Between $500M and $1B of those sales expected to be illegal.
All eyes are on Canada this coming week as the Senate get set to finally vote on the Cannabis Act after 14 months of discussion, debate, and passing or defeating amendments.
The race is on for growers to achieve the next level of licensing from Health Canada — the licence to sell.
Shares of upscale U.S. marijuana retailer MM Enterprises USA LLC are expected to begin trading on the Canadian Securities Exchange Tuesday, following the reverse takeover of a Canadian shell company and a $143-million raise that gives the company an implied value of more than $2 billion.
Canada is more advanced than the United States regarding its approach to cannabis, world-famous rapper and weed entrepreneur Snoop Dogg said Friday to a crowd of hundreds at Montreal’s C2 technology conference.
As legalization approaches, cannabis companies must compete for supply agreements and retail space. Statistics Canada estimated Canadians consumed 770t of cannabis in 2017, with 94% of that consumption for recreational purposes. Companies increasing their production and sales to meet demand could capture a strong retail presence early on. The Canadian cannabis stocks on our list today have released their financial results recently, giving investors insight into their production and revenue increases.
As marijuana farmers in Oregon say a flood of supply is killing their businesses less than three years after recreational cannabis was legalized, economists say it’s a warning to Canada.
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MONDAY MAY 21, 2018
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Canada has emerged as a global leader in the pot industry as it becomes the first Group of Seven country to legalize the drug for recreational use later this year while a ban at the federal level keeps pure-play U.S. pot companies from major exchanges south of the border. There are now 90 publicly listed companies in Canada with a market value of about $31 billion.
Countries like Spain, Italy, and Colombia are likely the next growth opportunities for Canadian cannabis companies after a flurry of consolidation at home.