Mexico is one of the most excited emerging international cannabis markets and is an opportunity that we have been highly focused on.
Mexico’s legislation to legalize recreational cannabis has hit a snag and it may take a few months longer than expected for it to pass. We believe Mexico’s recreational cannabis market will open and it is a matter of when, not if.
Earlier this week, Cannabics Pharmaceuticals Inc. (OTCQB: CNBX), a penny stock cannabis company, reported to have received Notice of Allowance from the Mexican Patent and Trademark Office (IMPI) in relation to its patent for a system and method for high throughput screening of cancer cells.
The granting of the notice from Mexico’s patent authority comes after the European Patent Office (EPO) issued an Intention to Grant a European Patent notice to the company in October 2020. The notice that was issued from Europe’s patent office covering the same application that was filed in Mexico.
Although we have been following Cannabics from the sidelines, the patent has already been granted in Israel and South Africa. These approvals are a testament to the company’s innovative and novel approach to the drug discovery process and we will monitor how the story advances from here
As it relates to the Mexican cannabis market, we prefer operators like Canopy Growth Corporation (WEED.TO) (CGC), Aurora Cannabis Inc. (ACB.TO) (ACB), and Khiron Life Sciences Corporation (KHRN.V) (KHRNF). While the patent that Cannabics has been focused on is significant, the company needs more resources to execute on its growth strategy and we will continue to closely follow how the Mexican cannabis market evolves from here.
If you are interested in learning more about the Mexican cannabis market, please send an email to email@example.com with the subject “Mexican Cannabis Market” to be added to our distribution list.
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