Xebra Brands Ltd. (CSE:XBRA) (OTCQB:XBRAF) (FSE: 9YC), a global cannabis company, announced on Thursday that the Supreme Court of Mexico had issued and recorded the official final written resolution through which Xebra's wholly-owned Mexican subsidiary, Desart MX, SA de CV, received an injunction, that furthers its outright first-mover-advantage in the Mexican cannabis market.
Xebra announced on December 2nd, 2021, that all five Supreme Court justices voted unanimously in favor of granting Xebra Mexico an irrevocable injunction.
“In order for Xebra Mexico to commence formal operations of cannabis activities, the next steps were for the Supreme Court to issue and record the official final written resolution, and to direct the Federal Circuit Court; these steps are now complete,” explained the firm in a press release. “The final steps are for the Federal Circuit Court to enforce the Supreme Court's final decision and to direct the Mexican Health Regulatory Agency (COFEPRIS), to grant Xebra Mexico all authorizations.”
Xebra Aiming To Commence Commercial Cannabis Activities In 2022
Xebra Mexico's injunction applies specifically to the industrial cannabis sector, and explicitly to cannabis with low levels of THC (under 1%), therefore, in practical terms, to hemp cultivation and processing, and to the manufacture and sale of mainly CBD products, such as tinctures, oils, topicals, edibles, beverages, concentrates, distillates, emulsions, and biomass, and certain uses of the cannabis flower.
In addition, opportunities in the hemp plastics industries have also been identified.
Xebra trusts in Mexico’s potential to be one of the largest near-term country cannabis consumer markets in the world.
The firm considers the country's location to be strategic for corporate growth.
“Mexico is within the North American free trade zone (USMCA), allowing it to benefit from its considerable cultivation and product manufacturing cost advantages over Canada and the United States (...) there is a possibility that ultimately the majority of North American industrial-scale cannabis production activity will occur in Mexico,” added the firm.
Image Via El Planteo.
