Cannabis Wealth

Quality news and analysis for the cannabis sector.
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14/02/2023

Kanabo Group has confirmed that the process of obtaining European CE approval for its unique meter-dose cannabis inhaler is continuing to progress.

CEO of Kanabo, Avihu Tamir, commented: “I am proud of our achievements in 2022, and believe we are now well-positioned to look forward with confidence as we head into 2023 to deliver a more accessible healthcare experience for patients."

Kanabo Group has confirmed that the process of obtaining European CE approval for its unique meter-dose cannabis inhaler is continuing to progress.

13/02/2023

Cannadips Europe, a SpectrumLeaf brand, has partnered up with Haypp Group which will soon offer the Cannadips Terpene Pouch Collection via its online platform.

CEO of SpectrumLeaf, Felix Sundström, commented: “Haypp is the perfect partner to further grow Cannadips and put it on the global stage, as we have the same objectives to offer healthier alternatives to users."

CBD company Cannadips Europe, a SpectrumLeaf brand specialising in premium CBD Snus products for the European market, has partnered up with Haypp Group - a company that is spearheading the global transformation from smoking to healthier product alternatives.

09/02/2023

The UK’s Cannabis Industry Council is urging the Treasury to “unlock the very significant economic potential” of the medical cannabis, h**p and CBD wellbeing sectors.

Mike Morgan-Giles, CEO of the Cannabis Industry Council, commented: “Despite the economic opportunity for the UK, it appears no cross-government plan covering the potential of the cannabis sector has taken place. Additionally, there has not been any top-level view or analysis of how the regulatory environment is impacting the sector.

“The UK needs to seize the opportunity to lead the world in emerging economic markets and the medical cannabis, CBD, and h**p sectors provide an unmissable opportunity to do that.”

The UK’s Cannabis Industry Council is urging the Treasury to “unlock the very significant economic potential” of the medical cannabis, h**p and CBD wellbeing sectors.

08/02/2023

Bloomwell Group has raised funding from Artemis Growth Partners, Measure 8 Venture Partners, and Moritz Bleibtreu, which will all be joining the company’s mission to de-stigmatise cannabis use for patients and for future adult-use consumers.

Co-Founder and CEO of Bloomwell Group, Niklas Kouparanis, commented: “...we are humbled to not only have the continued support of our existing investors but also to have been able to attract new lead capital from such a highly reputable group as Artemis, which is a statement of confidence and vision that we accept and embrace."

Bloomwell Group has raised funding from Artemis Growth Partners, Measure 8 Venture Partners, and a leading German family office Moritz Bleibtreu which will all be joining the company’s mission to de-stigmatise cannabis use for patients and for future adult-use consumers.

07/02/2023

Ananda Developments Plc has confirmed it has completed the testing of its 2022 harvested cultivars, demonstrating successful growth of diverse strains.

Ananda Developments has confirmed it has completed the testing of its 2022 harvested cultivars, demonstrating successful growth of diverse strains.

06/02/2023

Akanda Corp. has confirmed it has successfully launched its initial supply of products to German customers, recognising approximately €1.8 million in sales of EU GMP high-quality indoor-grown in the last quarter of 2022.

Chairman at Akanda, Harvinder Singh, commented: “Our vision is to be a pioneer in the European cannabis markets, utilising our valuable global expertise in cutting-edge cannabis cultivation processes.”

Akanda has confirmed it has successfully launched its initial supply of products to German customers, recognising approximately €1.8 million in sales of EU GMP high-quality indoor-grown medical cannabis in the last quarter of 2022.

03/02/2023

Prohibition Partners has released The European CBD Report: Health & Wellness which is designed to bring readers up to speed on CBD legislation, regulations and enforcement; how to operate a compliant CBD business and the current supply chain and consumer behaviour.

Find out more. ⬇

Prohibition Partners expects to see fully legal CBD food products being sold on the shelves of major retailers in every country in Europe in the next two to five years.

02/02/2023

Sana Healthcare will be renamed Script Assist after the company’s innovative platform which provides clinicians with everything they need to prescribe independently from their existing private clinic.

“Today is the culmination of years of hard work and I’m proud to be re-branding Sana Healthcare as Script Assist, our flagship platform that I’m sure will have a huge impact on cannabis prescribing in the UK”, founder Arjun Rajyagor said.

Sana Healthcare will be renamed Script Assist after the company’s innovative platform which provides clinicians with everything they need to prescribe medical cannabis independently from their existing private clinic.

01/02/2023

High Tide Inc. has signed an LOI with Berlin-based health and life science company Sanity Group to better take advantage of potential German adult-use cannabis legalisation.

Founder and CEO of High Tide, Raj Grover, stated: “We want to be well positioned to bring this success to the German market, should the government proceed with its publicly stated goal to legalise cannabis adult use.

“This is why we are proud to partner with a top player in the German medical cannabis space like Sanity Group, particularly since our business models are complementary in nature.”

High tide has signed an LOI with Berlin-based health and life science company Sanity Group to better take advantage of potential German adult-use cannabis legalisation.

31/01/2023

Aleafia Healthealth has announced that it has signed a new European distribution partner, significantly bolstering its record USD$1.2 million year-to-date sales in its growing international channel.

Aleafia CEO Tricia Symmes commented: “The company is involved in overseas markets because international success leverages both its products and brands, and the addressable European cannabis market is high potential, so this relationship provides another gateway into further European expansion in the medical and potential recreational markets.”

Aleafia Health has announced that it has signed a new European cannabis distribution partner, significantly bolstering its record USD$1.2 million year-to-date sales in its growing international channel.

30/01/2023

Akerna Corp. has announced it will merge with privately held bitcoin mining company, Gryphon Digital Mining, in an all-stock deal that will advance Gryphon’s leading ESG-committed, carbon-neutral business.

27/01/2023

The U.S. Food and Drug Administration (FDA) has announced it will be creating a new regulatory path for as current regulations are not suitable.

FDA Principal Deputy Commissioner Janet Woodcock, M.D., states in a press release on the day of the announcement: “Today we are announcing that after careful review, the FDA has concluded that a new regulatory pathway for CBD is needed that balances individuals’ desire for access to CBD products with the regulatory oversight needed to manage risks."

The U.S. Food and Drug Administration (FDA) has announced it will be creating a new regulatory path for CBD products as current regulations are not suitable.

26/01/2023

CBD brand, EthicaCBD, has announced its partnership between its Sports Gel and sporting legend Sir Ian Botham OBE.

The core ingredients of the sports gel are two cannabinoids - CBD and CBG.

CBD brand, EthicaCBD has announced its partnership between its Sports Gel and sporting legend Sir Ian Botham OBE.

25/01/2023

CleverLeaves has announced the wind-down of all operations in Portugal, expecting its Portuguese flower cultivation, post-harvest processes, and manufacturing activities to cease in full by the end of the first quarter of 2023.

CEO of Clever Leaves, Andres Fajardo, commented: “We believe this transition will allow us to optimise our production infrastructure and drive increased cost savings, positioning us to compete more effectively in the global market.

24/01/2023

Hilltop Leaf Ltd has confirmed it has raised £2m which will enable the company to make its first commercial sales and scale its infrastructure to become one of the largest UK producers of products.

CEO of Hilltop Leaf, Hamish Clegg, said: “We aim to provide an affordable, high-quality solution to treat conditions ranging from chronic pain to severe epilepsy, while easing pressure on the NHS. We plan to rival other countries such as Canada, Germany and Israel with our own reliable supply from the hills of Scotland.”

Hilltop Leaf has confirmed it has raised £2m from Traditum Private Equity and private investors.

23/01/2023

This year’s The Grocer Awards 2022 included by BRITISH CANNABIS™ Dermal Patches as one of the New Products of The Year at their annual event, Hilton Bankside, London.

“We are very proud to have our product selected amongst a host of well-known manufacturers and included in the rising star brands of consumer products at the event," commented Marketing Director Steve Batchelor.

The ‘Rising New Product’ was selected to join a shortlist of finalists in the Personal Care Category by a panel of expert judges drawn from a range of disciplines in the FMCG fields.

18/01/2023

Healthy Body Healthy Mind has secured contracts with two major online retailers – Amazon and Not On The High Street – for the sale and distribution of their range of CBD oils.

CEO and Co-Founder of HBHM, Bryan Kinghorn, stated: “As one of the latest CBD brands to hit the market, this is a really exciting and positive step for HBHM, which will open up a wider market for our high-quality, natural-based products."

Healthy Body Healthy Mind (HBHM) secured contracts with two major online retailers – Amazon and Not on the High Street for the sale and distribution of their range of CBD oils.

17/01/2023

Naturecan, which has 50 staff and is based in , has enjoyed rapid growth since starting in 2019 and revenue for 2023 is projected to be more than £18 million.

Co-founder and CEO Andy Duckworth said: “We are really excited about next year and are projecting sales to nearly double again thanks to the global demand for CBD and wellness products, the loyalty of our valued customers, and hard work and talents of our staff.”

Naturecan, which has 50 staff and is based in Stockport, has enjoyed rapid growth since starting in 2019 and revenue for 2023 is projected to be more than £18 million.

16/01/2023

Celadon Pharmaceuticals PLC has confirmed that its Midlands UK facility has been registered by the MHRA for GMP manufacturing of its cannabis API.

CEO of Celadon, James Short, said: “With the receipt of GMP registration, Celadon has joined a very select group of cannabis-focused pharmaceutical companies globally. This is a tremendous milestone for the Company given the significant capital and regulatory requirements in this sector."

Celadon Pharmaceuticals has confirmed that its Midlands UK facility has been registered by the UK Medicines and Healthcare products Regulatory Agency (MHRA) for the Good Manufacturing Practice (GMP) manufacturing of its cannabis Active Pharmaceutical Ingredient (API).

12/01/2023

Apollon Formularies and Global H**p Group (GHG) have signed a Letter of Intent GHG will acquire the exclusive perpetual license for North America to certain Apollon Intellectual Property and proprietary technology.

UK-based Apollon Formularies and Global H**p Group (GHG) have signed a Letter of Intent GHG will acquire the exclusive perpetual license for North America to certain Apollon Intellectual Property and proprietary technology.

10/01/2023

Khiron Life Sciences Corp.'s wholly-owned medical cannabis clinic network, Zerenia, has signed a contract with Capital Salud EPS, Colombia’s largest public insurance company, under which Zerenia will provide services and products to its patient population, directly reimbursed by Capital.

Alvaro F. Torres, CEO of Khiron, commented: “We are convinced that we have created a unique medical cannabis platform that other insurance companies in Colombia and abroad will want to offer to their patients to improve their quality of life.”

Khiron´s wholly-owned medical cannabis clinic network, Zerenia, has signed a contract with Capital Salud Eps, Colombia's largest public insurance company, under which Zerenia will provide medical cannabis services and products to its patient population, directly reimbursed by Capital.

09/01/2023

One of the USA’s largest CBD brands, Ambrani, will be expanding its distribution to see its products – which have been backed by Kim Kardashian – reach customers in .

One of the USA’s largest CBD brands, Ambrani, will be expanding its distribution to see its products - which have been backed by Kim Kardashian - reach customers in Europe.

06/01/2023

Following its recent acquisition of Franchise Global Health, Flora Growth Corp now has direct distribution lines to .

Chairman and CEO of Flora Growth, Luis Merchan, commented: “As the largest cultivator of commercial cannabis in Colombia, our ability to activate our farm and distribute products is nearly unmatched. With the acquisition of Franchise Global Health completed just last week, we now have direct lines of distribution to and the rest of Europe.”

Following its recent acquisition of Franchise Global Health Inc. (FGH), Flora Growth now has direct distribution lines to Europe.

05/01/2023

Oxford Cannabinoid Technologies Holdings Plc has submitted a combined clinical trials application for its lead programme to the UK Medicines & Healthcare products Regulatory Agency and Wales Research Ethics Committee.

Oxford Cannabinoid Technologies Holdings (OCTP) has submitted a combined clinical trials application for its lead programme - OCT461201 - to the UK Medicines & Healthcare products Regulatory Agency (MHRA) and Wales Research Ethics Committee (REC).

04/01/2023

Following a legal battle that has lasted almost a year, the Conseil d’État has now cancelled its ban on the sale of flowers.

Benjamin-Alexandre Jeanroy, CEO of Augur Associates, has welcomed the good news, however, he highlights that France has now “just made it back to where we should have been in 2018.”

Find out more. ⬇

Following a legal battle that has lasted almost a year, the French Council of State (Conseil d’État) has now cancelled its ban on the sale of CBD flowers in the country after the ban was suspended in 2022.

03/01/2023

Italy is aiming to become self-sufficient in . It will be producing 700 kg of medicinal cannabis along with cannabis-infused olive oil for patients.

Find out more. ⬇

According to reports, Italy is aiming to produce 700 kg of medicinal cannabis - enough to cover half of the amount needed for patients in the country annually.

14/12/2022

Linneo Health will now have access to Phytocontrol Group’s clinical analysis capabilities, and the agreement will enable both businesses to progress new developments and collaborations within the sector.

CEO of Linneo Health, Don Bellamy, said: “The work we will be doing with Phytocontrol will enable us to expand our reach, ensuring that we can meet the necessary requirements for entry into non-European markets, such as Israel."

13/12/2022

Prohibition Partners has released The Global Cannabis Report: 3rd Edition, which cites the UK and Germany as key European medical cannabis markets.

Co-founder of Prohibition Partners, Stephen Murphy, commented: “The progress being made in the medical cannabis sectors in Germany and the UK is really astonishing. Consider that a few years ago almost no medical cannabis was being prescribed in Germany and now we have in the region of 380k prescriptions being written each year on the public register with perhaps the same again being prescribed privately."

Prohibition Partners' new report shows that global sales of CBD, medical and adult-use cannabis amounted to US$44.2 billion in 2022, projecting that the market could reach US$100.4 billion by 2026.

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