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Thursday, December 7, 2023

Cannabis Weekly Round-Up: Cookies Brand Makes Leap to Europe

This week, a popular cannabis brand based in the US marketplace confirmed an international plan for its products thanks to a new partnership.

Also during the period, a cannabinoid drug maker took a significant step forward with its current clinical trials, which are evaluating its candidate against pain related to cancer treatment.

Keep reading to find out more cannabis highlights from the past five days.

Popular adult-use brand signs international agreement

San Francisco-based cannabis brand company Cookies announced it will expand into the global market thanks to a new partnership with InterCure (NASDAQ:INCR,TSX:INCR.U), an Israeli cannabis firm.

“We look forward to reaching audiences in Austria and the United Kingdom and establishing Cookies as a mainstay in each community,” Parker Berling, president of Cookies, said in a statement.

For his part, Alexander Rabinovitch, CEO of InterCure, praised the quality of the Cookies brand and said it was “only obvious” for these products to expand into more markets.

The details shared with investors indicate that InterCure will seek to set up stores and medical cannabis pharmacies both in Austria and the UK starting in 2022.

Specialized medical cannabis company shares encouraging data set

Cannabinoid drug-maker Tetra Bio-Pharma (TSX:TBP,OTCQB:TBPMF) told investors that cancer pain drug studies involving its candidate QIXLEEF returned positive initial results from two separate Phase 2 stage trials.

Dr. Guy Chamberland, CEO of the company, said the preliminary data from these studies backs up the information obtained during the Phase 1 stage.

“A safe and efficient therapeutic alternative that allows the reduction of opioids is critical now more than ever to support patients in their journey against pain,” Chamberland said.

Both studies from Tetra Bio-Pharma are being conducted in the US.

Cannabis company news

  • Fire & Flower Holdings (TSX:FAF,OTCQX:FFLWF) will consolidate its publicly traded shares as it positions itself to gain a NASDAQ listing. Trevor Fencott, CEO of the firm, said this move represents a critical step for the company. “It enables Fire & Flower to qualify for a listing on the NASDAQ and expand its shareholder base,” he said.
  • Columbia Care (NEO:CCHW,CSE:CCHW,OTCQX:CCHWF) confirmed the inclusion of its shares in the MSCI Canada Small Cap Index. “This is a landmark achievement for Columbia Care and the cannabis industry … We appreciate the credibility and visibility that accompany inclusion in an MSCI index,” Nicholas Vita, CEO of Columbia Care said.
  • Tilray (NASDAQ:TLRY,TSX:TLRY) launched a new medical cannabis product by way of oral strips with THC and CBD. Chairman and CEO Irwin Simon said the company expects these products to help with the company’s goal of being involved in “the growing expansion of medical cannabis across the globe.”
  • Cronos Group (NASDAQ:CRON,TSX:CRON) issued a standardized report report to shareholders as part of its management cease trade order process.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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