germany to legalize recreative cannabis sale Key Takeaways; Cannabis Sector
-
Gage raises $55 million to fuel its marijuana growth in Michigan.
-
Ayr Wellness to acquire two Chicago cannabis stores for at least $55 million.
-
Canada’s High Tide to acquire 80% of Colorado CBD firm NuLeaf Naturals.
-
Germany to legalize recreational cannabis sales, incoming coalition pledges.
Key Takeaways; Psychedelic Sector
-
Numinus Receives Conditional Approval to list on the Toronto Stock Exchange.
-
COMPASS Pathways granted fifth U.S. patent for crystalline psilocybin.
-
Cybin Makes Grant to Establish Psychedelic Treatment Clinic.
-
Awakn signs a partnership with NHS to increase access to psychedelic-assisted psychotherapy.
The marijuana boom during the pandemic boosted the U.S. cannabis companies’ revenues. Even though the recent third-quarter results for some weren’t up to the mark, revenue still continues to grow. Most of the domestic cannabis growers have established a strong market presence with wise growth strategies.
In this week’s roundup, we begin in Germany, whereby the three parties expected to form the next government in Germany have agreed to regulate the distribution and sale of recreational cannabis, according to a coalition agreement released Wednesday, November 24.
Europe’s largest economy taking a step toward marijuana legalization and regulation is being viewed as a significant achievement by social groups that have long advocated for an end to cannabis prohibition. Businesses and Companies are hoping to profit from sales of the drug under the watchful eye of government regulators.
As state and global legalization of cannabis ramps up and the prospect of federal legalization in the U.S. rises, the domestic and international players in the sector will have ample opportunities to expand.
Top Marijuana Stocks for Week
#1: Gage Growth
Gage Growth Corp. (OTC: GAEGF) is innovating and curating the highest quality cannabis experiences possible for cannabis consumers in the state of Michigan and Canada and bringing internationally renowned brands to market. Through years of progressive industry experience, the firm’s founding partners have successfully built and grown operations with federal and state licenses, including cultivation, processing, and retail locations. Gage’s portfolio includes city and state approvals for 19 “Class C” cultivation licenses, three processing licenses, and 15 provisioning centers (dispensaries).