Weed Legalization In Germany Just Took Effect: Here's What You Need To Know

Adults over 18 in Germany can legally possess up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home. And no, this is not an April Fools' Day prank.

Beginning July 1, adults can also join not-for-profit social clubs where they can buy up to 25 grams of cannabis, with a cap of 50 grams per month. That cap is 30 grams for members under 21 years old.

The new law goes into effect on Monday, April 1, following approval from both the Bundestag and Bundesrat that allows for partial cannabis legalization.

The policy change makes Germany the third country in Europe to legalize adult-use marijuana after Malta and Luxembourg.

Cannabis giants like Aurora Cannabis Inc. ACB ACB and High Tide Inc. HITI HITI 2LYA were among the first to celebrate the enactment of the new law.

Miguel Martin, Aurora’s CEO, called the expansion of legal cannabis in Germany an important strategic priority for Aurora. He's been eyeing the European market for years.

“I know we’re all consumed with what’s happening here in the U.S., and that’s a big part, but I would encourage you to spend time on what’s happening in Germany or Israel or France or the U.K. or even now the Netherlands, which is a $2.5 billion market that’s equally the size of Canada,” he said at a previous Benzinga cannabis event.

The Benzinga Cannabis Capital Conference returns to Florida this month where a slew of industry veterans and advocates will share their industry experiences. No doubt Europe will be on the menu. The two-day event at The Diplomat Beach Resort tucked between Miami and Ft. Lauderdale along Hollywood’s Gold Coast will take place on April 16 and 17.

Dirk Heitepriem, Aurora’s VP of external affairs recently told Benzinga that Aurora will "advocate for the preservation and further expansion of the medical market." 

Under the new law, medical cannabis in Germany is no longer classified as a narcotic and can now be prescribed by physicians.

Heitepriem added that "while it will probably take years for the German recreation market to become a reality, Aurora is well poised to be successful when the time comes for this significant market to open, leveraging our global and domestic experience."

Raj Grover, founder and CEO of  High Tide, the second-largest cannabis retailer in North America, said the company is ready to jump on the opportunity. In January 2023, High Tide signed a non-binding letter of intent (the LOI) with the Berlin-based health and life science company, Sanity Group.

"Later this month I will join our Chief Communications and Public Affairs Officer in Berlin, as we look to expand relationships with an eye to facilitating our entry into this lucrative market as soon as possible,” Grover said on Monday. “Our experience as the second largest cannabis retailer in North America, combined with our strategic relationship with Berlin-based Sanity Group, positions High Tide well to bring our first-of-its-kind cannabis discount club model, powered by the Cabana Club."

Now read: These 2 Canadian Cannabis Companies Forge Ahead In European Markets With German, Dutch Ventures

 ACB Price Action

Aurora's shares traded 0.2278% higher at $4.4 per share during the pre-market session on Monday morning.

HITI Price Action

High Tide's shares traded 3.45% higher at $2.1 per share during the pre-market session on Monday morning.

The Benzinga Cannabis Capital Conference is returning to Florida, in a new venue in Hollywood, on April 16 and 17, 2024. The two-day event at The Diplomat Beach Resort will be a chance for entrepreneurs, both large and small, to network, learn and grow. Renowned for its trendsetting abilities and influence on the future of cannabis, mark your calendars – this conference is the go-to event of the year for the cannabis world.

Get your tickets now on bzcannabis.com – Prices will increase very soon!