First Country To Legalize Weed Celebrates 6 Years Of Pot Sales; Promised Land Of Cannabis And More Global Updates

Canadian Company Can Sell Its Stash To Stay Afloat

• Tantalus Labs Ltd. received permission from a British Columbia Supreme Court to sell over 1,200 kilograms of marijuana (its remaining stock of cannabis flower).
• The decision comes after Canada Revenue Agency denied Tantalus’ excise tax license earlier, prompting financial troubles for the company. Most of Tantalus' employees were laid off as a result.
• With the license poised to expire, Tantalus could not sell its remaining inventory, which is why it sought help from the court.

Uruguay Celebrates Sixth Anniversary Of Policy Change

• During the six years of legal marijuana sales in Uruguay, the first country worldwide to legalize the recreational use of cannabis in 2013 under the leadership of former President José Mujica, pharmacies sold nearly 10.7 million grams of cannabis.
• The Institute for Regulation and Control of Cannabis released the data to commemorate six years of cannabis sales. So far, 61,509 individuals have been registered to legally buy marijuana produced by three companies sold at 37 pharmacies countrywide. Some 14,592 registered users are approved for domestic cultivation, while there are 10,486 cannabis club members across 306 clubs.

Slovenia May Be The Promised Land For Cannabis

• Why? The answer is the country’s honeybee population. Five out of every 1,000 Slovenes are beekeepers, producing some of the best quality honey worldwide. Scientists study pollen-collecting bees to determine contamination levels. Turns out, Slovenia is one of the cleanest countries on earth.
• That means it's well-equipped to produce premium cannabis, Petra Marinko, founder of food supplement and skincare company Nabie, explained.
• “We are noticing high demand for products with clean inputs, with ingredients that do no harm, and are carefully chosen and analyzed,” Marinko said. “Slovenia is a small country, but we have all the necessary knowledge and know-how to provide top-quality cannabis products.”

Price Action

• Cambria Cannabis ETF TOKE is down 0.25% at about $6 a share on Friday.
• Amplify Seymour Cannabis ETF CNBS is up 1.47% at last check on Friday, at about $3.87 a share
• AdvisorShares Pure Cannabis ETF YOLO is up 2.15% Friday at about $2.53.
• ETFMG Alternative Harvest MJ is up 3.96 % at about $ 396 .
• AXS Cannabis ETF THCX is up 1.11% at $1.82.
• Global X Cannabis ETF POTX is up 1.23% at last check on Friday, hovering at around $6.60.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

Photo: Beniznga edit of photo by Greg Rosenke and Matthew Brodeur on Unsplash