Canadian cannabis producers set their sights high

[webfact]

Canadian cannabis producers set their sights high
BY JOHN TILAK

(Reuters) - By unlocking the once-obscure medical marijuana market, Canada has created a fast-growing, profitable and federally regulated industry with a distinct appeal to the more daring global investor.

About a dozen producers of the drug will find themselves in the spotlight this year as they consider going public or prepare to so through share sales or reverse takeovers to capitalize on recent regulatory changes, investment bankers said.

The Canadian companies are in a race to raise money to build facilities, attract patients and grab shares in a market projected to grow to C$1.3 billion ($1.20 billion) in the next 10 years.

Full story: http://www.reuters.com/article/2014/06/13/us-canada-marijuana-ipo-idUSKBN0EO0BH20140613

-- REUTERS 2014-06-13

[Ulysses G.]

I don't think that pot is legal in Canada - other than the "medical marijuana" con.

[Smurkster]

I don't think that pot is legal in Canada - other than the "medical marijuana" con.

it maybe not be legal per se but it certainly isn't treated like a big deal and nor should it...

Great job these countries are doing finally starting to undo the useless prohibition of marijuana....hopefully the rest of the world will catch up one of these days...

[Guitar God]

I don't know why you refer to it as a "con". There is an increasing number of studies showing the theraputic effect of cannabis, particularly treatments with an extract know popularly as "Simpson's Oil" that stops seizures in epileptics, cures skin cancer, prostate cancer among many other conditions. A friend of mine, actor Thomas Chong was diagnosed with prostate cancer and he treated it with Simpson's oil and his doctors confirm that he is 99% cancer free. I didn't ask him how he applied or ingested it, but it worked...

The problem with investing in these Canadian Med-MJ companies is that the cost of the drug is more than the cost of patients producing it themselves, as they are currently allowed, and the selection of strains is limited. Canada is also overproducing so demand will be low.

Patients currently producing their own cannabis under the Marihuana Medical Access Regulations (MMAR) would lose their production license if they ordered from a commercial producer under the new Marihuana for Medical Purposes Regulations (MMPR) so most are not interested in purchasing from commercial suppliers.

There may be 1.3B CAD in demand in 10 years but those commercial producers won't be supplying it all, if they're even still around.

They had two official producers in the Netherlands and even with no license for patients with prescriptions available, neither one of them are still producing.

I'm not investing in it.

[joshstiles]

Don't forget.....you can buy it legally for recreational use in Colorado.....just south of Canada.....load up the truck and head on down

[Smokin Joe]

Don't forget.....you can buy it legally for recreational use in Colorado.....just south of Canada.....load up the truck and head on down

Not true, Pot is illegal in Colorado as it is everywhere in the US.

[joshstiles]

Wow....the ignorance is thick today....are you caught up on the most recent Colorado news? Oh bother.........

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[HooHaa]

Don't forget.....you can buy it legally for recreational use in Colorado.....just south of Canada.....load up the truck and head on down

Not true, Pot is illegal in Colorado as it is everywhere in the US.

where have you been smoking joe? seems you are well out of touch.

I have always wondered why people without a clue feel the need to make definitive statements.

[losworld]

Federally in the US it is actually illegal fact is the feds have chosen not to enforce and leave it at the state level.

[joshstiles]

Thank you Mr. Pacino

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[Smokin Joe]

Thank you Mr. Pacino

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Like I said, it is illegal in Colorado, and yes I know you can buy it there.

[joshstiles]

It is no use arguing with brain dsmaged people who don"t even google. This is what life under s rock does for people. Even potheads know more

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[Ulysses G.]

I don't know why you refer to it as a "con".

Because only a small number of the "patients" buying it have medical conditions that it helps. It is really - mostly - a back door to legalization. I am for legalizing it without pretending that it is because of something other than getting intoxicated.

[AhFarangJa]

Canadian cannabis producers set their sights high

I thought it would depend on how much of their product they used

[ggt]

Many other states are watching the Colorado cannabis situation closely...

Several states have sponsors who are trying to get legislation thru their respective gov'ts...

It is just a matter of time...before MJ use becomes widely accepted in the US...which begs the question...what about all those folk sent to prison...for possession...?

[Ulysses G.]

I don't think many people are in prison very long for possession of Ganja anymore in USA. Am I wrong?

[Jay Sata]

If drugs were legalised and controlled with addicts going to clinics instead of robbing and thieving to pay the mafia suppliers the world would see less death and destruction.

[HerbalEd]

Don't forget.....you can buy it legally for recreational use in Colorado.....just south of Canada.....load up the truck and head on down

Not true, Pot is illegal in Colorado as it is everywhere in the US.

You been living in a cave the past year? Both medical and recreational use of marijuana is now legal in Colorado and Washington state.

[HerbalEd]

Thank you Mr. Pacino

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Like I said, it is illegal in Colorado, and yes I know you can buy it there.

No ... that's not what you said. But I get it now ... you're being a troll to get some attention. Feel all better now?

[Tywais]

I don't think many people are in prison very long for possession of Ganja anymore in USA. Am I wrong?

A ton of it will get you a long stay. Otherwise it depends on if the Feds get you or the local/state police. Any amount is punishable by up to a year in jail and a fine of $1,000 on the first offense for the Feds.

http://www.legalmatch.com/law-library/article/federal-marijuana-laws.html

[HerbalEd]

I don't think many people are in prison very long for possession of Ganja anymore in USA. Am I wrong?

Unfortunately you are very wrong. There are thousands of people in American prisons for mere possession of even small amounts thanks to minimum sentencing. Many of them are otherwise law-abiding tax paying citizens who are taken out of society and instead of paying taxes are warehoused to the tune of billions of tax-payer dollars ... and often their spouse and kids go on welfare for the taxpayers to pay again. And to add to the tragedy, some come out of prison as hardened criminals. It's stupid, stupid, stupid.

[robinc]

Marijuana is illegal in Canada (except medical) but not for long. If the Liberals win next election part of their platform is the legalization of pot. If they don't win it's only a matter of time before it is legalized. Nowadays, if you are a recreational user and caught with possession of grass (and most police tend to turn a blind eye) they merely instruct you to dump it down a sewer unless you get lippy with the officer. I've been told by police officers that it isn't worth the paperwork to charge the user.

[Maroon Watcher]

Oooooh - Those Canadians!

[Jay Sata]

I don't think many people are in prison very long for possession of Ganja anymore in USA. Am I wrong?

Unfortunately you are very wrong. There are thousands of people in American prisons for mere possession of even small amounts thanks to minimum sentencing. Many of them are otherwise law-abiding tax paying citizens who are taken out of society and instead of paying taxes are warehoused to the tune of billions of tax-payer dollars ... and often their spouse and kids go on welfare for the taxpayers to pay again. And to add to the tragedy, some come out of prison as hardened criminals. It's stupid, stupid, stupid.

It sure is.

The so called war on drugs is an absolute failure and the drug barons captured are soon replaced by more.

[Tywais]

Thank you Mr. Pacino

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Like I said, it is illegal in Colorado, and yes I know you can buy it there.

Guess you missed the memo on the MJ vending machines in Colorado that are legal for both recreational and medical reasons but with an age restriction same as with alcohol and cigarettes. Some other states have them and more looking into it. Even Canada has them but for medical use.

[Smokin Joe]

I thought this would generate some comments about the problems created when a state "legalizes" something that is in violation of federal law. The bigger issue is that marijuana needs to be taken off Schedule I.

CO and WA have raised the bar by addressing recreational use, in addition to medical use, but the users are still vulnerable to some pretty serious consequences for their "legal" use.

Example: Some insurance policies won't pay out for a vehicle accident if illegal drugs are in the driver's system. If someone had an accident (other guys fault) but had THC in his system, what happens? And if the accident was out-of-state it might be a lot more trouble than denial of an insurance claim. I don't know what would happen but I wouldn't want to be the test case.

Here is an actual example of what DOES happen.

A worker in Colorado had THC in his system and was fired for illegal drug use. This was state-licensed medical marijuana use with a doctor's prescription. The worker took his company to court and won initially but here is what was ruled by the Colorado Court Of Appeals"

"The primary question before us is whether federally prohibited but state-licensed medical marijuana use is "lawful activity" under section 24-34-402.5, C.R.S. 2012, Colorado's Lawful Activities Statute. If it is, employers in Colorado would be effectively prohibited from discharging an employee for off-the-job use of medical marijuana, regardless that such use was in violation of federal law. We conclude, on reasoning different from the trial court's analysis, that such use is not "lawful activity."

So I do applaud Colorado and Washington for steps in the right direction it is much better if users understand the difference between "Legal vs. Legal but..." and fight harder for the removal from Schedule I.

[Lonis]

Medical research is growing fast! You can grow the plant now with CBD levels reaching 20%! (CBD is the chemical with medicinal values, most "high CBD" Strains are 1.5%) and I hear some of the new medicinal strains have THC less than 1%! Pure medicinal Colorado is a money maker! I would bet more states will follow soon.

http://forum.grasscity.com/index.php?/topic/1277190-DDPs-first-attempt

[Scott]

I have let a number of posts remain that discuss the situation in the US. This thread is about Canada. It's not about the US, Colorado or Washington. If you are going to use those places as examples, please do so in the context of a comparison to the Canadian situation and laws.

[beammeup]

OK so a Canadian with a possession of ganja, 30 years ago can not enter the US because of Reagans zero tolerance policy. With the relaxing of these laws will it likely become easier to enter the US and how about criminal record in Canada if they legalize it there?

[Guitar God]

I know Canadians who were turned away at the border and blacklisted from entering the U.S. because they truthfully answered "yes" when the immigration agent asked if they had ever smoked pot.

Canada will refuse to allow U.S. citizens entry if they know they have a dwi or a misdemeanor conviction. A friend from FL was arrested for possession of an "alligator" clip (roach clip) and they turned him away at the Canadian border.

I doubt this will change much until it's legal in both countries and anyone with a drug conviction is given amnesty or had their conviction expunged.