Mexican Supreme Court Set to Vote on Granting Xebra brands an Injunction to Commercialize Cannabis
Nov 24, 2021 By MarketDepth
Xebra Brands Ltd. (CSE: XBRA) (OTC: XBRAF) today announced that the Mexican Supreme Court set December 1st as the date to vote on granting Xebra an injunction to commercialize low-THC cannabis.
Up Premarket
Xebra Brands Inc. (CSE: XBRA) shares gained 9.7% in premarket trading as a result of the announcement.
Approval Pending
Should the proposed constitutional injunction be granted, Xebra’s wholly owned Mexican subsidiary, Desart MX, would be authorized to import seeds, cultivate and process cannabis with under 1% THC in the country. Additionally, it could allow for the manufacture and sale of CBD and CBG, as well as various associated products.
“If an injunction is granted, Xebra could be authorized to operate irrespective of when, or whether or not, Mexico legalizes cannabis, and the injunction would apply only to Xebra.”.
Xebra President, Rodrigo Gallardo
