Xebra Brands has achieved another important milestone on its path to setting up operations in the Mexican cannabis market.
Xebra announced on December 2, 2021, that all five Supreme Court justices voted unanimously in favor of granting Xebra's wholly owned Mexican subsidiary, Desart MX, SA de CV (Xebra Mexico), an irrevocable cannabis injunction. On March 24, 2022, Xebra announced that the Supreme Court issued and recorded the official final written resolution and directed the Federal Circuit Court to enforce its decision. Now Xebra has announced that the Federal Circuit Court has enforced the Supreme Court decision, by also recording a written resolution, and by issuing a further irrevocable injunction in favor of Xebra Mexico.
"We are thrilled that there are no more legal hurdles to overcome, said Jay Garnett, CEO of Xebra. "The final step in the process is for the Mexican Health Regulatory Agency (COFEPRIS) to grant Xebra Mexico all cannabis authorizations per our Amparo, and we expect that to happen soon!"
Xebra Mexico's injunction applies specifically 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 etc., and certain uses of the cannabis flower. Opportunities in the hemp plastics industries have also been identified.
Xebra is aiming to commence commercial cannabis activities in Mexico this calendar year 2022. More information will be provided on Xebra's Mexican plans in due course.
