March 12 2021,



The lower chamber of Mexico's legislature voted to legalize, paving the way for the world's largest REC market.

  • While the bill’s merits for good governance and the country’s economy are disputed, legalization presents a significant business opportunity for domestic and international firms.
  • I spoke to Emily Paxhia, managing partner at investment firm Poseidon Asset Management, about what to expect as the Mexican industry revs up.
  • In a week which brought big news that MSO Curaleaf is expanding into Europe, Mexico is a very different situation. “Europe is a smaller market and we have to think very sensibly about the cost to manufacture and distribute.” Paxhia said. “I'm very interested in Latin America [Columbia and Mexico in particular] and how they can contribute to the global supply chain.”

Make a run for the border.

Meanwhile, Politico suggests being sandwiched by legal countries will increase pressure on President Biden to follow suit. Unlike most prominent Democrats, he has not endorsed legalization.


A new group which includes representation from the alcohol, tobacco, insurance and security industries has formed to influence cannabis policy. The Coalition for Cannabis Policy, Education, and Regulation, believes federal legalization is inevitable and seeks to shape how it happens.

  • The executive director is Andrew Freedman, who served as Colorado's first cannabis "czar."
  • The group's policy priorities aren't yet clear, and it has created a "center of excellence" which includes several researchers and outside experts.
  • “Where possible, we're going to consensus build. But when there is significant divergence [on an issue], we're going to be transparent about that significant divergence,” Freedman said. 

Everyone wants a piece.

Quick Hit

  1. British American Tobacco, maker of Lucky Strikes, invested $176.6M in Canadian operator Organigram. Organigram's stock soared on the news.
IN THE NEWS — 3/13/21

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