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HomeWeed NowCanadian Cannabis Firm Broadens Licensed Offerings with New Additions

Canadian Cannabis Firm Broadens Licensed Offerings with New Additions

Adastra Holdings Ltd., a leading Canadian cannabis company, achieved a significant milestone as Health Canada approved the broadening of its substance dealer’s license. This approval now enables Adastra to include psilocybin, psilocin, and cocaine within its approved substances.

With these amendments, Adastra Holdings Ltd. gains the authority to engage in activities such as possessing, producing, selling, and distributing up to 1,000 grams of psilocybin and psilocin. Furthermore, the company can handle up to 250 grams of cocaine, signifying a substantial expansion in their operational capabilities. Noteworthy is that the revised license also permits Adastra to import coca leaves for manufacturing and synthesizing cocaine.

Emphasizing a proactive approach, Michael Forbes, Adastra’s CEO. Highlighted the importance of harm reduction initiatives in the evolving landscape of drug regulations. “We commit to maintaining a leading position in compliance with drug regulations, recognizing harm reduction as a critically important and mainstream topic. Evaluating the integration of this substance into our business model will enable us to meet the demand for a safe and regulated supply of cocaine effectively.”

Considering the upcoming drug reforms scheduled to be implemented in British Columbia later this year. As part of these impending changes, there will be a provision for a three-year exemption, under the Controlled Drugs and Substances Act. Allowing adults aged 18 and above to possess limited quantities of opioids, cocaine, methamphetamine, MDMA, or a combination thereof. This forward-looking approach aligns with the shifting paradigms surrounding drug policies and underscores, Adastra’s commitment to responsible substance management within the regulatory framework.

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