German Lawmakers Eager To See Phase 2 Of Cannabis Legalization, Weed Giant Curaleaf Considers Listing In Frankfurt

It was no April's Fool joke when cannabis legalization in Germany took effect a week ago. Even though the partial excitement marks significant progress and is exciting, lawmakers are eager to see the second phase happen. 

The "second pillar" is planned for after the decriminalization bill, and would set up municipal five-year pilot programs for state-controlled marijuana to be sold in licensed shops. Kristin Lütke, the Free Democratic Party health consultant and spokesperson for addiction and drug policy is urging health minister Karl Lauterbach to work on the second pillar writes Tagesspiegel Background. 

Ich zähle auf die Zusage von Karl Lauterbach, auch Säule Zwei der Cannabis-Legalisierung zeitnah anzugehen und einen entsprechenden Entwurf vorzulegen. https://t.co/cAge10tNQs

— Kristine Lütke MdB (@kristine_lutke) April 4, 2024

"Preparatory work on the second pillar of the cannabis laws is currently underway with the departments involved," the Federal Ministry of Health (BMG) told the outlet, as reported by Marijuana Moment. Details about the plan, however, "cannot be given at the moment."

In the meantime, neighboring countries are dealing with the first phase, with the Austrian police already planning focus campaigns on road traffic. "The main thing is to combat cross-border drug trafficking, but also to get drug drivers off the roads," said the Austrian Federal Criminal Police Office (BKA), reported Welt. 

Under the first pillar of cannabis legalization adults over 18 can legally possess up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home. 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.

Cannabis Giant Curaleaf Considers Listing In Germany 

The new European cannabis market is tempting for existing operators. One of the biggest cannabis producers in the world, Curaleaf CURLF, is considering a secondary listing in Europe, including in Frankfurt and London, writes Financial Times. 

"We're very much interested in a European listing", said Juan Martinez, the head of Curaleaf International, who added that current restrictions meant "the only listing in Europe that is possible is a very limited listing in the second board of Frankfurt. We are actively exploring avenues to bolster shareholder value, which includes discussions with various exchanges, including those in Germany and London."

The company already strengthened its presence in Germany via the recent marijuana acquisition of Northern Green Canada. Boris Jordan, the company’s executive chairman and one of the keynote speakers at the Benzinga Cannabis Capital Conference, praised this move. 

Jordan recently told Benzinga that Germany, with a population of 80 million, could be a "home run market" for adult use despite the growing pains it may experience.

"I really think that's going to be a great market," Jordan said.

Price Action

Curaleaf shares closed Friday market session 7.49% higher at 5.60 per share. 

See Also: It’s Official: Germany’s Partial Cannabis Legalization Takes Effect In April

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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!

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