Xebra Gets Authorization to Cultivate, Sell Cannabis in Mexico
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Xebra Gets Authorization to Cultivate, Sell Cannabis in Mexico

Photo by:   pixabay , NickyPe
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Sofía Garduño By Sofía Garduño | Journalist & Industry Analyst - Mon, 03/13/2023 - 14:53

COFEPRIS granted Xebra Mexico authorization for the cultivation, processing, production and commercialization of industrial cannabis. This is the first time the country granted a permit for full cultivation, harvesting, processing and commercial activities to a corporate entity, says Jay Garnett, CEO, Xebra Brands. 

“This grant follows years of hard work and focus by a devoted team and is only the beginning of what Xebra has laid as the foundation for growth. The path is now clear for Xebra to continue forward to unlock the commercial opportunities that exist. We are excited to start the process of engaging with potential partners and stakeholders through various commercial joint-ventures,” says Garnett. 

COFEPRIS allowed Xebra Mexico to import the seed, process plant material and produce cannabidiol oil. The application was submitted on Nov. 29, 2018, and the authorization was granted after all five Supreme Court justices voted in favor on Dec. 2,2021. After this, the formal authorization was finally delivered by COFEPRIS.

However, COFEPRIS also stated that it does not have sufficient information to determine that this product is safe for the purposes for which the multinational company intends to use it, but said it was forced by the Second District Court to issue an authorization. “The authorizations determined by a court ruling are not always aligned with the legal framework in question. Even so, our obligation as a public institution at the service of the population is to abide by judicial provisions,” says COFEPRIS. For this reason, the regulatory agency has presented complaint and disagreement appeals to the Third Collegiate Circuit Court, with which it seeks to reverse and invalidate the authorization to protect people's health.

Despite this, Xebra aims to build a relationship with COFEPRIS based on collaboration to boost the Mexican cannabis market within the regulatory framework. “We look forward to delivering to our shareholders a plan that recognizes the full potential of these authorizations on a similar scale to those corporations that were granted licenses through Health Canada upon legalization in Canada,” says Garnett.

The entire cannabis industry is expected to foresee a "New Golden Age" due to changes to global regulations and new markets, according to Raul Elizalde, CEO, HempMeds. However, while some companies enjoy legal protection to sell CBD-based products in Mexico, the only legal cannabis products allowed in Mexico, aside from those by Xebra, are prescribed medications, as reported by Erick Ponce, President, GPIC. 

Photo by:   pixabay , NickyPe

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