News

The CBD-Focused Company Is the Next Step In The Legal Cannabis Business In Mexico

A statement from the company says that the local branch of Xebra Brands, which is based in Canada, is the first company to get permission to grow, process, make, and sell cannabis in Mexico. The approvals are the latest step in a big change away from Mexico’s decades-long policy of making a plant that used to be a big source of money for powerful drug gangs illegal.

On Thursday, Mexico’s new legal cannabis industry welcomed its first company that is allowed to grow at an industrial scale. The company is focusing on a growing niche market that has little to do with the way the flowers of the plant change your mind.

ALSO READ: Two Were Arrested, and Four Guns And Marijuana Were Found

A statement from the company says that the local branch of Xebra Brands, which is based in Canada, is the first company to get permission to grow, process, make, and sell cannabis in Mexico.

The approvals are the latest step in a big change away from Mexico’s decades-long policy of making a plant that used to be a big source of money for powerful drug gangs illegal.

In late 2021, Mexico’s Supreme Court gave Desart MX, a subsidiary of Xebra Brands, permission to import seeds and grow, process, sell, and export cannabis products with 1% or less THC, the psychoactive part of the plant.

Desart MX is more interested in selling products with cannabidiol, or CBD, which is another part of the plant. CBD doesn’t get people high, but it is used to treat things like insomnia, pain, and anxiety.

The health regulator in Mexico, COFEPRIS, gave final approval at the end of February. This was written in a court document this week, the company said.

In its statement, Xebra Brands said that there are no limits on where it can grow cannabis in Mexico, how big its facilities can be, or how much it can process.

In the statement, Xebra Brands CEO Jay Garnett said, “This is a big deal for cannabis around the world.”

In a late-2021 interview with Reuters, the company’s former president said that regulatory approvals would make Mexico the most important North American player in the industry.

Xebra Brands also said that it is actively looking for farmland and a place to build an extraction facility to make CBD-rich hemp derivatives.

In 2021, Mexican lawmakers passed a law that made it legal to use cannabis for recreational, scientific, medical, and industrial purposes. However, the Senate has yet to pass the necessary regulations.

Avatar

Mohit Sharma

About Author

Leave a comment

Your email address will not be published. Required fields are marked *

You may also like

News

‘All this silliness’ - UK cannabis chocolate bar case dropped

A couple who faced drug charges over cannabis-laced chocolate bars have had the case against them dropped. Prosecutors said they
News

Testing lab shut down over contaminated weed

A cannabis testing lab in Las Vegas has been shut down after it approved products with unacceptable levels of mould,