Mexico Moves Forward with Medical Cannabis Legalization

The Mexican health agency is now tasked to develop a system to regulate the use of medical cannabis for scientific research.

mexico-flag

The president of Mexico Enrique Pena Nieto released a decree on  Monday (June 19) amending the law to effectively allow for the medical cannabis market to enter the country.

The move by Pena Nieto will make it so marijuana products in Mexico will only be allowed as long as it contains 1 percent or less tetrahydrocannabinol (THC)– one of the main psychoactive ingredients in cannabis.

The Secretariat of Health for Mexico is now tasked with designing a system to regulate the use of medical cannabis for research.

"Ready to start investing in Cannabis? Get your Investor guide today"

Click below to get an INN Insider's Report on marijuana investing (value of $49) for FREE. Limited time offer. No credit card required.   Get My Free Report Click here to download 

According to Pena Nieto’s verdict cultivation of marijuana will not be punishable by the law, so long as the purpose of it is medical or for scientific research.

Potential for established Canadian cannabis companies

Earlier this year, following the approval from the Lower House of Parliament for the medical use of cannabis, an expert for the market in Canada said this move may cause an interest from established Canadian companies looking to expand their business.

You will definitely see interest in companies right away in exporting to the Mexican market and to aiding those companies there in getting things set up,” Aaron Salz, an advisor with Stoic Advisory previously told the Investing News Network “You’ll certainly see partnerships, you’ll see information sharing. I would almost be certain that the regulators will communicate with each other if they haven’t already.”

Despite a lack of a concrete plan from the Mexican government, some companies have taken the opportunity following this announcement to reveal they will attempt to enter the medical cannabinol market in Mexico.

“Through our online sales platform, we will immediately be able to commence distribution and build a footprint within Mexico,” CEO of Isodiol International (CSE:ISOL; OTC:LAGBF) Marcos Agramont said in a statement.

He added the company will attempt to obtain an approval with the Federal Commission for the Protection against Sanitary Risk for a manufacturing permit which will let them produce in Mexico.

Investor Takeaway

Experts have talked about the expansion of the cannabis market worldwide, with this announcement indicating that medical opportunities may open for established companies seeking international expansion–similar to the cases of companies pursuing the Australian and German market.

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

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

Editorial Disclosure: Isodiol International is a client of the Investing News Network. This article is not paid-for content.

"Ready to start investing in Cannabis? Get your Investor guide today"

Click below to get an INN Insider's Report on marijuana investing (value of $49) for FREE. Limited time offer. No credit card required.   Get My Free Report Click here to download 

Get the Latest Cannabis Investing Stock Information

Get the latest information about companies associated with Cannabis Investing delivered directly to your inbox.

Cannabis
Other Companies

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

"Ready to start investing in Cannabis? Get your Investor guide today"

Click below to get an INN Insider's Report on marijuana investing (value of $49) for FREE. Limited time offer. No credit card required.   Get My Free Report Click here to download 
Comments

Leave a Reply