell 5-gram container bags, priced at $1.30 per gram. However, CNBC reported 10-gram containers are expected.
I think the situation in Uruguay is going to be heavily watched, it won’t be ignored,” Emilio Ruchansky editor of THC magazine, a cannabis lifestyle and culture publication told Resumen Del Sur.


Investor Takeaway

The situation in Uruguay has been closely followed by the Canadian market as it hopes to also legalize the sale of cannabis next year. However, the shortage experienced in the country is another example of a rush boom through legalization, a similar shortage is expected in Canada.
Don’t forget to follow us @INN_LifeScience  and @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”), of the important December 1, 2020 lead plaintiff deadline in the securities class action. The lawsuit seeks to recover damages for Aurora investors under the federal securities laws.

To join the Aurora class action, go to http://www.rosenlegal.com/cases-register-1965.html or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

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Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff

Tactile Systems Technology (NASDAQ:TCMD)
Class Period:
May 7, 2018 – June 8, 2020
Deadline: November 30, 2020
For more info: www.bgandg.com/tcmd

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The re-filed Interim Financial Statements reflect changes to the Condensed Interim Consolidated Statements of Loss and Comprehensive Loss comparative period to remove transaction fees from the income statement and capitalize them to the applicable acquisition in accordance with the Company’s early adoption of the amended IFRS 3 as set out in Note 2, and to reclassify $1 million from general and administrative expenses to transaction fees for presentation purposes to conform with the Company’s presentation used in its audited consolidated financial statements for the years ended December 31, 2019 and 2018 (the “ Audited Annual Financial Statements ”). The re-filed interim Financial Statements also reflect changes to the Condensed Interim Consolidated Statement of Changes in Shareholders’ Equity to correct the 2019 comparative period balances as they incorrectly reflect Q1 2019 period balances, update certain presentation to conform with the Company’s presentation used in its Audited Annual Financial Statements; and reduce the valuation conclusion of the Company’s acquisition of NettaGrowth International Inc. to conform with the Audited Annual Financial Statements. The re-filed Interim Financial Statements also bring forward the subsequent event note disclosure.

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