INDIVA LIMITED
Another Canadian cannabis producer pauses production over ‘edibles’ dispute with Health Canada
Indiva Limited has halted production of some of its products due to a disagreement with Health Canada over the classification of its cannabis lozenges, reports MJBiz. The government agency has notified the Ottawa-based company that some of its products have been improperly classified as an “extract” instead of an “edible”.
The company has paused production of the products in question while it consults with advisers to determine the next steps. Indiva sells lozenges in packages with up to 500 milligrams of THC by classifying them as extracts rather than edibles. However, the allowable limit for cannabis products classified as edibles is only 10 milligrams per package.
“Prior to the launch of the Products, the company closely considered the regulatory requirements of the legislation, including with respect to product classification, and conducted substantial research,” Indiva’s statement said.
“Consistent with the legislative requirements and the Company’s research, the company classified the products as cannabis extracts.”
TORONTO STOCK EXCHANGE
US cannabis company TerrAscend applies for Toronto Stock Exchange listing
Leading US cannabis operator TerrAscend Corp. has applied to list its common shares on the Toronto Stock Exchange (TSX), reports Proactive. To meet the TSX’s minimum listing requirements, the company plans to first implement an internal reorganization that will require approval from existing shareholders.
However, the listing remains subject to TSX review and satisfying all listing and regulatory requirements. The company warned that there is no guarantee that the TSX will approve the listing application or that it will complete the proposed reorganization and listing.
TerrAscend has vertically integrated operations in Pennsylvania, New Jersey, Maryland, Michigan, and California, as well as licensed production in Canada. The company operates dispensary retail locations, The Apothecarium, and Gage, as well as cultivation, processing, and manufacturing facilities in its core markets.
“While the United States regulatory environment continues to evolve, we are grateful for the leadership of the TSX, which provides issuers with sensible oversight and regulation in a complex sector to ensure investor protection and capital markets integrity,” TerrAscend executive chairman Jason Wild said in a statement.
UNITED NATIONS
UN recommends that US federal government should demand states revoke marijuana legalization
The drug control body of the United Nations (UN) has indicated that the U.S. is in violation of a long-standing international drug treaty by allowing individual states to legalize marijuana without federal intervention, reports Marijuana Moment.
Although the International Narcotics Control Board (INCB) has regularly criticized countries for legalizing cannabis, citing their obligation to uphold the 1961 Single Convention that mandates prohibition, a portion of its recently published annual report is noteworthy as it seemingly alludes to the ongoing state-level cannabis reform initiatives in the U.S.
“In States with a federal structure, a special issue may arise with respect to whether the federal Government may be held accountable if a federated entity implements legalization, which violates the conventions, while the federal Government does not have the power to compel the federated entity to fulfill the treaty obligations,” the report says.
