Uruguay marijuana licences lure world bidders
South American country plans to issue as many as five permits to grow cannabis
MONTEVIDEO — Canadian medical-marijuana producer Tilray and the founder of a German cannabis products retailer are among 11 investors bidding for a foothold in a formerly illegal industry in Uruguay: marijuana farms.
Once the government issues the licences, pot could reach pharmacies in three to four months, said Alfredo Dupetit, a partner in Montevideo, Uruguay-based bidder Lucus SRL.
Pharmacies will then be able to sell as much as 40 grams (0.1 pound) of pot a month, enough for about 60 joints, to registered users, the government has said.
After serving as the front line in a US-led effort to squash drug production and consumption, Latin American and Caribbean nations have begun opening the door to legal marijuana. Jamaica’s Senate passed legislation this month — on late singer Bob Marley’s birthday — allowing some pot for personal...
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