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SOMAÍ Pharmaceuticals Newsletter - September 2021

The developments we've witnessed this past month were expected. Germany's federal elections on Sunday the 26th brought up a lot of discussion about the upcoming possibility of cannabis reform. With Angela Merkel no longer being the Chancellor of Germany after 16 years, everyone is waiting to see what party alliances will be and how this will affect the cannabis market. One thing is for sure, change is coming.

Of great importance, this month an open letter was sent to the Portuguese Parliament defending the cannabis reform and high level negotiations are happening in the government. Recreational cannabis is highly likely this time around. The legalization of cannabis is under discussion in the Health Commission as two bills were presented two months ago by the Left Block and the Liberal Initiative. Although little details are agreed, the general consensus is that a Canadian style model with modified GMP nutraceutical rules will be the future of recreational cannabis in Portugal.

Another European country got one step closer to decriminalizing cannabis this month - over 500.000 signatures were gathered in Italy in just one week and now a referendum on cannabis legalization could be held next year. That would make Italy one of the first countries, along with Spain and the Czech Republic, to decriminalize and legalize cannabis for home cultivation and personal use. 

Now, when it comes to medical cannabis, we saw Spain approving for the first time a cannabis-based medicine, Epidyolex, for those who suffer from severe medical conditions. At this point, almost all EU member countries recognize the advantages of medical cannabis use and relevant legal reforms are taking place.

Somai- This month's highlights

  • September has been action packed for SOMAI, as our CEO Michael Sassano moved to Lisbon, Portugal. Also, the C-Suites has followed with meetings now taking place at our brand new offices.
  • We welcome Anton Nakhodkin as the newest member of our team. As Lead Development Officer, he will be in charge of overseeing the construction and implementation plans.
  • In boost of confidence, SOMAI received a planned increase in capital from institutional investors.
  • We are proud to officially present AIRPLAN on our website as our cleanroom supplier. Progress is continuing as planned each month. 
  • Our CEO - Michael Sassano will be present at the MJBizCon in Las Vegas to keep up with the latest developments in the industry and reconnect with numerous industry friends and partners. He will be hosting a cocktail for a select few, RSVP if you would like to meet with him.

Here are the latest articles from our CEO, Michael Sassano: