COWEN COLLABORATIVE INSIGHTS February 25, 2019 2018. Organto received a license to produce high-CBD strains and Foulimed intends to cultivate 70 tones of hemp and cannabis for medical purposes. Colombia enjoys an =a advantageous climate for cultivating cannabis at a low cost for production, which has attracted interest from many foreign companies. Mexico Medical cannabis has been regulated in Mexico since 2017. This regulatory change followed a favorable Supreme Court ruling for a young girl who treated her Lennox- Gastaut syndrome with CBD oil in 2015. It is permitted to have medical cannabis products with up to 1% THC content and these products are regulated by the Health Ministry. Aurora (through their subsidiary Farmacias Magistrales) recently received a license to import medical cannabis products containing over 1% THC. Pharamacielo recently announced a JV with Mexican pharmaceutical company MINO Labs S.A. de CV. to distribute medical cannabis domestically. Mexico is the second largest hemp producer in Latin America. The law changed in 2017 to permit the cultivation and processing of industrial hemp. In November 2018, the government released a list of 38 OTC products - 21 food supplements, 9 cosmetics, 6 edibles or beverages, 2 raw material - that have been approved for sale in the country. Seven companies received authorization for these products, which includes 2 American, 4 Mexican and 1 Spanish company. These products must contain no more than 1% THC. Products can be purchased through retail stores and e-commerce sites. The regulatory agency authorizing these products is the Mexican Federal Commission for Protection Against Sanitary Risks. Mexico has announced plans to legalize cannabis for adult-use purposes in 2019, which would significantly change the shape of the market opportunities. The country would become the third in the world to implement a nationwide policy to legalize cannabis for all purposes. In the proposed legislation there would include si