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Medical Cannabis Latin America & Caribbean MEDICAL CANNABIS LATIN AMERICA & CARIBBEAN SPECIAL REPORT 17 56 59 72 CULTIVATING BUSINESS PHARMACEUTICAL & MEDICAL SERVICES & TECHNOLOGY EVENTS Progressive, inclusive medical CBD popularity is surging across The medical cannabis industry A robust events industry cannabis policies can have a the continent as regulatory is birthing a range of secondary has grown around the significant social impact regimes jump to legalize it services across the region medical cannabis sector Image: Nader Ahmed, IndicaOnline Contents 1 FROM THE EDITOR’S DESK Managing Director LATAM Han Le Regional Director LATAM Federica Fermo Country Managers Blanca Bañares, Giulia Di Loreto THE BUSINESS YEAR: Country Editors Alejandra Gómez Arreola, Juan Pablo Vásquez Pedraza, Juan Manuel Mejía Salazar, Enrique José García, MEDICAL CANNABIS Daniel Alarcón Project Assistant LATIN AMERICA Angie Serrato Chief Executive Officer Ayşe Hazır Valentin Editor-in-Chief & CARIBBEAN Peter Howson Senior Editor Terry Whitlam Writer/Editor SPECIAL REPORT Evan Pheiffer Associate Editor Liz Colavita Chief Sub-Editor Shireen Nisha Sub-Editors Kabir Ahmad, Alia Kıran Editorial Coordinator Belemir Ece Çolak Web Editor Aidan McMahon Web Assistant & Social Media Coordinator Ahsen Durukan Web Developer Volkan Görmüş Assistant Web Developer Zişan Yalçınkaya Analytics Assistant Sena Özcanlı Art Director Emily Zier-Ünlü Junior Art Director Emre Boduç Senior Motion Graphic Designer Serkan Yıldırım he Business Year’s Special Report on market, and as the ideal exporter to its neigh- Motion Graphic Designer Medical Cannabis in Latin America bor and largest cannabis (medical or other- Yiğit Yeşillik T Senior Graphic Designers and the Caribbean is the second entry wise) market, the US, but has yet to clear the fi- Bilge Saka, Şule Kocakavak in our medical cannabis series, building upon nal obstacles in the country’s legal process and Contributors our inaugural report on the Colombian market. in its generally socially conservative society. Mark Szawlowski While legislative progress did not move as rap- Jamaica has perhaps the best built-in country Transcribers Michael Mariaud, Adrian Espallargas, idly as hoped in some markets, such as in Mex- branding, ideal growing conditions, as well as Susan Barrett, Heather Conover, Kevin Mataraci, Jeffrey Rogers, ico, 2019 also witnessed other markets such a long history of local expertise in growing the Emily Damgalı, Jason Shaw, as Brazil reaching long-awaited liberalization plant. How will it leverage these advantages to Emi Teruya, Oscar Crespo, milestones. This report is a comprehensive ex- become a major player and investment des- Cain Day, Gillian Docherty HR Manager amination of that progress and of the current tination? Colombia may have a head start in Merve Yıldırım investment climate throughout Latin America comparison to its neighbors, but it is experi- PR Manager and the Caribbean. To understand how these encing its own regulatory and licensing bottle- Şölen Cenberoğlu Operations Manager developments are shaping local markets and neck. How can the country maintain its posi- Öznur Yıldız global investor attitudes on the region, The tion as other markets begin to liberalize? Brazil Operations Assistant Business Year sat down with the industry lead- made huge international waves by opening up Can Ünsan ers, local entrepreneurs, regulatory adminis- its domestic market, while still prohibiting cul- Office Coordinator Gamze Zorlu trators, government legislators, legal advisors, tivation. Finance Director medical researchers and global investors that It is true that the entire industry is in an ex- Serpil Yaltalıer are driving medical cannabis forward. citing stage of flux, but nowhere is this more Finance Assistant LATAM Fernando Amezcua Estrada Perhaps what makes the medical cannabis apparent and abundant than in Latin America Accounting Manager industry most interesting in the region is the and the Caribbean. While no one can know for Quenie Ann Gonzales differences of development model that each certain what will happen next, the interviews Office & Finance Assistant country is pursuing, as well as the variety of with the people who will be responsible for this Lovely Mae Jesalva advantages available. Mexico, for example, has region’s future can be found on the following enormous potential as a producer, a domestic pages. ✖ MEDICAL CANNABIS LATIN AMERICA & CARIBBEAN SPECIAL REPORT 7 8 26 38 Published 1 From the editor's desk 10 CULTIVATING 30 REGULATORY 1Q20 5 Rodrigo Arcila Gómez, Executive BUSINESS & LEGAL President, Colombian Association of Cannabis Industries 11 Yes we can-nabis • Chapter 31 The need for clarity • Chapter (Asocolcanna) • Interview summary summary 6 An opportunity • Spotlight feature: 14 Álvaro Torres, CEO & Director, 34 Lincoln Allen, CEO, Cannabis Key players Khiron Life Sciences Corp. Licensing Authority (CLA) • Interview • Interview 7 Vicente Fox, Former President of Mexico, Member of Board of 16 David Attard, CEO, PharmaCielo 35 Margarita Cabello Blanco, Directors, Khiron Life Sciences Corp. • Interview Colombian Minister of Justice • Interview and Law • Interview 17 The deeper the roots • Focus: 8 Steve DeAngelo, Founder, Last Social impact 36 High expectations Prisoner Project • Interview • Communiqué: Legal 18 Carlos Velásquez, Chairman, 9 Juan Manuel Galán, Former FCM Global • Interview 38 Julio César Aldana Bula, General Senator, Congress of Colombia Director, The National Institute of 19 Alejandro Marín, CFO, • Interview Food and Drug Surveillance (Invima) FCM Global • Interview • Interview 20 Voices from the sector 39 Juan Diego Álvarez, 22 Johanna Urrego, CEO, Kure VP of Regulatory Affairs, Khiron Life Medical Solutions • Interview Sciences Corp. • Interview 23 José J. Bitar, Executive 40 Diego Ruíz, Regulatory Affairs President, GAIA HEALTH Officer, FCM Global • Interview • Interview 41 Felipe Velásquez, CEO, 24 Michael Nistorescu, CEO, and FCM Global • Interview Eduardo Mayorga, President, 42 Raúl Buriticá, Partner, CannaVerde Pharma • Interview Buriticá Abogados • Interview 26 Diane Scott, Group CEO, Jamaica 43 Xavier Valverde Carcache Medical Cannabis Corporation Group Partner, Prætorium • Interview of Companies (JMCC) • Interview 44 Back to legalization 27 Sebastián Salazar Fuentes • Communiqué: Legal status CEO & Founder, Botaniktech of hemp in Ecuador • Interview 47 Jasiel Espinosa, President, 29 A company with a humanistic Fundación Ananda & President, focus • Communiqué: GAIA HEALTH Hemp Solution Latinoamerica • Interview Contents 3 51 63 74 82 48 PHARMA- 58 SERVICES 72 EVENTS 80 INVESTMENT CEUTICAL & TECHNOLOGY 72 The big show • Chapter SPOTLIGHT summary & MEDICAL 59 The only way is up • Chapter 80 Fresh greenbacks • Chapter summary 74 Cassandra Farrington, summary 49 Feel-good factors • Chapter Co-founder & Chair of the summary 60 Chris Bolton, COO, theracann 82 César Gutiérrez, Managing Board, Marijuana Business Daily INTERNATIONAL • Interview Partner, Bastion Capital Advisors 51 Martha Oyuela, Health Vice (MJBizDaily) • Interview (BCA) • Interview President, Khiron Life Sciences Corp. 63 Zachary Venegas, CEO, Helix TCS 75 International events • B2B • Interview • Interview 84 Juliana Trujillo, CEO & President, 76 Julián Tobar, CEO, ExpoCannaBiz Green Queens Colombia S.A.S. 53 Elsa Navarro, Skin Unit Manager, 64 Ángel Paul Proaño, Director of • Interview • Interview Khiron Life Sciences Corp. Sales and Marketing, Western States • Interview • Interview 78 Douglas Gordon, Founder, 85 Daniel Molano, CEO, Cannagustin CanEx Jamaica • Interview • Interview 54 Frank LaMadrid, Owner, 67 Giadha Aguirre de Carcer, Cannabis Medical by Frank LaMadrid Founder & CEO, New Frontier Data 79 Carol Ortega, CEO, Muisca 87 Diego Triana, CEO, Virgin • Interview • Interview Capital Group • Interview Cannabis • Interview 56 CBD: the sina qua non of a good 68 Coen Esser, Managing Director night’s sleep? • Focus: CBD for Colombia and Central America, Control Union Colombia • Interview 57 José Lugardo Espejel, Founder & CEO, Sativa Care • Interview 71 Mauricio Name, CEO, Garden Supply South America • Interview Read more at thebusinessyear.com/colombia The Business Year is published by The Business Year International, Trident Chambers, P.O. Box 146, Road Town, Tortola, British Virgin Islands. Printed by Uniprint Basım San. Tic. A.Ş., Ömerli Mah. Hadımköy - İstanbul Cad. No:159 Hadımköy Arnavutköy 34555 İstanbul/Türkiye. The Business Year is a registered trademark of The Business Year International, Copyright The Business Year International Inc. 2020. All rights reserved. No part of this publication may be reproduced, stored in a retrievable system, or transmitted in any form or by any means, electronic, mechanical, photocopied, recorded, or otherwise without prior permission of The Business Year International Inc. The Business Year International Inc. has made every effort to ensure that the content of this publication is accurate at the time of printing. The Business Year International Inc. makes no warranty, representation, or undertaking, whether expressed or implied, nor does it assume any legal liability, direct or indirect, or responsibility for the accuracy, completeness, or usefulness of any information contained in this publication. The paper used in the ISBN 978-1-912498-42-0 production of this publication comes from well-managed sources. www.thebusinessyear.com thebusinessyear thebusinessyear thebusinessyear TBYupdates Contents 5 INTERVIEW banding TOGETHER Rodrigo Arcila Gómez EXECUTIVE PRESIDENT, COLOMBIAN
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