U.S. organizations prepared to tap into Mexico’s legal marijuana business

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Particulars stay murky, but some organizations see Mexico ripe for investment and … hemp maquiladoras?

EL PASO, Texas (Border Report) – Mexico this week moved closer to legalizing the use and sale of marijuana. And whilst facts such as whether or not you require a license to develop up to six plants in your house are nevertheless up in the air, some American organizations are preparing to tap the market place.

“It’s a good chance for international organizations, Canadian and U.S., to get started investing in Mexico. I feel it would be a error not to,” stated Raul Elizalde, CEO of HempMeds, a subsidiary of Health-related Marijuana Inc.

The Chamber of Deputies this week authorized possession of individual amounts and retail sales of cannabis goods. Individuals may well consume marijuana in their residences if no minors are in the space. Mexico’s Senate previously gave consent and will have to now green-light modifications in the reduce home.

“The law passed with minimal modifications from Senate. It will return to the Senate and it is most likely it will pass quickly and be published extremely quickly,” Elizalde stated. “It essentially approves harvest of cannabis, transformation, sales and transportation of the solution.”

But do not appear for dispensaries to open the subsequent day. A Mexican supreme court April 30 deadline forced Mexican lawmakers into a “put the horse just before the cart” situation. Elizalde stated he does not anticipate final suggestions on legalization till March 2022. What he does anticipate are lawsuits. [Read More @ Fox News]

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