TORONTO, Dec. 04, 2020 (GLOBE NEWSWIRE) -- Further to its news releases dated March 26, April 4, and July 2, 2019, Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) (FRA: 1OA) (the “Company” or "Blueberries"), a Latin American licensed producer of medicinal cannabis and cannabis-derived products is pleased to announce that the Company has completed the acquisition of BBV Labs Inc. (“BBV”), a corporation formed under the laws of the Republic of Panama, pursuant to the previously announced share purchase agreement (the “Purchase Agreement”).

Argentina’s government on Thursday legalised the growing of cannabis for medical use by individuals and networks, as well as the sale of creams and oils made from the plant in pharmacies.

The move was made official via the publication of a decree published in the Official Gazette. The new rules are revisions to a law first approved back in March 2017 that authorised the medicinal use of cannabis oils, but maintained an existing prohibition on the cultivation of the plant and the possession of seeds by individuals or groups.

The new decree, signed by President Alberto Fernández, seeks to allow "timely, safe, inclusive and protective access for those who need to use cannabis as a therapeutic tool," according to its text.

As of this Wednesday, Argentina will now allow home cultivation of cannabis and the sale of cannabis oils and topicals in pharmacies, which has not been included under the legal cannabis laws so far. Cannabis patients will also now have access to their medicine free of charge. 

This new regulation was drafted by the Argentinian Health Minister and other key stakeholders, and represents a huge step forward for cannabis in Argentina.  

When talking about cannabis legalization, countries like Canada, the US, and Spain are thought to be the most progressive. However, many of the firsts of marijuana legalization happened not in these places, but in South America. One of the interesting stories out of this region, is Argentina.

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Latin America’s cannabis market is poised to become a central piece in the development of a legal global cannabis industry. With land and weather perfectly fit for cannabis cultivation, relatively low labor costs, and a strategic location for exports into North America, the region is on its way to becoming an important cannabis hub.

Some markets like Colombia are welcoming investments from some of the top cannabis companies like Canopy Growth, Aurora Cannabis, Cronos Group and Aphria. 

For the last ten months Argentina’s provincial government, the National University, and the National Secretariat of Science and Technology have worked on launching a medical cannabis research effort.

That ten-month effort culminated with Argentina’s Ministry of Science and Technology recently signing an agreement with a local government, the National University, and other entities.

As cannabis laws continue to be reformed across the globe the stigma surrounding medical cannabis is fading. More and more patients are turning to the cannabis plant for relief.

When PharmaCielo, now a publicly traded company, formed in 2014 to cultivate medical cannabis in Colombia, some growers needed convincing. Some came from families that farmed chrysanthemums for generations. Cannabis was largely illegal and stigmatized. Scars from the nation's decadeslong drug war were fresh. A peace deal between the government and leftist FARC rebels was two years away. North America's marijuana stocks boom had not begun.

Blueberries Medical Corp. (CSE: BBM) (OTCQB: BBRRF) (FRA: 1OA) (“Blueberries“), a leading Latin American licensed producer of medicinal cannabis and cannabis-derived products and SLANG Worldwide Inc. (CSE: SLNG), (