EU's First-Ever Cannabis Licenses Permitting Non-Profits To Grow & Distribute Issued In Malta

The first two operational licenses for marijuana associations in Malta have been finally granted. KDD Society and Ta' Zelli are the first associations to obtain them, which means they are now allowed to legally grow their cannabis, writes Malta Today.

The first licenses come nearly two years after Malta became the first country in Europe to legalize recreational cannabis.

Under Malta’s cannabis law, only “cannabis harm reduction associations” are licensed and regulated to grow and sell cannabis. These associations must be non-profit, can only sell their product, and are not allowed to advertise, put cannabis in the name, or promote marijuana use in any way. Before any sale, marijuana must be tested by the Authority for The Responsible Use of Cannabis (ARUC),.

At a press conference Tuesday, executive chairperson ARUC, Leonid McKay confirmed that this month, the first operational licenses were granted. He added that ARUC will not be in charge of regulating prices, but that the prices should compete with that of the illegal market.

See Also: Europe's High: Irish GPs Against Pot, Switzerland-Spain Share Data On Cannabis Clubs & More

“Our goal is simple: shift cannabis users away from the risks of the illicit market to a secure, quality-tested source, all without promoting more cannabis use like a free-for-all commercial market would,” McKay wrote in a LinkedIn post. “We're committed to avoiding the pitfalls of a business-driven cannabis industry, which often targets young and heavy users, glamorizes use, and plays down health risks. Our values remain rooted in harm reduction, protecting at-risk groups, public health, and social justice.”

Under the country’s law, these non-profit cannabis associations must donate a portion of their income to support harm reduction efforts. A contribution of 5% of their total income must go to ARUV for harm reduction, while an extra 10% will be used to fund educational initiatives and projects aimed at reducing drug use.

Parliamentary secretary for reforms and equality, Rebecca Buttigieg stated that the new licenses mark a historic moment for Malta.

Did you miss the first wave of cannabis investments? Don’t make that mistake again.

 Experts believe cannabis stocks have found their floor and are now poised for unprecedented growth. Join Benzinga PotProfits. Benefit from Michael Berger’s sharp analysis, revealing top cannabis stock opportunities and timely updates. Experience the potential of 10%+ returns in just 90 days. Our 4.5-star Marketfy rating speaks volumes. Secure your position in this booming sector with a 30-day money-back guarantee. The time to invest is now before everyone else realizes it. Secure your profits with Benzinga. Click here now to learn more.

Photo: Benzinga edit with images by id23 and Matthew Brodeur on Unsplash