Millions of dollars of plants of marijuana set under bright lamps brighter than the sun at noon as the employees growing medical marijuana Canada, and which is currently the largest cannabis business, hurrying around the 47 giant growing rooms of its factory, which at one time made Hershey bars. This ex-factory is now the newest home to Tweed, under the parent company Canopy Growth and is the first Canadian marijuana growing company to debut on the New York Stock Exchange.
This company is valued at $10 billion and Canopy is currently worth more than Bombardier which is a Canadian manufacturer and one of the largest in the world in making planes and trains and offers a stark example of Canada’s newest get-rich-quick hope – the industry of marijuana for medical use.
2nd Country in world
On the 17th of October, Canada became only the 2nd nation in the entire world as well as the first chief economy to sanction the sell of marijuana for all uses. Companies are hurrying to join in on what is beginning to be called a green rush.
On the same day that marijuana became legal, the government of Canada also announced a program to help Canadians convicted of possessing only small amounts of marijuana to receive a pardon; this according to an official familiar with the plan. The official, who wishto remain anonymise, said that because several details still needed to be worked out, the program will not be active immediately. Pardons are to be available only for those people convicted of possessing 30 grams or less of marijuana, which is the limit under the new laws. This law also limits any products containing cannabis; for example edibles, and will not have any major legal changes until sometime next year.
This legislation also restricts heavily advertising and is loaded with the rules of bureaucratic including licensing and inspection requirements for all producers. But companies have already begun lobbying for rules that are more lenient. The fervour is evocative to the dot-com boom of the 1990s. The top 12 Canadian companies for marijuana companies are worth over 55 billion Canadian dollars, or $42 billion, and there are investors snapping up this stock.
Profits are a dream to come. For example, at Tweed, last year sales from medical marijuana business were only 77 million Canadian dollars with the company losing 70 million.