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Varazdin buying marijuana

In journalism and media industry for more than twenty years, worked for a number of media companies. Business editing, research and PR specialist. Covering industry and science news for Ilesol Pharmaceuticals. Countries of Southeast Europe have a long history of hemp cultivation. In , ex- Yugoslavia was the third biggest hemp producer in the world, growing a total of With a breakup of ex-Yugoslavia, the former federal republics — and now independent states — have different laws concerning hemp growing, CBD, and medical cannabis. Medical marijuana is legal in Croatia and North Macedonia, and some other countries might consider the same in the near future. Before the 2nd World War, about ha of the agricultural area in Slovenia was cultivated with hemp. Then it quickly began to decline, and at the end of the s, it was no longer cultivated. In , Slovenia joined the EU and allowed hemp cultivation for food and industrial purposes. Growing hemp is regulated by the Drugs Production and Trafficking Act , with the Ministry of Agriculture providing permits. Varieties from the EU list are allowed and should not exceed 0. The regulations allow the classic production from seeds, and the fields need to have at least 10 acres for conventional farmers, or 1 are for organic growers. The hemp areas have stabilized at around ha per year throughout Slovenia. At that time, many small growers and processors were given a ban on production. Later, some revived production and are now somewhere in the gray zone. The situation is best for those who make products from imported raw materials. Despite many promises and attempts, matters are not settled because of a group of influential people in the Ministry of Health who are strongly opposed to any cannabis liberalization. We need to buy seeds from the EU variety list, and we are fighting against that. In , the Slovenian government reclassified cannabinoids as Class II illegal drugs. As a reason for refusing the proposal, the Slovenian government stated that it is contrary to the international obligations undertaken by Slovenia as a party to the Single Convention on Narcotic Drugs. However, there are only a few doctors with adequate knowledge and willing to provide such prescriptions. Before the 2nd World War, hemp cultivation spread on From the 60s until the 90s, production was in constant decline and was completely shut down in These tests were never conducted for any variety. The sub-legal act was amended in , and according to the new rules EU variety list was accepted. The growers were allowed to produce hemp only for food or feed. In March , the Croatian government issued a custom regulation act that included regulations for Cannabis sativa and cannabis resin in line with the UN Convention on Psychotropic Substances. The act applies to the plant, parts of the plant, or any other ingredients as resins, extracts, or tinctures. In July , Croatia joined the EU as its 28th member state. The major shift in legislation came in when the Croatian parliament amended the Drugs Abuse Prevention Act and enabled companies to grow cannabis for medical purposes. The regulative body for this purpose is the Ministry of Health. The Agency for medicinal products and medical devices should start providing licenses for the companies that want to grow cannabis for medical purposes. However, the protocol for these licenses is still not published. Since then, hemp and its products are no longer under the authority of the Croatian Ministry of Health, but the Ministry of Agriculture. They can be legally cultivated, processed, and traded like any other agricultural commodity. Also, cannabis production is no longer limited to industrial purposes. Article 13 of the new Drugs Abuse Prevention Act states it can be produced for medical purposes with the licenses from the Ministry of Health and the Agency for medicinal products and medical devices. Production for industrial purposes is also made much easier with a new regulation from the Ministry of Agriculture — 15 days before planting, interested companies or individuals only need to register on-line. The whole hemp plant is legal in the construction, textile, food and cosmetic industry, paper industry, automotive industry, and for the production of biofuels. In fact, with this ruling, the harmonization of the EU and Croatian laws is on its way. In Croatia, we expect the adoption of a regulation on the cultivation of cannabis not hemp for medical purposes soon. Under the Drug Abuse Prevention Act, only companies that have a license to manufacture medicines will be able to engage in this activity. As he points out, biomass production and biomass processing into CBD products are on the rise in Croatia. There are currently several smaller manufacturers of CBD oils and cosmetics in Croatia. We are the largest and only manufacturer of ingredients, finished products, and cosmetics. In the Federation of Bosnia and Herzegovina, hemp growing is only allowed for fiber and animal feed seed production, and further propagation and seed processing. According to that bill, cultivation is allowed with a license issued by the Ministry of Foreign Trade and Economic Relations. The license can be issued if an individual or a company has a contract with a buyer, or is at the same time registered as a company that purchases and trades with hemp. The Ministry of Agriculture, Forestry, and Water Management is issuing licenses for hemp cultivation. The land has to be at least 1 ha in size. In January , a new regulation from the Ministry of Agriculture came into effect, bringing more flexibility to seed import. Since , there were more than a dozen licenses issued in Republika Srpska, but to this date, there are no hemp crops. The THC limit is 0. In January , at the level of Republika Srpska, the Ministry of Agriculture, Forestry, and Water Management adopted a new regulation, which should enable a more manageable establishment of industrial hemp production. In the context of cultivation and competitiveness of BiH producers, a big problem is the industrial hemp variety list, which contains eight varieties of industrial hemp, and these are mostly obsolete. Also, I believe that the greatest added value comes from flower processing. The fact that the processing of industrial hemp flowers is prohibited in BiH means that the producers from BiH can hardly compete with producers from countries where the processing of industrial hemp flowers is allowed. Medical cannabis is illegal in both entities in Bosnia and Herzegovina. However, recent statements from the members of parliament and local representatives in the Federation of Bosnia and Herzegovina indicate there is no opposition to the legalization. Between the two world wars , there were around 30 large and 10 smaller hemp processing factories in Serbia. Today, there are around 1. Hemp growing is regulated by the Act on Psychoactive Controlled Substances adopted in and amended in It is legal to grow the varieties of hemp listed in the Register of Recognized Varieties of Agricultural Plants. However, only Fedora 17, Helena, and Monoica are available in Serbia. Unlike other countries in the region, which still hold to 0. The Ministry of Agriculture issues permits according to regulation from , and they can be obtained for fiber production, production of seeds for animal nutrition, further propagation, processing, testing of seed quality, and its trade. In , the Commission for Psychoactive Controlled Substances, a government advisory body, listed CBD as a substance that can cause pharmacological addiction. For the moment, the cultivation of hemp for this purpose stays in a grey zone, as well as the extraction of CBD oil. On the other hand, CBD itself is not regulated as such, which complicates the conditions for placing it on the market. CBD in Montenegro is legal with a 0. Hemp growing is regulated by the Drug Abuse Prevention Act from , amended in Growing hemp is allowed for industrial and food purposes if the individual or a company has a contract for the full yield purchase four months after the harvest. Following this regulation, the Ministry of Agriculture issued a protocol for license issuing. The exemption is when hemp is grown for scientific purposes. Instead, it needs to register the land for cultivation for scientific purposes. The initiative for the legalization of marihuana for medical and recreational purposes Legalizuj. The consumption would be limited to the places of residence, coffee shops, and certain tourist sites, to protect minors from contact with cannabis before the age of eighteen. We see cannabis as a renewable resource that will completely reform the economy, improve medicine and reduce the crime rate in Montenegro. In North Macedonia, hemp cannot currently be legally cultivated or processed for any purpose. The use of non-viable hemp seeds is not restricted. On the other hand, medical cannabis is legal since , when the Act on Control of Narcotic Drugs and Psychoactive Substances was amended. The decision had no political opposition and 70 percent support in public polls. The illegal production and sale of marijuana remain punishable by sentences of one to ten years in prison. In an interview for Deutsche Welle in December , prime minister Zoran Zaev announced that his government plans to legalize marijuana for recreational purposes. Capital Skopje and Ohrid area will transform into cannabis tourism spots and it would boost the economy, as he pointed out. He introduced a model in which a government agency would enable each citizen to grow up to three plants on their own, or through companies that would do the growing instead. So far, the government issued 59 licenses, he said. This work is about to start in when we expect the parliament to debate. In , the Canadian International Cannabis Corp. Having in mind the long tradition of this region, new developments on a global level could bring a renaissance in hemp growing, processing, and trade. Medical cannabis will most certainly gain legal access to the patients in some of the Balkan countries. Eventually, the legalization for recreational purposes is becoming more and more likely. Posted on March 18, Last updated on May 13, Cannabis laws in Slovenia Before the 2nd World War, about ha of the agricultural area in Slovenia was cultivated with hemp. Cannabis laws in Croatia Before the 2nd World War, hemp cultivation spread on In , there were about 80 hemp producers in Croatia who grew it on about 2. Medical marijuana is illegal in Serbia, with recent cases of arrests for possession. What is the history of hemp cultivation in Slovenia? Is it legal to grow hemp in Slovenia? Growing hemp is regulated by the Drugs Production and Trafficking Act, with the Ministry of Agriculture providing permits. How much hemp is grown in Slovenia? Is it legal to produce CBD in Slovenia? As for the extraction and production of CBD and other cannabinoids, things got complicated in when inspections began to exercise stricter controls and refer to novel food. What are the limitations of growing hemp in Slovenia? Hemp can only be grown, while propagation is not allowed in any sense. Is medical cannabis legal in Slovenia? In , the Pirate Party of Slovenia put a parliament proposal to legalize cannabis for all uses, but it didn't pass. What is the history of hemp growing in Croatia? What were the laws on hemp growing in Croatia before the legalization? In modern Croatian laws Cannabis sativa, L. In reality, at the time, hemp cultivation was impossible because the sub-legal act Ordinance of the Conditions for Growing Hemp and Poppy instructed that varieties allowed for production had to be tested for THC content before the listing on the Croatian agricultural plants' variety list. Is medical cannabis legal in Croatia? In the Croatian parliament amended the Drugs Abuse Prevention Act and enabled companies to grow cannabis for medical purposes. Is CBD legal in Croatia? Hemp and its products are no longer under the authority of the Croatian Ministry of Health, but the Ministry of Agriculture. What is the regulation for hemp growing in Croatia? With a new regulation from the Croatian Ministry of Agriculture — 15 days before planting, interested companies or individuals only need to register on-line. Can you grow hemp in Croatia? It is also legal for medical purposes. How much hemp is grown in Croatia? Which hemp varieties can you grow in Croatia? Since , it is legal to grow varieties from the EU plant variety catalog. Who can grow medical cannabis in Croatia? Under the Drug Abuse Prevention Act, only companies that have a license to manufacture medicines will be able to engage in this activity in Croatia. Is there biomass hemp production in Croatia? Biomass production and biomass processing into CBD products are on the rise in Croatia. There are a significant number of large farmers who have many years of experience and technology for the production of top-quality biomass. How many companies produce CBD oils and cosmetics in Croatia? Ilesol Pharmaceuticals is the largest and only manufacturer of ingredients, finished products, and cosmetics. What is the largest Croatian CBD company? Is it legal to grow hemp in the Federation of Bosnia and Herzegovina? In the Federation of Bosna and Herzegovina, hemp growing is only allowed for fiber and animal feed seed production, and further propagation and seed processing. Is it legal to grow hemp in Republika Srpska? Is it possible to grow hemp in Bosnia? Is medical cannabis legal in Bosnia and Herzegovina? However, recent statements from the members of parliament and local representatives in the Federation of Bosna and Herzegovina indicate there is no opposition to the legalization. How much hemp is grown in Serbia? Between the two world wars, there were around 30 large and 10 smaller hemp processing factories in Serbia. Is it legal to grow hemp in Serbia? What is the legal THC limit in Serbia? How do you obtain a license to grow hemp in Serbia? Is CBD legal in Serbia? Pursuant to Serbian legislation, CBD is not a psychoactive substance and is not on the list of psychoactive controlled substances. Is medical cannabis legal in Serbia? Is CBD legal in Montenegro? Is medical cannabis legal in Montenegro? Is medical cannabis legal in North Macedonia? Follow Us. Interested to learn more?

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Varazdin buying marijuana

Investment Companies. We will only use your personal information to provide the services and products that you have signed up for. You will receive a confirmation email after subscribing and can tailor your preferences or unsubscribe at any time by using the links provided. SynBiotic has built up a leading platform company that spans the hemp and cannabis industry to cover the full value chain, from cultivation through to sales. Management buys and builds ventures that create and market hemp, cannabis and cannabinoid products for both medical and recreational use, while continually seeking investments in exciting new verticals. Recreational cannabis use has recently been partially legalised in Germany, while the same legislative changes have benefited the medicinal market. Having built its platform prior to these changes, SynBiotic is seeing its investments bear fruit and we believe it is well-positioned for any further relaxation in cannabis legalisation in Germany. Market cap. Share price graph. Share details. Shares in issue. Last reported net debt as at 31 December Business description. SynBiotic is an investment holding company that pursues an EU-focused buy-and-build approach. The group of companies covers the entire supply chain, from cultivation to production to retail of hemp and cannabis products. One of the core businesses of the platform company is the research and development of new cannabinoid and terpene-based solutions for pain, sleep and anxiety. Its products serve a variety of end-markets including medicine and healthcare, nutrition and cosmetics. Large global market for cannabinoid products in multiple applications, with many legislators looking at relaxing rules, most recently Germany. Diversified businesses covering three sectors: industrial hemp, medical cannabis and recreational cannabis. Strong leadership team and portfolio managers. Execution risk in terms of integration and future investments. Potential competition from large players. Milo Bussell. Russell Pointon. Edison profile page. Historical financial figures. Year end. Source: SynBiotic. Management looks for companies that fit strategically, while also exploring growing verticals. It seeks to generate synergies between its investments, which is a competitive advantage relative to peers that tend to focus on a specific area of the market. Partial legalisation sparks up the German market. Recreational cannabis use has been partially legalised in Germany since 1 April , with adults allowed to possess 25g in public or 50g in private. Limited home cultivation is also legal. Furthermore, cannabis has been removed from the German Narcotics Act, enabling medical professionals to prescribe medicinal cannabis more easily to patients. Company description: A synergistic and diversified cannabis platform. SynBiotic was established to take advantage of the growing consumer acceptance of cannabinoids and industrial hemp across a range of applications, including healthcare pain, sleep and anxiety solutions , nutrition, cosmetics and animal food supplements. This should enable SynBiotic to operate more efficiently and to effectively navigate any legislative restrictions. Current laws in Germany allow producers to import cannabis for medicinal purposes, but not for recreational use. On 1 April , recreational cannabis was partially legalised in Germany, a significant step for SynBiotic and the broader European cannabis market. SynBiotic has sought to diversify its revenues in recent years through its investments, having previously been heavily reliant on the distribution segment. Cannabinoids, of which the two main ones are deltatetrahydrocannabinol THC and cannabidiol CBD , constitute more than natural active ingredients of the hemp plant cannabis sativa. These chemical compounds can have a positive medical or cosmetic effect by interacting with specific receptors within the central nervous system. By influencing how cells communicate, cannabinoids regulate numerous activities, including mood, sleep, memory and appetite. SynBiotic was known as Ledgertech until April when it was renamed in keeping with the realignment of its strategy. Significant events as SynBiotic has built up its platform include:. In March , SynBiotic announced a further acquisition and another capital increase: it acquired a In April , SynBiotic announced an in-kind capital increase for the takeover of Lean Labs and the remaining share of Solidmind Group. In November , SynBiotic acquired This group of companies belonged to hemp and cannabis industry pioneer Daniel Kruse and the takeover was again funded by a capital increase. Further capital increases were announced in September and October , with the stated objective of further expanding the existing business and continuing to pursue the buy-and-build strategy. Most recently, SynBiotic expanded its medicinal cannabis capabilities through the acquisition of WEECO Pharma, a German importer and wholesale platform that connects medicinal cannabis producers. Company Name. Date of acquisition. Lean Labs Pharma. Hemp Factory. Hempro International. MH medical hemp. SynBiotic Distribution. Canna Abgabestellen Franchise. Ilesol Pharmaceuticals. Exhibit 2: SynBiotic segments and company portfolio. SynBiotic is looking to become a leading platform in the cannabinoids industry through targeted acquisitions of companies that together span the value chain of the industrial hemp and cannabis sectors. Below we outline the group structure across its segments. The aim is to build a strong European group of companies with experienced and promising businesses in order to cover the relevant growth markets and at the same time minimise risks for investors through diversification. Cultivation: SynBiotic has invested in companies that cultivate and grow cannabis and hemp, to cover the full value chain of the cannabis plant:. Hanf Farm It produces raw materials such as organic hemp seed and leaves and hemp oil, among others. It also provides agricultural services for hemp such as harvesting, drying, cleaning and processing. Hemp Factory In addition to the germ reduction, cleaning, hulling and roasting of hemp seeds, the range of services includes the production of hemp oil, hemp flour, hemp protein powder and hemp fibre. Customers include food and baked goods manufacturers. The company also produces animal feed. Sales and distribution: SynBiotic buys and builds strong medical and DTC brands to enhance distribution to customers. Within this segment, SynBiotic is focused on the medicinal cannabis market, due to it being a more regulated and fast growing segment. Other rapidly evolving areas, including hemp and recreational cannabis, are monitored so SynBiotic can capitalise as and when required. After extraction through a CO 2 process, Hempamed oils are gently filtered to keep as close to the original plant structure as possible. Hempro International MH medical hemp It produces and sells medicinal and pharmaceutical cannabis products. Management is refocusing the business by closing some of the smaller stores in Austria and growing the online platform. The group is considering opening retail stores in Germany. Bushdoctor offers cannabis accessories and products across the spectrum, from seeds and hemp plants to CBD products and smoking accessories. The company is a platform that connects cannabis EU-GMP approved producers through its position as an importer and wholesaler in medicinal cannabis. Despite cannabis being used for various medical purposes for thousands of years and having a safety profile that is superior to alcohol in many respects , there are surprisingly few therapeutics containing cannabis that have been approved by major regulatory authorities. Within Germany, the use of medical cannabis has been legal since following the passing of the Medicinal Cannabis Act. Regulation in made the process of obtaining a prescription for medicinal cannabis more accessible for patients and health insurance providers, for which the guidance has been clarified. Germany is now one of the only countries where medical cannabis treatment is covered under a public health insurance system. This classification had generally discouraged cannabis use for medical purposes. Although governments retain jurisdiction over the classification of cannabis, the decision signalled the intent to loosen international controls. While the use of recreational cannabis is illegal in most countries, the German government passed partial legalisation in February permitting regional pilot projects that allow for the production and sale of cannabis in designated areas. There were votes in favour, rejections and four abstentions. Under the new law, from 1 April overs can possess 25g of cannabis in public and 50g in private, and up to three cannabis plants can be grown per person. However, the use of cannabis is restricted in designated public places, such as within sight of schools, sports centres and pedestrian zones, between 7am and 8pm. From 1 July , designated cannabis clubs can be formed with up to members, who are allowed to grow cannabis and distribute it to their members on a not-for-profit basis. The clubs are limited to dispense a maximum of 50g of cannabis per person per month. Members of the clubs must be residents of Germany membership is not available to tourists and membership is heavily regulated. While these changes represent a significant shift in legislature, the legalisation of commercial supply of cannabis is yet to be decided. Currently, as the recreational cannabis market is not-for-profit, supply can only come from home cultivation or through the cannabis clubs. The outcome of the regional trials may influence broader cannabis policies within Germany, which may pave the way for legalisation and guidance on the supply of recreational cannabis. In the US, the largest market for cannabis use, laws on recreational use are being relaxed. Already, 24 states and the District of Columbia have legalised the use of recreational cannabis, while 38 states have legalised the use of cannabis for medicinal purposes. In May , the US Department of Justice reclassified cannabis from a Schedule I controlled substance, a classification that includes addictive drugs such as heroin, to Schedule III, which classes it as a moderate or low-risk dependency drug. The move not only signals a change in attitudes towards recreational use, but could potentially enable greater clinical research and opportunities for pharmaceutical companies to submit new drug applications with cannabis-based products. Although SynBiotic does not operate in the US, it is nonetheless a key global market for cannabis and hemp products and could facilitate regulatory change in other markets. Key current and prospective market applications for SynBiotic. The hemp and cannabis market can be divided into three distinct segments: medical cannabis, recreational cannabis currently illegal in most jurisdictions and industrial hemp. SynBiotic believes it is well-positioned in all three of these markets, with products illustrated in Exhibit 3. Exhibit 3: SynBiotic products. Medical cannabis refers to herbal or plant-derived cannabis products that are prescribed by a medical professional. Products are available as herbal materials, oils, tinctures, food or capsules, and SynBiotic is working to expand this list. After epilepsy, pain is probably the area with the highest quantity of evidence associated with the efficacy of cannabinoids, and is a large market. Research into the benefits of CBD products for the treatment of chronic pain is, however, relatively mixed. Other substantial markets are sleep disorders and anxiety. The CDC estimates that between 50 million and 70 million people in the US suffer from chronic or ongoing sleep disorders, while the World Health Organization estimates nearly million people suffer from anxiety. The legalisation of medical cannabis is advanced across Europe with medical professionals being able to offer cannabis-containing medicines to patients with a serious illness since Doctors still tend to prescribe cannabis only when other therapies are ineffective, as very few cannabis products have been approved for pain; however, acceptance of medicinal cannabis is increasing steadily. Germany, however, has been relatively progressive in this field, with an estimated k active medical cannabis patients in April Following the partial legalisation in April, medicinal cannabis has been removed from the German Narcotics Act, resulting in less red tape to facilitate more prescriptions of medicinal cannabis. The recent changes to legislation could also boost domestic German medicinal cannabis production. SynBiotic is poised to take advantage of the changes in the regulation of recreational cannabis in Germany, having successfully built out a portfolio of companies that operate within the recreational cannabis value chain. The legalisation of the commercial sale of cannabis is likely to be a slower process compared to the pilot projects that have been put in place, particularly as cities and regions decide whether they would like to participate in the pilots. Although non-profit cannabis clubs are legal nationwide, owing to bureaucracy, many clubs have reported delays in obtaining licences and have found it difficult to comply with the current regulations. There are other legal considerations at both the state and broader EU level that may slow the process to full legalisation of the sale of recreational cannabis. Consequently, SynBiotic has sought to diversify its strategy to cover the wider CBD space with industrial hemp. Industrial hemp has a broad range of uses, including wellness and food, cosmetics, food supplements, animal foods, textiles and plastics among the many categories for finished products. We profile a few of these industries below to show the potential opportunities for SynBiotic. Many European countries do not allow the sale of CBD-containing food, citing insufficient data on the effects of CBD products on the body. Within Germany, applications for the approval of CBD-containing products are ongoing, however SynBiotic expects a favourable decision to be made by mid SynBiotic is active in the CBD-based dietary supplements market, which has grown steadily in recent years. Although this clearly is limited in comparison with the broader CBD market, it represents a rapidly growing segment of the market. Another use case is for hemp protein in industrial animal feed, which would represent a significant market opportunity for SynBiotic. At present there are regulatory concerns regarding the transfer of THC from animals to humans. However, benefits seen in trials relating to animal health, meat quality and lower methane production may encourage regulatory change. There remains a lack of participation within the cannabis market from the large biotechnology and pharmaceutical companies due to the complex intellectual property landscape. Although the clinical trial process for developing an FDA-approved cannabinoid product is no shorter than usual, the exclusivity can be short if the product is a reformulation of THC or CBD. In the US, Hatch-Waxman exclusivity for a product that is not a new chemical entity is only three years, compared to five for a new chemical entity. Patents in this area tend to be particularly narrow owing to the high level of prior art affecting the patentability of THC and CBD formulations. Any granted patents will likely be challenged once exclusivity expires. Within Europe there are very few cannabis competitors, with many companies focusing on a specific vertical such as medicinal cannabis or retail. SynBiotic believes it has a competitive edge due to its vertically integrated approach, which spans cultivation of cannabis through to production and distribution, bringing advantageous synergies. Direct competitors tend to be smaller-scale, privately owned companies. Management, organisation and corporate governance. German corporation law requires all public companies to have two boards: a management board and a supervisory board. The supervisory board oversees and appoints the members of the management board and must approve major business decisions. This independent, non-executive panel has the duty to hold management accountable and protect the interests of shareholders. In November , SynBiotic announced the creation of an advisory board, having secured Bruce Linton as its chairman. Linton is the founder and former chairman and CEO of Canopy Growth Corporation, and is one of the most experienced and most successful cannabis entrepreneurs and investors globally. The other member of the advisory board is Dr Thomas Haffner, who has over 25 years of experience in the pharmaceutical industry, with expertise in the conception and marketing of OTC drugs. We profile the key members of the executive team, management board and supervisory board:. He has been a board member of the European Industrial Hemp Association since and was elected its president in He also serves as the vice-chairman of the Federation of International Hemp Organisations. Rainer Seiler member of the supervisory board is a healthcare market consultant and entrepreneur with 20 years of leadership experience in a number of sectors including pharmaceuticals, e-commerce and wholesale. Frank Otto sits on the supervisory board. He has co-founded a number of companies in the healthcare market. The financial figures for FY23 showed a significant decline in revenues, largely reflecting the weaker consumer environment in Europe following the war in Ukraine and subsequent squeeze on household budgets. Period to 31 December. Cash flow from operations. Cash flow from investing. Cash flow from financing. Cash and cash equivalents at start of the year. Cash and cash equivalents at end of the year. The company will also likely continue its strategy of acquiring businesses through the issuance of additional shares, which may further dilute existing shareholders. Share price. FY24e revenue. Aurora Cannabis. Cronos Group. Canopy Growth Corp. Leafly Holdings. Tilray Brands. Peer group average. SynBiotic SE. SNDL has also seen a positive return of There is a risk that regulatory requirements will not be met. Apart from a current strict framework, the constant change in the regulatory environment for CBD and the sometimes unclear boundaries between pharmaceutical products, food and prohibited narcotics can make compliance difficult. If SynBiotic products are classified as medicinal products, they are subject to pharmaceutical approval and distribution rules. The approval process can be lengthy and varies from country to country. In addition, the legal framework for narcotics must be observed. For example, a tightening of the UK Medicines Act or of EU legislation around narcotics drugs, or its interpretation by courts, could be highly detrimental to sales of SynBiotic products, as could a tightening of the criminal code ie driving a motor vehicle under the influence of narcotics. Similarly, the legalisation process in Germany is subject to political agreement and there is a risk the process could be affected by political interference. In Germany, the partial legalisation of cannabis is being run through pilot trials, which does not guarantee full legalisation. Furthermore, administrators within more conservative states in Germany, including Bavaria, have already said they will reject notions to legalise cannabis at the national level. There is execution risk in terms of expansion, which is at the heart of the SynBiotic investment case. Planned growth is dependent on the availability of and access to profitable investments at attractive prices. The integration and management of acquisitions may not be successful. Shares may be issued for acquisitions, thereby diluting existing shareholders. The German market is exposed to intense global competition, which are able to produce cannabis at a lower cost. Consequently, the German cannabis market is, and will remain for the foreseeable future, an import market. Because of its international activities, SynBiotic is affected by economic risks in numerous countries. We note, however, that management undertook cost-cutting in FY23 in response to weaker trading, reducing the headcount from in FY22 to While the proceeds from capital increases are intended to be used to expand the investment portfolios, there is always the risk of overpaying for acquisitions. General disclaimer and copyright. This report has been commissioned by SynBiotic and prepared and issued by Edison, in consideration of a fee payable by SynBiotic. Fees are paid upfront in cash without recourse. Edison may seek additional fees for the provision of roadshows and related IR services for the client but does not get remunerated for any investment banking services. We never take payment in stock, options or warrants for any of our services. 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Research: Consumer 16 September Platform primed for growth. Leading the European cannabis industry. Valuation: Clear guidance laid out. Market overview. Medical cannabis. Recreational cannabis. Industrial hemp. Wellness and food. Food supplements. Animal food supplements. General disclaimer and copyright This report has been commissioned by SynBiotic and prepared and issued by Edison, in consideration of a fee payable by SynBiotic. United Kingdom This document is prepared and provided by Edison for information purposes only and should not be construed as an offer or solicitation for investment in any securities mentioned or in the topic of this document. United States Edison relies upon the 'publishers' exclusion' from the definition of investment adviser under Section a 11 of the Investment Advisers Act of and corresponding state securities laws. Investment Companies Flash note Financials Update Industrials Update TMT Update More on SynBiotic View All. 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