“You’re leaving a lot of people in a place where they can legally grow this product, can legally carry this product, can legally purchase this product, but there’s not a lot of places for them to legally consume it,” said Dan Rowland, a consultant with Alberta-based 420 Advisory Management.
Canada fell to a surprise second place behind the United Kingdom in 2016 legal cannabis production, according to an International Narcotics Control Board report issued last week.
Brad Callihoo, CEO of the Fort McMurray #468 First Nation, said his band wants to diversify its business interests away from oil and gas development.
Among them are two American venture capitalists who decided cannabis is the next big thing. There is also the longtime CEO of a vitamin company, an investment banker who was in charge of business development at Toronto’s Mount Sinai Hospital, and a hockey dad who started out as an electrician.
A 2017 Macleans survey suggested that over a third of Canadian university students smoked pot at least sometimes, and five per cent several times a week or more.
A midsize U.S. company has bought majority stakes in two Canadian businesses to prepare for the medicinal-marijuana trade, marking the entry of the tobacco industry into legal pot here.
When marijuana is taxed, the tax will apply to federally-licensed producers, and will be either a flat rate on the quantity of cannabis in a given product or a percentage of the sale price of a marijuana product – whichever is higher.
Licensed producer Aurora Cannabis has signed a deal to supply medical marijuana to Shoppers Drug Mart.
Cronos Group, which is already listed on the Toronto Stock Exchange is expected to begin trading its shares on the NASDAQ under the symbol ‘CRON’ as early as Tuesday, February 27, according to a statement put out by the Toronto-based company.
Some Canadian colleges and universities are preparing people for the thousands of potential new jobs expected to be created as the country’s booming weed industry — valued at $23 billion by accounting firm Deloitte — transitions from the black market to a legal one with an estimated 5 million existing customers across the country.