As the burgeoning cannabis market expands around the globe, most countries have or are moving towards adopting cannabis legislation specifically for medical use. The medical cannabis marketplace is currently much more prevalent globally, even though the recreational sector thrives throughout the North American region. Nevertheless, recreational cannabis use is still allowed in countries such as the Netherlands, Spain, and even Colombia. Despite the worldwide use of cannabis, the industry remains heavily hindered by a lack of large-scale, clinical research and studies. This lack has led many countries to mistakenly assume that cannabis is simply a debilitating drug. Various government bodies are now demanding more clinical trial results in order to better understand the efficacy of cannabis and reverse the stigma that surrounds the plant. So far, research has concluded that the psychoactive effects are derived from the THC or tetrahydrocannabinol compound found within the cannabis plant. Primarily, THC is found within the marijuana family. On the other hand, the hemp family is commonly comprised of plants with high CBD presence and very minimal traces of THC, with CBD or cannabidiol, considered the non-psychoactive compound. While the two differ in their biological makeup, they both offer similar therapeutic effects. Moreover, because CBD does not cause psychoactive effects, countries are largely looking to adopt CBD for medical use. The growing adoption of CBD is further accelerating the overall cannabis market growth, despite the barriers currently hindering the THC marketspace. Nevertheless, the North American region is expected to bolster the THC marketplace, as according to data compiled by MarketsandMarkets research, the global cannabis is projected to grow from USD 10.3 Billion in 2018 to USD 39.4 Billion by 2023. Additionally, the market is estimated to register a CAGR of 30.7% during the forecast period. Blueberries Medical Corp. (OTC: BBRRF) (CSE: BBM), Tilray, Inc. (NASDAQ: TLRY), PharmaCielo Ltd. (OTC: PHCEF) (TSX-V: PCLO), Khiron Life Sciences Corp. (OTC: KHRNF), 22nd Century Group, Inc. (NYSE: XXII)

A handful of countries including Germany and France have already legalized the use of cannabis for medical applications. Furthermore, countries in the Latin American region are also moving towards legalization after Uruguaybecame the first country ever to fully legalize cannabis back in 2013. Uruguay’s former President Jose Mujica allowed citizens to purchase, consume, and grow cannabis freely. Meanwhile, medical cannabis is more prevalent in other Latin American countries such as Argentina, Brazil, Chile, and Colombia. Notably, Brazil is the largest medical cannabis target market because of its population size. In late 2018, Brazil’s Senate passed a bill to allow for the use and cultivation of medical cannabis. Additionally, Colombia is also a highly attractive market for many cannabis cultivators and producers. However, even though cannabis is still federally illegal in Colombia, the government has since moved to tone down regulations. In 2012, the Colombian government decriminalized the possession of up to 20 grams of cannabis. Then, in 2015, the Colombian Supreme Court ruled that cultivation of up to 20 cannabis plants was allowed. Now, Mexico is moving towards legalizing cannabis as well as Senator Olga Sánchez Cordero, interior Secretary selected by President Andrés Manuel López Obrador, is pushing for legalization in order to end the violent drug war and ease ongoing poverty concerns. If Mexico moves to legalize cannabis, it would join the U.S. and Canada as part of the dominant North Americacannabis marketplace. “We believe that the expansion of a Latin American market will significantly impact the global cannabis industry, undercutting producers and pricing worldwide. Strong forecast population growth, a perfect climate for cannabis cultivation, bolstered by progressive legislation and regulatory change are set to ensure Latin Americaremains a very attractive prospect for cannabis companies, and investors,” said Stephen Murphy, Managing Director at Prohibition Partners.

Blueberries Medical Corp. (OTCQB: BBRRF) (CSE: BBM) is also listed on the Canadian Securities Exchange under the ticker (CSE: BBM). Earlier last month, the Company announced the, “appointment of Eduardo Molinari, a former executive of Abbott Laboratories (NYSE: ABT) (“Abbott”) and AbbVie Ltd. (NYSE: ABBV) (“AbbVie”) as Chief Marketing Officer. Mr. Molinari will lead the development and implementation of the Company’s marketing strategies, directing these initiatives in the local and international markets.

Dr Patricio Stocker, Chief Executive Officer of the Company stated, “We are proud to welcome Mr. Molinari to our management team. Eduardo is a highly successful pharmaceutical industry executive as most recently demonstrated through his development of very successful marketing strategies at Abbott and AbbVie in Latin America. This experience along with his deep relationships will be a tremendous asset for us. Blueberries will continue to add world-class senior executives to its management team in an effort to capture a leadership share of the Latin American and international medical cannabis industry.”

Mr. Molinari stated “I am excited to join Blueberries as the company continues to execute on their unique business model. The combination of world-class management, strategic Latin American facilities and global partnerships presents a very compelling opportunity. I’m eager to leverage my experience and relationships to contribute to the company’s long-term success in the international marketplace.”

Mr. Molinari has more than 25 years of experience in the pharmaceutical industry, having held executive leadership positions in countries across Latin America, most recently VP Region North – Latin America of AbbVie until December 2018. In 2012, when Abbott spun out it’s pharmaceutical business to form AbbVie, Mr. Molinari left Abbott to establish AbbVie in Latin America where he played a key role in the growth of the company in the region. His business expertise is combined with deep experience in R&D both in academia at Northwestern University Medical School in Chicago and in the pharmaceutical industry. Mr. Molinari has shown continued growth as a leader in the industry with a commitment to bringing healthcare solutions to patients globally.

Mr. Molinari has been granted options (the ‘Options’) to purchase up to 200,000 common shares in the capital of the Company, pursuant to the Company’s stock option plan. The Options are exercisable at a price of $0.75 per share.

SOURCE FinancialBuzz.com