Jamaica

Growth & Jobs | Gov't to resolve banking issues affecting medical cannabis sector – Jamaica Gleaner

The Ministry of Industry, Investment and Commerce is working to resolve banking issues that have been impacting Jamaica’s medical cannabis industry. Many major banks are reluctant to fund the growth of medical cannabis out of fear of breaching federal laws in the United States of America (USA). As a result, businesses are unable to attract financing, without which they cannot be licensed. State Minister Dr Norman Dunn said that discussions are taking place “at various levels … because we believe that we need to solve this issue”. He said that local banks were invited to participate in a virtual meeting […]

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Lasco cannabis deal on hold amid UCANN bankruptcy filing – Jamaica Gleaner

A deal struck between Lasco Manufacturing Limited and American company United Cannabis Corporation, UCANN, for the production of cannabis-infused water and other medicinals has been placed on hold. It comes in the wake of UCANN’s filing for bankruptcy protection in April. “UCANN has filed for Chapter 11 bankruptcy and so that partnership is now on hold,” Managing Director of Lasco Manufacturing Limited, James Rawle, told the Financial Gleaner just ahead of the company’s annual general meeting on Tuesday. Rawle was also named recently as deputy chairman of both Lasco Manufacturing and its sister company Lasco Distributors Limited. Plans for the […]

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A budding product: Jamaica cannabis dispensary touts 'world class' experience – Travel Weekly

High-end cannabis has made its way to Jamaica’s west coast, although that’s not new news to anyone familiar with the destination. Hedonism II, the iconic adults-only playground — a clothing-optional, lifestyle-friendly, party-hardy resort in Negril — opened its newest guest amenity earlier this summer. HedoWeedo is its medicinal marijuana dispensary located within the resort although is independently owned and operated and not part of Hedonism’s all-inclusive experience. Hedonism II joins several other ganja-friendly resorts in Jamaica offering access to weed, including six properties near Negril and one near Port Antonio, under the GanjaVacations umbrella. In the case of GanjaVacations, the […]

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Australia's interim CBD decision • Jamaica wants cannabis banking fix • GW Pharma pushes on MS in US • & more… – Cannabis Wire

The Cannabis Wire Daily newsletter is sent to C-Wire Plus subscribers every weekday morning at 7 a.m. Excerpts are published here later in the day. Don’t miss the full picture. Subscribe now. An interim decision on CBD in Australia. The Advisory Committee on Medicines and Chemicals Scheduling of the Therapeutic Goods Administration made the interim decision on CBD with regard to two proposed amendments to the scheduling of CBD.  In short, the decision is “not to amend the current Poisons Standard to exclude cannabadiol from scheduling and allow its general sale” and instead to “amend the current Poisons Standard to down schedule cannabadiol to allow greater access through […]

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CLA committed to facilitating cannabis import/export – Government of Jamaica, Jamaica Information Service

Director of Research Development and Communications at the Cannabis Licensing Authority (CLA), Felicia Bailey, says the agency is committed to facilitating the import and export of cannabis until the import/export regulations are promulgated. Under the Interim Measures, licensees can export cannabis inflorescence/buds and extracts from Jamaica to jurisdictions across the world. CLA licensees have exported to countries such as Canada, Australia, Israel, Zimbabwe and the Cayman Islands. “Getting into the global space is what we are aiming for, as becoming global players is very important, and that is why we are doing all that we can to ensure that our […]

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Why Are Canadian Cannabis Companies Leaving Jamaica? – Market Realist

Aphria (NYSE:APHA) owns a 49% stake in Marigold Projects, which owns cultivation, processing, and retailing licenses in Jamaica. Speaking to Forbes online, a former Aphria employee stated that the company decided not to make any more investments in Latin America and the Caribbean. The former employee said that the company has laid off 200 employees to downsize its operations. Citing MJ Biz, the Forbes article stated that The Green Organic Dutchman (TSE:TGOD) has shunted its pursuits to explore Jamaican markets. It will focus on reviving its Canadian operations. Aurora Cannabis (NYSE:ACB), which had recently reported impressive third-quarter earnings, has been […]

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