After lawmakers missed the deadline and failed to ask for an extension, rumors about a special legislative session after Mexico holds elections this month started to surface.
According to a study that was conducted by Grand View Research, the global legal market for cannabis could be worth $73.6 billion by 2027.
According to leading cannabis market research firm New Frontier Data, Mexico’s annual cannabis sales would be between $1.8 billion and $2 billion.
A few weeks ago, Cannabics reported an important milestone and announced that its patent for a System and Method for High Throughput Screening of Cancer Cells was granted by the European Patent Office.
Last month, Cannabis received a Notice of Allowance from the Mexican Patent and Trademark Office and we will be closely monitoring how the management team is able to drive the story forward.
With more than $2 billion of cash on the balance sheet, the Canadian cannabis producer is well positioned to acquire strategic assets and expand its footprint in Mexico.
We believe the Mexican cannabis industry is not even in the first inning of a major growth cycle and this is a market that we are closely following.
Pursuant to an agreement between StoneBridge Partners LLC and Cannabics Pharmaceuticals Inc.
All information that we provide is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities.