(Image via Xebra Brands Ltd.)
International cannabis cultivation and product company,
Xebra Brands Ltd. (CSE: XBRA, Forum) has been informed that the Mexican Supreme Court will convene on Wednesday, December 1st.
The supreme court will deliberate and vote on a claim by Xebra’s wholly-owned Mexican subsidiary, Desart MX, SA de CV, to
obtain an injunction that could provide Xebra with an
outright first-mover advantage in the Mexican CBD and CBG market.
If an injunction is granted, Xebra could be authorized to operate regardless of whether or not Mexico legalizes cannabis, and the injunction would apply only to Xebra.
Xebra believes Mexico has the potential to be one of the largest near-term country cannabis consumer markets in the world once cannabis is legalized. Mexico is also within the North American free trade zone (USMCA), giving it considerable cultivation and product manufacturing cost advantages over Canada and the United States.
Xebra believes that there is sufficient precedent to suggest the majority of North American industrial-scale cannabis production activity will occur in Mexico.
The upcoming hearing is the culmination of a three-year legal strategy, challenging the unconstitutionality of Mexican cannabis law. The claim successfully navigated lower courts and is now scheduled for the Supreme Court.
The injunction, if granted, would allow for the commercialization of CBD and CBG derived from hemp. Export activities could also potentially be possible.
(Xebra Brands Ltd. stock chart – Oct 2021 to Nov 2021. Click to enlarge.)
XBRA stock has risen 158.3% in the past month on speculation of the highly anticipated Supreme Court decision.
For more info and regular updates, visit
xebrabrands.com.
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