Uruguay loosens medical cannabis rules, makes possible new hemp varieties

Uruguay made the headlines 17 month ago by being the first country to completely decriminalize marijuana use, a decision that was not without controversy and opposition – for example, the country’s pharmacies have refused to distribute the product. But that’s recreational cannabis; this report is about medical cannabis and here, again, Uruguay seems to be setting the pace: it was the first nation in the world to fully legalise the research and development, as well as cultivation, distribution, sale and consumption of non-synthetic cannabinoids and hemp.

Enter a junior Australian exploration company looking for a new direction. International Goldfields (ASX:IGS) has 35% of a Brazilian gold project, and earlier this year considered and then dropped acquiring a West Australian precious and base metals target. Now it is entering the medical cannabis business by taking an 85% interest in Winter Garden Biosciences, a pharmaceutical company based in Uruguay that is developing...

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