HITI - Here's What You Need To Know About Weed Legalization In Germany That Just Took Effect | Benzinga
Adults over 18 in Germany can legally possess up to 25 grams of dried cannabis and cultivate up to three marijuana plants at home. And no, this is not an April Fools' Day prank.
Beginning July 1, adults can also join not-for-profit social clubs where they can buy up to 25 grams of cannabis, with a cap of 50 grams per month. That cap is 30 grams for members under 21 years old.
The new law goes into effect on Monday, April 1, following approval from both the Bundestag and Bundesrat that allows for partial cannabis legalization.
The policy change makes Germany the third country in Europe to legalize adult-use marijuana after Malta and Luxembourg.
Cannabis giants like Aurora Cannabis Inc. (NASDAQ:ACB) (TSX:ACB) and High Tide Inc. (NASDAQ:HITI) (TSXV:HITI) (FSE: 2LYA) were among the first to celebrate the enactment of the new law.
Miguel Martin, Aurora’s CEO, called the expansion of legal cannabis in Germany an important strategic priority for Aurora. He's been eyeing the European market for years.
“I know we’re all consumed with what’s happening here in the U.S., and that’s a big part, but I would encourage you to spend time on what’s happening ...