Silver Leaf Investment: An upstart marijuana investment company to watch in 2017

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

Marijuana is Growing Fast

The legal cannabis (marijuana) industry is booming. According to Forbes.com, it was worth an estimated $7.2 billion in 2016. With double digit annual growth, adult recreational sales alone are expected to jump from $2.6 billion in 2016 to $11.2 billion by 2020.

In addition to recreational sale, medical marijuana sales are expected to more than double to $13.3 billion by 2020. That’s a combined annual market of over $24 billionanticipated in just the next 3 years.

Does AG Sessions worry you?

Jobs, state’s rights, and taxes. That’s right. Jobs, state’s rights and tax revenue are the cannabis industry’s secret weapons against marijuana detractors in the Trump administration and elsewhere.

According to a survey conducted by Marijuana Business Daily, the marijuana industry already employs over 100,000 people in the U.S. alone.

Along with billions in sales, comes millions in tax revenue. Motley Fool estimated that in 2016, Colorado’s marijuana tax haul likely exceeded $200 million. That’s a lot of green. And it’s only going to continue to grow each year.

Continue reading “Silver Leaf Investment: An upstart marijuana investment company to watch in 2017”

Spotlight: Marijuana company Canopy Growth now in S&P/TSX Index

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

 

Canopy_Growth_Corporation_logo.svg

SMITH FALLS, Ontario – Another milestone for the cannabis industry was reached today

Canopy Growth [TSX:WEED], Canada’s largest and arguably most successful marijuana company – has been added to the S&P/TSX Composite Index. The index represents nearly 70% of the total market capitalization on the Toronto Stock Exchange and is considered a key benchmark for the Canadian equity market.

With the addition of Canopy Growth to the index, more and more investors will now be buying and holding weed.

Canopy Growth has a market capitalization of $780.6 million and a year-to-date stock price change of +192%. Canopy Growth is definitely a cannabis company to watch in 2017.


Update – March 27th, 2017
Legal Marijuana in Canada by 2018
Legal Marijuana in Canada by 2018

According to the CBC, PM Tradeau will announce legislation on April 10th – to legalize marijuana for recreational use in Canada by July 1, 2018!

Shares of Canopy Growth Corp. jumped 11% in trading on the news.

Continue reading “Spotlight: Marijuana company Canopy Growth now in S&P/TSX Index”

Is GOP led 115th Congress Shifting Views on Marijuana with new Legislation?

Copyright © 2017 All Rights Reserved
by Erik Muenker D.C. |  Exclusive CBDbusinessBlog.com

Breaking News: Multiple Marijuana Legislative Bills could Signal Shift IN GOP

At least two bills have been introduced by Republican lawmakers in the past 6 weeks, that would end federal marijuana prohibition.

I’m Just a Bill – H.R. 715

On January 27th, 2017 – House Republican Rep. Griffith Morgan from Virginia introduced H.R. 715 to the 115th Congress. Legislation that would reschedule marijuana from a Schedule 1 Controlled Substance, AND exclude cannabidiol (CBD) from the definition of marijuana

Read more by clicking the image below.

HR715 De-schedules CBD

 

I’m Just a Second Marijuana Bill!

On February 27th, 2017 – House Republican Rep. Thomas Garrett of Virginia introduced legislation entitled, Ending Federal Marijuana Prohibition Act of 2017.

Rep. Garrett’s legislation, if it becomes law, would end federal prohibition by removing marijuana from the Controlled Substances Act. This would in effect, leave marijuana legality/policy up to the states.

Rep. Garrett has been a vocal Trump Supporter and the timing of his bill is worth noting. AG Sessions himself suggested during his confirmation hearings – that if congress didn’t like his approach to marijuana law enforcement, they should change the laws accordingly.

Perhaps the Republicans are attempting to do just that?! First with a stick, then with a carrot?

Garrett’s office released a press release to coincide with the legislation’s introduction:

WASHINGTON, D.C. – Today 5th District Congressman Tom Garrett introduced legislation aimed at federally decriminalizing marijuana.

The short title for this legislation is cited as the “Ending Federal Marijuana Prohibition Act of 2017.” If passed, this bill would take marijuana off the federal controlled substances list – joining other industries such as alcohol and tobacco.

Garrett went on to say,

“this step allows states to determine appropriate medicinal use and allows for industrial hemp growth, something that will provide a major economic boost to agricultural development in Southside Virginia. In the coming weeks, I anticipate introducing legislation aimed at growing the hemp industry in Virginia, something that is long overdue.”

Senators on Marijuana in 2017

Take a listen to Senator Schatz as he blasts AG Sessions on the Senate floor, February 8th, 2017 – over his comments disparaging marijuana.

According to the Associated Press (article), Senators from eight states with legal recreational marijuana (Washington, Colorado, Nevada, California, Oregon, Massachusetts, Maine, Alaska), sent a letter to Attorney General Jeff Sessions on March 2nd, 2017 – asking him to uphold the Department of Justice’s existing enforcement policy toward marijuana.

Among those who signed this letter where Senators Elizabeth Warren and Edward Markey.

United States Marijuana Map Twitter
2017 Election  Marijuana Map

Related: Election 2016 – Marijuana Legalization Spreads Across the U.S.

Trump on Marijuana

Republican Presidential Candidate Donald speaks in front of a crowd in Reno, Nevada on October 29th, 2015.

Listen to Trump’s answer, when asked how he would approach medical and recreational marijuana.

Continue reading “Is GOP led 115th Congress Shifting Views on Marijuana with new Legislation?”

Marijuana: The Big Weed Money on Vice News

Vice News: The Big Weed Money

VICE News gets an exclusive look inside Canopy Growth Corp., the Canadian marijuana producer that calls itself the world’s largest legal weed company.

After the Vice video about the Canopy Growth Corp was published, it was subsequently restricted to the UK audience alone.

Link to UK restricted video. Once the video is republished without this restriction I will update this post with the new version.

Until then, I have substituted the video with another from Vice News – intended for the U.S. audience:

So far the company has only been allowed to sell to medical patients, but that will all change when prime minister Justin Trudeau makes good on his promise to legalize marijuana for recreational purposes. And that’s especially good news for Canopy, which has been gearing up to dominate the future recreational market for years, even though the government hasn’t yet even unveiled its legalization plan. This year, its subsidiary Tweed announced a partnership with Snoop Dogg, and it became the first weed company to list on a major stock exchange.

But there’s questions around the corporation’s deep ties to the ruling Liberal party, and how much influence it has over government policy and who will get left out of Canada’s future weed regime.

UK Gov Concedes CBD (cannabidiol) from Cannabis is Medicine

CBD News Pick – Independent.co.uk

Exclusive: The MHRA’s assessment could ‘provide ground-breaking results’ in leading to reform over cannabis’ medicinal use in the UK

The government’s Medicines and Healthcare products Regulatory Agency (MHRA) has found that Cannabidiol (CBD) has a “restoring, correcting or modifying” effect on “physiological functions” when administered to humans, in a potential milestone in the campaign to legalise cannabis and bring about evidence-based laws regarding drugs.

The review of CBD, a cannabinoid accounting for up to 40% of the marijuana plant’s extract that doesn’t contain its psychoactive THC but is purported to retain the health benefits, came about following discussions with CBD vaporiser company MediPen.

uk-gov-admits-cbd-a-medicine

The MHRA’s findings are not directly applicable to the government’s response to last year’s petition to legalise cannabis, but stand in stark contrast, with the petition having been batted away by the Home Office with the assessment that cannabis “can unquestionably cause harm to individuals and society”.

GW Pharmaceuticals has also just concluded a positive phase 3 clinical trial demonstrating the safety and efficacy of CBD.

“Since our inception we’ve worked hard to obtain our goal of breaking down the negative connotations surrounding Cannabis to lead to a reform in the law for medicinal use,” Jordan Owen, Managing Director of MediPen, told The Independent, “now this is finally becoming a reality, which will provide ground-breaking results,”

Click here to continue reading the published article.


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Cannabis Conference ICBC comes to Vancouver Oct 13-14

CBD News Pick – Vancouver Sun

At Vancouver’s next big weed get-together, you can expect less tie-dye and more suit-and-tie.

Organizers of the International Cannabis Business Conference this week at the Hyatt Regency Hotel in downtown Vancouver expect a crowd of 650 or more to attend over Thursday and Friday.

And with tickets to attend the conference running upwards of $600 each, the event might have more of a corporate feel than the average 4/20 rally.

There has been no shortage of cannabis conferences passing through Vancouver in recent months: the Cannabis Hemp Conference came to the Westin Bayshore in July, and last month brought both Canadian Cannabis Business Week and the Lift Cannabis Expo to downtown Vancouver.

But the International Cannabis Business Conference seeks to differentiate itself from other events with its global scope and ambitions, said conference organizer and founder Alex Rogers this week. The first editions of the conference were held in San Francisco and Portland, and next April, organizers will take it to Berlin. Plans are in motion, Rogers said, for 2018 events in Australia and Croatia.

Rogers has lived and worked in five different countries, including a six-month jail sentence in Germany after a conviction for cannabis trafficking, an experience he said prompted him to “make the decision to get my life together.”

“I am international citizen,” he said. “I’m a global soul. So my goal was always to take this international.”

Rogers said it is no coincidence that Vancouver will be the first city outside the U.S. to host his event, adding: “Historically speaking, Vancouver is one of the cannabis capitals of the world.”

“I think it’s up to Canada and Vancouver to stay the leaders in this game,” he said. “They need smart, progressive policy that keeps Vancouver and Canada a leader in the cannabis world for another 100 years.”

Speakers at this week’s event include Dr. Gabor Mate, a Vancouver-based physician renowned for his writing about the science of addiction, and Kirk Tousaw, a lawyer and cannabis reform advocate. Tommy Chong, another cannabis legend with ties to Vancouver, will also appear.

Friday’s keynote speaker will be Brendan Kennedy, CEO of Privateer Holdings, a private company based in Seattle with employees in five countries (including about 130 Canada), and ambitions to be a leader in both the medicinal and recreational cannabis markets.

Privateer subsidiary Tilray, a federally licensed cannabis production facility on Vancouver Island, made history this year by becoming the first Canadian company to legally export medical marijuana overseas, said Kennedy, adding: “We’ve always viewed this industry as a global industry.”

Click here to continue reading the published article.


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Jamaica Changing Course to Embrace Marijuana

CBD News Pick – New York Times

MONTEGO BAY, Jamaica — Jamaica has long bemoaned its reputation as the land of ganja.

It has enforced draconian drug laws and spent millions on public education to stem its distinction as a pot mecca. But its role as a major supplier of illicit marijuana to the United States and its international image — led by the likes of Bob Marley, whose Rastafarian faith considers smoking up a religious act — have been too strong to overcome.

Now, its leaders smell something else: opportunity.

Having watched states like Colorado and California generate billions of dollars from marijuana, Jamaica has decided to embrace its herbaceous brand.

Rather than arresting and shunning the country’s Rasta population, the Jamaican authorities will leverage it. Beyond decriminalizing the possession of small amounts of marijuana last year, Jamaica has legalized the use of medical marijuana, with its ultimate sights set on “wellness tourism” and the font of money it could bring.

And for good reason: Jamaica has one of the lowest economic growth rates in the developing world, a striking contrast to the global success its citizens have enjoyed in the worlds of sports and music.

So, having done just about everything experts say a stupendously indebted nation should do — sticking to austere fiscal plans, adopting prudent macroeconomic policies and creating a friendly climate for outside investors — Jamaica is adding marijuana to its arsenal.

The new world order has brought together an odd assortment of characters. At a recent conference at a luxury hotel in Montego Bay, besuited government officials and business leaders mingled with pot farmers and Rastafarian leaders like First Man, who kicked off the conference with a speech on the global benefits of ganja.

“We are talking about a plant that bridges the gap between all of our relationships,” First Man, barefoot with a Rasta scarf around his neck, said to a packed room. “Our planet needs this relationship to happen.”

As the head of a Rastafarian village in Jamaica, First Man was speaking at the first CanEx conference, a gathering of government and local leaders trying to figure out just how the country can most effectively make this about-face, without neglecting international law.

No one is really clear how the industry will evolve. Technically, the United Nations convention on drugs — which requires nations to limit the production, trade, use and possession of drugs — still prevails, meaning that outright federal legalization is, well, illegal.

But with the United States and Canada edging toward permitting the drug’s use, Jamaica wants in, too.

“In the past, the United States really left no room for maneuver,” said Mark Golding, the former minister of justice who developed the legislation to permit medical marijuana production in Jamaica. “But with the Obama administration creating an opportunity for states to do what they wanted to, it created a window for all of us.”

“Where the real market is, and where the real money is, remains to be seen,” he added. “We are all just preparing for it.”

For some, society is at the beginning of a post-Prohibition era, much as it was with alcohol decades ago, when global brands and untold billions were still to be made.

Click here to continue reading the published article.


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Epidolex Cannabis Drug Could Help Thousands with Epilepsy | Hospital Trial Promising

CBD News Pick – Mirror.co.uk

As many as a third of the UK’s 600,000 epilepsy sufferers are drug resistant with some suffering as many as several dozen seizures a day.

Experts believe the drug derived from cannabis, with the addictive element removed, may help. 

Medics are trialling a drug derived from cannabis that could revolutionise the treatment of epilepsy .

Doctors at Great Ormond Street Hospital are trialing the revolutionary ‘cannabis’ drug that could transform the lives of thousands of people with epilepsy.


Related News – GW Pharma & Cannabis Stock News

At present as many as a third of the UK’s 600,000 epilepsy sufferers are drug resistant with some suffering as many as several dozen seizures a day. Now experts believe a drug derived from cannabis, with the addictive element removed, may help.

The medics are part of an international trial of more than 200 children adults of the drug for a rare form of epilepsy called Lennox-Gastaut Syndrome where sufferers can experience up to 80 seizures a day.

The phase three trial results have been dramatic with the drug working for 42 per cent of patients compared to 17 per cent on placebo. Lennox-Gastaut Syndrome starts in pre-school years and one of the children in the UK trial was just two years old.

Professor Helen Cross, the Great Ormond Street neurologist, heading the UK arm of the trial involving 15 patients, said: “The results have been encouragingly good with patients having many seizures a day having their fits reduced to a handful.

“If this drug works on one of the most extreme forms of epilepsy then we believe it should work for patients whose epilepsy is not controlled but who have fewer seizures”

Earlier stage three trials for another rare form of epilepsy – Dravet Syndrome -produced similarly good results. Cambridge based GW Pharmaceuticals which makes Epidiolex has seen its share value rise by 123 per cent as a result of the success of the trials into epilepsy.

Experts expect regulatory authorities in Europe and the USA to give the drug approval next year. It contains 99 per cent pure cannabis with the psycho-addictive element removed.

Dr Cross, who is one of the UK’s leading paediatric neurologists, said: “It is devastating for families and patients when a child or adult with Lennox-Gastaut Syndrome has so many seizures in one day.”

She add: “If the drug helps this small group of patients it is sure to help thousands of others who are drug resistant and still have daily seizures.”

No one knows exactly how Epidiolex works to stop seizures, but it is believed to dampen the excessive electrical activity in the nervous system that is the trigger for many attacks.

GW is also conducting trials of various strains of cannabis chemicals- there are more than 100- to treat cancer and it has a licensed mouth spray Savitex to control the painful muscle spasms in Multiple Sclerosis. It is also being trialled to treat the side effects of chemotherapy in cancer and as a cancer treatment itself in brain tumours.

Click here to continue reading the published article.


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GW Pharma Cannabis Drug Effectiveness | Increases Pressure on FDA

CBD News Pick – Forbes

British biotech company GW Pharmaceuticals announced positive results on its latest Phase 3 clinical trial for its drug Epidiolex. The drug is  cannabidiol-based and is used to treat children with Lennox-Gastaut syndrome, a rare form of childhood epilepsy.

The results from the test were very positive. Patients taking 20mg of Epidiolex saw their seizures on average drop 42% compared to a drop of 17% in patients taking a placebo. Patients taking 10mg of Epidiolex experienced a 37%  drop in seizures versus the 17% drop in the placebo group.

The next step for GW Pharmaceuticals is to seek approval from the U.S. Food and Drug Administration or FDA for approval. The company said it expects to submit a New Drug Application with the FDA in the first half of 2017. If approved, it would be the first plant-derived cannabinoid drug in the U.S. to be approved. After the FDA approves a new drug application, the Drug Enforcement Administration (DEA) legally must reschedule within 90 days (per the Improving Regulatory Transparency for New Medical Therapies Act). So, Epidiolex would be rescheduled by DEA within 90 days, but overall marijuana would not be rescheduled.

This further complicates the rescheduling argument. How could the DEA declare Epidiolex, cannabinoid drug a medicine, but then still insist marijuana has no medicinal benefits? Of course, they do that now because the U.S. government has medical patents on marijuana and still declare it has no medicinal qualities.

GW Pharmaceutical stock is up 26% for the past year and was lately trading near $124.

It shot up earlier this month when rumors swirled about the company’s  buyout potential. Then a week after the stock popped 20% on the rumor, the chief medical officer Steven Wright sold 16,524 shares at $98.75. Wright informed the company in August that he planned to retire in May 2017, so he may have seen an opportune moment to sell his shares.

Click here to continue reading the published article.


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Inside Barcelona’s Private Marijuana Clubs

CBD News Pick – USA Today

It’s a pleasant summer evening in Barcelona’s Gothic Quarter. The plazas are bustling, and it seems every bit of storefront is a bar or a restaurant. But one inconspicuous door opens to a different kind of place.

The sign says “Smokers’ Club” in English. A small surveillance camera watches over the door.

Inside, artsy drawings hang on a brick wall. A hall leads to a chill-out area, where mostly young people are sitting on low couches, chatting, drinking and smoking. There are TVs, a DJ booth and a little bar in the back.

This might look and feel like any cafe, if it weren’t for the funk of marijuana in the air — what they’re smoking are joints of cannabis, obtained from a small dispensary next to the bar. A contribution of 10 euros ($11.25) will get you between 1 and 3 grams, depending on the strain. That’s the lingo in these nonprofit cannabis clubs.

In northeastern Spain, Barcelona and the greater Catalonia region are famous for things like wine, amazing architecture, their own proud language and rebellious culture. And soon, the region could gain fame for something new: marijuana regulation.

An initiative in the Catalan parliament aims to drag smoking pot out from a shadowy area of the law, and allow club members to legally grow and share their weed among themselves — but not with nonmembers or tourists.

“[Cannabis] is a soft drug. Meeting friends for a few glasses of wine is like meeting here,” says Laia O., a 33-year-old tattoo artist and a member of the club in the Gothic Quarter, who doesn’t want to reveal her last name. “Besides, here you know the quality, you know what you are smoking.”

This club is one of the 268 members-only cannabis associations registered in Barcelona. It’s estimated there are more than 200,000 members in the city of 1.6 million people.

Some clubs are like this one: cafe-like and cozy, art on the walls, books and board games. But most are smaller and simpler; little more than an indoor space where folks get their pot privately and safely.

They’re not like Amsterdam’s coffee shops, or Colorado’s dispensaries for that matter. Here, to join a club you have to be personally sponsored by a member. Then you wait, sometimes days, before you’re allowed to have any pot. No outsiders are permitted. Tourists are usually not welcome. And in almost every case, you would pass by a club’s door and not even notice it.

In Spain, marijuana is actually illegal, and that includes for medical use. But the clubs are protected by two facts: Private consumption isn’t penalized, and the right to associate is constitutionally guaranteed.

The clubs function as nonprofit associations. Members pay a small annual fee and pool money to fund the operation, each according to how much weed they commit to (usually capped at 100 grams per month). This means there’s technically no selling or buying involved, according to the clubs, and consumption is private as long as the pot doesn’t leave the premises.

However, they do foray into criminality while growing, processing and transporting marijuana. In the last couple of years, the authorities have shut down several clubs and convicted their officers of drug trafficking or other offenses. Usually officials had found a big plantation and then a judge ruled the club couldn’t guarantee weed wouldn’t reach outside nonmembers.

“That we can open and run this place but we can’t grow [cannabis] is like telling a baker he can sell bread but can get no flour,” complains W., a 51-year-old club officer who doesn’t want to reveal his name.

This situation could change. This month, Catalonia’s parliament began reviewing a citizens’ proposal to regulate the clubs and allow them to grow, process, transport and distribute marijuana in a controlled way, under a not-for-profit model.

To avoid pot tourism, the plan requires new club members to wait 15 days to get their weed.

The initiative — called La Rosa Verda in Catalan, or The Green Rose — has wide backing. Even Barcelona parent-teacher associations openly support it; they say they have far bigger substance abuse problems with tobacco and alcohol near schools.

All but 11 of the 135 regional legislators are in favor of the proposal, which activists are confident will be passed next year. If so, it would be the first such law in Europe as things stand today.

Even in the Netherlands, growing, processing, transporting and selling cannabis are not legal, but distributing small amounts in coffee shops is tolerated by the authorities.

Conservative lawmakers among the 11 dissenters condemn the initiative as drug “legalization,” and they say that’s just wrong.

“Information campaigns about the effects of drugs, especially for the young, and the fight against drug cartels, must continue,” Alberto Villagrasa, a Popular Party legislator, said in the Catalan parliament in late July. “But to legalize [drug] consumption gives the wrong message to society.”

“To legalize [drug] consumption gives the wrong message to society,” Alberto Villagrasa, one of the few lawmakers who oppose the initiative.

However, the initiative would not legalize marijuana outright — regional officials in Spain don’t have the authority do that, although some wish they did.

The Green Rose is the result of more than 20 years of activism, after the first cannabis association tried to grow pot collectively for private use in 1993. Its officers were found guilty of drug-related offenses. But from then on, the nonprofit association model developed slowly after years of trial and error, and cat and mouse with the authorities.

At the end of 2008, there were reportedly just 12 cannabis clubs in all of Spain. By mid-2014 there were about 300 clubs — in Barcelona alone, reportedly taking in 5 million euros a month.

Some of the clubs were in it just for the money, advertising to tourists and selling weed illegally. Local authorities were alarmed and launched an offensive that closed 49 clubs.

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JAMA Study – Cannabis May Relieve Many Ailments

CBD News Pick – The Guardian

Queen Victoria was prescribed cannabis for period pains, and 19th-century American doctors used it for everything from anorexia to sexual problems.

And now the US is embracing medicinal cannabis again – it’s legally available in 25 states for conditions such as Aids, anorexia, arthritis, cachexia, cancer, chronic pain, glaucoma, migraine, muscle spasms from multiple sclerosis, seizures and severe nausea.

The list is for comparison: in the UK, the only indication for medical cannabis is for painful, tightening muscle spasms (spasticity) in multiple sclerosis. Sativex, an oral spray that uses two chemical extracts from the cannabis plant – delta-9 tetrahydrocannabinol (THC) and cannabidiol (CBD) – was the first medicinal cannabis licensed in the UK. Medicinal cannabis, you see, does not mean treating yourself by smoking weed. Cannabis comes as a proper drug – Sativex costs too much for the health watchdog Nice to recommend and only a handful of specialist doctors will prescribe it.

The solution

Last week’s report from the all-party parliamentary group for drug policy reformrecommended medicinal cannabis for chronic pain, spasticity, nausea and vomiting after chemotherapy and for anxiety. There is good evidence to use cannabis products or “natural” cannabis, they said, for all these conditions – and moderate evidence for use in sleep disorders, fibromyalgia and post-traumatic stress disorder. The evidence came from a review based on 20,000 references – although, in places, they were quite generous in their rating of the evidence.

A systematic review of the same question – the benefits and adverse effects of medicinal marijuana – was published in the Journal of the American Medical Association (JAMA) last year with similar conclusions – but found the evidence overall to be weaker, and not there at all for anxiety.

Click here to continue reading the published article.


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Vancouver Cannabis Expo Shows Breadth & Growth of Marijuana Industry

CBD News Pick – The Canadian Press

A two day marijuana exhibition in Vancouver is giving people an idea of just how large and varied Canada’s cannabis industry has become — and where it could grow next.

More than 100 businesses set up booths to showcase their wares at the Vancouver Cannabis Expo, but not a single cloud of smoke could be seen in the massive hall.

The expo is helping to break down stereotypes and prove there’s a credible side to the industry, said Natasha Raey, spokeswoman for Lift Cannabis Co., which put on the show.

“It’s not just someone selling bud out of a ziploc bag anymore. You’re seeing real brand development. The industry is growing up,” she said.

A variety of wares were available throughout the hall. Among the booths selling seeds and growing equipment were some potentially unexpected exhibitors, including a firm that provides financing for marijuana-related businesses.

“As we’ve moved closer to legalization, we’ve seen a more corporate side of the industry come about. You’re seeing more businesses get interested and say ‘How can I be part of this industry that’s going to be huge?”‘ Raey said.

There has been extreme growth in the marijuana business over the past few years, said Matt Christopherson, who works for Keirton, a company in Surrey, B.C., that makes automatic marijuana trimmers used in large-scale marijuana production facilities.

“It’s no longer mom and pop. There’s a lot of money coming into this industry that legitimizes everything,” he said.

As the industry grows, the stigma traditionally associated with marijuana begins to fall away, Christopherson added.

“There’s a lot of people who are capitalists and they see this as an emerging market, one of the fastest growing sectors in the world.”

Working within the industry has become easier in recent years because more data has become available, said Scott Wilkins, an independent insurance agent who has spent the last eight years providing policies for people who grow marijuana.

Wilkins said his work began when a man with a Health Canada license approached him looking to get insurance so he could rent a commercial building, which was incredibly difficult at the time.

Now Wilkins said he has more than 800 clients, including big companies licensed by the federal government. And he expects his business to continue growing as the federal government moves toward legalizing marijuana for recreational use.

Click here to continue reading the published article.


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