World Wrap: Canada, Italy, Jamaica, Luxembourg


Title:  Canadian cannabis companies find funding alternative with debt financing

Author: MJ Biz

Date: 17 April 2018



Canada’s capital-hungry cannabis companies are increasingly turning to debt financiers to fuel growth as the country marches toward legalization late this summer.

With no marijuana sales yet and lingering regulatory hurdles, some lenders – namely the big banks – have been hesitant to step in.

That has allowed firms like Cannabis Wheaton, CannaRoyalty’s Trichome Yield Corp. and a number of Alberta-based credit unions to provide much-needed capital.

Debt financing – including convertible bonds, debentures and term loans – is a game-changer for the industry, according to Terry Booth, CEO of Alberta-based Aurora Cannabis.



Title: Cannabis Flowers Are Legal in Italy. You Just Can’t Eat or Smoke Them.

Author: NYT

Date: 22 April 2018



“Doctors have begun to see the importance of medical cannabis,” he said. In September, pharmacies throughout Italy ran out of medical marijuana, prompting many patients with prescriptions to turn to the black market. “The state isn’t respecting its own laws,” said Carlo Monaco, an owner of Rome’s …


Title: Jamaica’s central bank asked to solve cannabis banking issues

Author: MJ Biz

Date: 18 April 2018



Jamaica has asked its central bank to find a solution to banking issues that are tripping up development of the country’s medical cannabis industry.

Daryl Vaz, minister without portfolio in the Ministry of Economic Growth and Job Creation, said the government considers medical cannabis a potential catalyst for the country’s struggling economy, the Jamaica Observer reported.

Vaz said MMJ companies are excluded from the formal banking sector because of existing laws and banking regulations.

“The whole issue of banking arrangements, formal banking arrangements, has to be addressed,” he said.



Title: Luxembourg’s medical cannabis law nears completion

Author: Luxembourg Times

Date: 18 April 2018



The law legalising the use of medical cannabis in Luxembourg is almost complete, as parliamentary discussions began on Tuesday led by the Health Committee.

The legislation will allow doctors to prescribe cannabis in cases where conventional treatments fail to relieve patients’ pain.

Cécile Hemmen of the LSAP said work on the draft law was “almost finalised”.

One major change to the initial text originally presented by the Health Ministry is that the ability to prescribe will not be reserved for specialised physicians only.

Other doctors, including general practitioners, will be able to prescribe therapeutic cannabis to patients, provided they follow a special training course and are subsequently approved.

This change follows the advice of the Luxembourg State Council.

The drug will be reserved for pharmacies serving the four hospitals in the Grand Duchy, going against the wishes of several MPs, who called for local and regional pharmacies to be given access as well.

Luxembourg is one of the first countries in Europe to introduce such legislation, according to the Chamber of Deputies website.

The effects of the legislation are to be examined two years after the law is passed.








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