Despite the somewhat rocky rollout, and numerous reports of shortages, the legal cannabis industry in Canada is booming, providing plenty of opportunities for investors. While the industry is shifting to the recreational market, Canada is still a leader when it comes to medical research.
According to a recent report from Investing News, investors will approach 2019 pressing for results and ROI in Canada, as talks of legalization in the U.S continue to progress. While cannabis stocks continue to fluctuate with moderate growth, products can now be purchased in stores or online in every Canadian province, with demand reaching continued highs.
Canadian investors have not only an opportunity in the recreational market, but in the medical field as well, giving Canada the ability to be leaders in the field of cannabis treatment. It’s true that the medical cannabis industry has been operating for years in Canada; however, tight legal restrictions prevented it from being as readily available. The world is now quickly learning of the many emerging medicinal opportunities provided by cannabis, as well as its established homeopathic uses.
“This is a product that has been used for thousands of years,” said Malay Panchal, CEO of Pure Global Cannabis Inc. in a recent interview. “Cannabis and hemp use have been very widespread historically. Up until the late 1800s, it was the number one most prescribed medicine. Now we’re in the era of rediscovery, combining cannabis with leading-edge science and technologies to develop the targeted therapies of the future.”
A recent report noted the Multiple Sclerosis Society of Canada invested $1.5 million in cannabis research, looking for possibilities for treatment to manage symptoms and treat the disease itself. Their research, done in partnership with the Canadian Institutes of Health Research, notes the importance of investing as a first step to explore applications.
“I believe that over the next five years, there will be significant breakthroughs in using cannabis for treating major illnesses,” reiterates Toronto executive and co-founder of Hillcrest Merchant Partners, Mark Attanasio.
Explaining further, Mark Attanasio adds: “It’s obvious that there is strong interest in [cannabis’] therapeutic properties. As a venture capitalist, I foresee investment in cannabis startups will hit an all-time high as researchers continue to test cannabis and its properties as a treatment for a range of diseases.”
Wherever the recreational market leads, the industry is expected to grow over the next few years. This could provide ample opportunity for investors, in part because researchers rely so heavily on the private sector to supplement their funding.
Mark Attanasio’s partner, Donato Sferra, adds, “As legal cannabis goes mainstream, entrepreneurs are jumping at the chance to monetize the possible business opportunities surrounding it. The rapid growth of the cannabis industry, in both medical and recreational markets, shows signs of continuing; in other words, cannabis is a wise investment for the future.”
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