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UK / EU Cannabis Compliance

BusinessCann Report: Love Hemp ‘Rigorously Refutes’ Allegations Of Fraud Levelled By Former Managing Director

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LOVE Hemp has responded to damning allegations made publicly by its former managing director Philip Small, who left the company in November 2022.

The Aquis-listed CBD retailer, which has seen its shares suspended since May, issued an RNS on Monday, January 30 stating it ‘rigorously refutes’ the numerous accusations.

Mr Small’s account of his year-long stint at Love Hemp, understood to have been published in a public Telegram group, levels a number of serious allegations against the company and its directors, including VAT fraud, the misleading of investors, corporate fraud, perpetuation of an investment scam and ‘mismanagement’ at its core.

In response, Love Hemp’s board of directors said it was ‘shocked by the allegations’ and levelled a number of similar accusations at Mr Small, stating that actions during his short tenure ‘damaged the brand and resulted in unquantifiable losses’.

Investigation launched

In its RNS, Love Hemp said that the comments ‘are being thoroughly investigated by the company’s advisors including Love Hemp’s legal team’.

“However, until such investigation is completed, the board has no reason to believe any of these comments to be true.”

The statement also attempted to distance and differentiate itself from ‘the previous’ board, against which many of the claims are levelled, stating that the current board ‘cannot justify why the previous board made the decision to select Mr Small as the Managing Director’.

Aquis (AQSE) has also weighed in on the dispute, telling The Times: “In light of new allegations made, there will be additional scrutiny of Love Hemp by the Aquis Stock Exchange regulatory team, who will work closely with the Financial Conduct Authority (FCA) as necessary.”

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Love Hemp ‘Rigorously Refutes’ Allegations Of Fraud Levelled By Former Managing Director



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UK / EU Cannabis Compliance

Denmark Announces Plans for Cannabis Permanent Legal Framework

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Business of Cannabis

Denmark’s six-year medical cannabis pilot scheme could soon be expanded into a fully legalised market, following a surprise announcement from the government last week.

The Danish pilot scheme has been running since 2018, and has continued to expand in both scope and patient numbers over the past six years, with four different access schemes now operating.

Following the publication of a comprehensive analysis of these programmes, Minister of the Interior and Health Sophie Løhde last week met with the parties behind the trial scheme to discuss plans to ‘make the scheme permanent’.

Danish medical cannabis oil producer Stenocare tells Business of Cannabis that while the structure of the new framework is not yet clear, it’s likely to see a significant expansion in the market.

“It is going to grow the market. Medicinal products are primarily prescribed by specialists, while the pilot programme allows medical cannabis to be prescribed by GPs, so their’s a larger pool of prescribers out there… I think we’ll see an increase in treatment,” its CEO Thomas Skovlund Schnegelsberg said.

Read the full report

https://businessofcannabis.com/new-era-for-medical-cannabis-in-denmark-as-government-announces-plans-for-permanent-legal-framework/?utm_content=330050794&utm_medium=social&utm_source=linkedin&hss_channel=lcp-42296127



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UK / EU Cannabis Compliance

UK: Celeb Big Narstie To Open Medical Cannabis Office In Essex

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High & Polite write

Big Narstie to medical cannabis office in Essex 

Hold onto your spliffs, folks—because Big Narstie is making serious moves in the medical cannabis game!

The grime legend, comedian, and all-around UK icon is turning an old Barclay’s bank in South Woodham Ferrers into his very own medical cannabis office.

Yep, you read that right—Big Narstie Medical is officially open for business, ready to deliver “high-quality medicinal cannabis” to UK patients in need.

Now, we know what some of you might be thinking—“Big Narstie? Medical cannabis?”

But let’s be real, who better to bridge the gap between everyday people and the life-changing potential of medicinal cannabis?

Since the UK legalised medical cannabis in 2018, patients suffering from severe epilepsy, chemo-induced nausea, and MS have found relief through legal weed.

Narstie’s move isn’t just about the clout (though let’s be honest, a medical cannabis office is pretty cool).

He’s shining a much-needed spotlight on the benefits of medical cannabis, especially for those who don’ realise it can be legally prescribed.

So, whether you’re a fan or not, this is one groundbreaking move worth keeping an eye on.

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UK / EU Cannabis Compliance

German Medical Cannabis Associations Call For Wider Regulatory Reform

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In July 2023, Germany’s federal government commissioned the Federal Joint Committee (G-BA) – the body responsible for determining which medical treatments are covered by the country’s statutory health insurance – to amend the current regulations around medical cannabis prescriptions.

The G-BA is in the process of deciding four specialist areas for which the current approval requirement should no longer apply, making it easier to obtain insurance coverage for the medicine.

However, the country’s medical cannabis associations say this does not go far enough and have called for the approval requirement to be removed for all conditions in which cannabis has shown medical efficacy.

Medical cannabis has been legal in Germany since 2017 and can be prescribed by any doctor for patients with serious medical conditions. It is one of the few countries globally where the treatment can be covered under the public health insurance system in certain cases.

But currently, for patients with statutory health insurance, the costs of medical cannabis are only covered if previously approved by the insurance company.

This application process is said to be ‘daunting, lengthy and bureaucratic’ for doctors and patients, with 30-40% of applications being rejected.

https://businessofcannabis.com/german-medical-cannabis-associations-call-for-wider-regulatory-reform/



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