FLORIDA: Canadian and North American Cannabis companies are quickly ramping up operations getting ready to meet the anticipated surge in demand when recreation customers could start ordering across Canada.
Bill C-45, which will legalize cannabis across the country, largely leaves it up to the provinces and territories to determine how marijuana can be sold and used. Canada’s Cannabis Act was introduced in the Canadian Senate this week, its last legislative stop. It appears the bill enjoys wide public support and the backing of Prime Minister Justin Trudeau.
Retailers have been preparing to start selling legal marijuana in July, so the timing could be tight. But Canada’s recreational marijuana market is expected to mean big dollars. Deloitte estimates the market will be at least $5B in sales in 2018, with an ancillary market of associated goods and services that could add another $20B. Current legalization efforts could be a wakeup call to all investors who were sitting on the sidelines as Canada is setting up and ready to make billions from legal marijuana operations.