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Home 🌿 Marijuana Business News 🌿 The business of marijuana: As legalization looms, who is poised to profit? The chosen few 🌿The business of marijuana: As legalization looms, who is poised to profit? The chosen few
Is marijuana the next billion-dollar industry in Canada?
If you ask people who work at medical-marijuana companies like Tweed and Hydropothecary — which have invested millions of dollars to comply with Health Canada’s strict rules governing medical marijuana — the answer is, “we sure hope so.”
Last month, on Nov. 13, Prime Minister Justin Trudeau sent Justice Minister Jody Wilson-Rayboulda mandate letter asking her to work with the public safety and health ministers to “create a federal-provincial-territorial process that will lead to the legalization and regulation of marijuana.”
Companies that have established themselves as medical-marijuana producers under the regulations are poised to dominate the recreational marijuana market if and when it comes to be.
“We have a really solid chance at building a billion-dollar company,” says Sébastien St-Louis, the CEO of Hydropothecary, a Gatineau producer of medical marijuana.
When his company launched in 2013, St-Louis says the first $3 million of investment came from friends and...
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