Top Insights and Perspectives from Canada’s Cannabis Leaders
By Dec 12, 2018 0 Comments
Top Insights and Perspectives from Canada's Cannabis Leaders
Canada is the second country in the world to fully accept marijuana use in a political and social perspective after Uruguay did it five years ago. Let's find out what cannabis leaders have to say about the current status of Canada in terms of the social, economic, political, and medical aspects, and what it brings to cannabis seed banks in Canada, as well as sellers, retailers, and consumers. Let's find out!
Top Insights and Perspectives From Canadian Cannabis Industry Leaders
A national study was conducted which determined how well the existing licensed cannabis producers are prepared to give their full support to the post-legalization of cannabis. Senior executives and board members were interviewed. The licensed producers have different sizes, scales, revenues, and value chain activities. The five key themes were identified which provide opportunities for the marijuana industry.
The result of the study shows that only a handful of licensed producers are expected to thrive after the legalization of cannabis in Canada. Since cannabis is now accepted in the country, cannabis business owners, including licensed producers, need to progress and accelerate their operations. Consolidation is a high probability as the cannabis industry matures. The adjacent industries, as well as the type of competitors, will also shift. Ever company should employ people with the right talent and skills. Industry leaders should be keen on decision-making, committed, and build partnerships to thrive.
Cannabis Seed Banks in Canada: Status Unleashed
The full acceptance of cannabis in Canada allows the possession of up to 30 grams per person of "dried" marijuana, that is, already harvested and cured. For the users of some of the provinces or municipalities that have not yet regulated the retail market, the possibility was established of buying online buds (flowers), seeds or seedlings to companies that are in another region where they do. But smoking in public places will have the same restrictions that tobacco has, banned practically everywhere.
In addition, Canada legalized the self-cultivation. In less than a month, up to four plants per cycle for personal use can be sown and harvested in each household. It is similar to what Uruguay established, only that in the South American country up to six plants are allowed, and the State obliges growers to be part of a registry (as of September 18 it had 6,727 registered). It is another way to attack the macro business. Who reaps his plant does not go to the dealer. And who does not go to the dealer cancels the risk of running into another more harmful substance.
No one can sell or provide cannabis to a child less than 18 years of age. The law creates two new crimes, with maximum penalties of 14 years in prison, to which they seize by selling cannabis to young people. In addition, unlike what currently occurs with medicinal products, the new norm strongly restricts advertising (as with tobacco), which is supposed to help discourage consumption. It prohibits the packages from seeking to attract young people, selling cannabis in self-service vending machines (except where they do not have access to minors). And sanctions for violating these requirements involve fines of up to 5 million Canadian dollars ($ 3.8 million) or three years in jail.
Canada has been preparing for this moment since the Liberal Party of Prime Minister Justin Trudeau won the elections in October 2015 with a platform that included the total legalization of cannabis use. Only Uruguay has taken this step so far. The Senate sanctioned in December 2013 the law that regularized the production, sale, and consumption of marijuana, although it began to operate almost four years later, on July 19, 2017.
In other countries, legalization is partial or limited to regions. Therefore, an expert such as academician David Hammond, a professor at the University of Waterloo who specializes in public health, says that Canada's "is an experiment that many other countries are observing.
For that, the Government will invest $46 million over the next five years in educational campaigns that teach about the risks of consumption, especially in young people, since several studies indicate that the brain is developing until 25 years of age. 75% of the taxes collected by production and consumption will go to the Canadian provinces and the rest to the federal government.
The Economic Impact of Cannabis Seed Bank in Canada
The rationale behind acceptance of cannabis seed bank in Canada is "to keep cannabis out of reach of young people and benefits away from criminal hands," Bill Blair, former head of the Toronto Police and currently Border Security Minister of the Trudeau Government, explained last year. According to an official study, 4.9 million Canadians in 2017 spent about 5,700 million Canadian dollars (4,400 million US dollars) in cannabis. Of this figure, only 570 million dollars were used to purchase marijuana for medicinal purposes, something that is legal in Canada.
So the first consequence of this "green revolution" in Canada, and that has been felt for months, is economic. The imminent legalization of cannabis has generated a new industry throughout the country that is creating almost instantaneous millionaires and to which large companies have joined. The US multinational would be interested in creating beverages with cannabidiol, a non-psychoactive element of cannabis that can help treat anxiety, schizophrenia, nausea, and even epilepsy.
Meanwhile, significant supermarkets in Canada have already applied for permits to sell marijuana in their stores. On the production side, dozens of companies that have been growing marijuana plants for legalization for months have emerged. In recent weeks, the shares of Aurora Cannabis, Canopy Growth, and Tilray have soared to the point that the market capitalization of the major companies stood on September 12 in the record amount of 51,000 million US dollars.
However, the Canadian "green revolution" is not only benefiting investors and is having an impact on the population: Canopy Growth has revived the depressed town of Smiths Falls, with about 9,000 inhabitants and about three hours east of Toronto. Smiths Falls lost in 2009 its main source of employment, the chocolate plant of the American giant, Hersheys. The medical sector is also warning that cannabis affects adolescents' brains more negatively than alcohol. Therefore, the Canadian Medical Association Journal (CMAJ), the country's leading medical publication, has asked the government to amend the law to "prevent negative effects on health" if, finally, the use of cannabis increases with its legalization as of Wednesday.
Now Canopy Growth has chosen that old chocolate factory for the production of cannabis, has created 800 direct jobs and has again turned Smiths Falls into a tourist attraction thanks to the organized visits to its marijuana cultivation center. Cannabis seed banks in Canada are now free to conduct further research and development without worrying about anything in terms of compliance. Seed banks and breeders are now able to promote their products open to the market, thus competing equally to the black market. It means more profit for the entrepreneurs and more revenue for the Canadian government. It also means more jobs to the people.
The Social Impact of Cannabis
The other side of the marijuana revolution in Canada is social. A recent study indicates that cannabis use will increase by 35% after its legalization. And, for that reason, police bodies, public transport companies and thousands of companies throughout the country are now establishing the norms that will guide the consumption of cannabis among their employees.
In addition, organizations that fight against driving under the influence of alcohol have expressed concern about the danger that marijuana legalization could pose to road safety. In that sense, experts, like Professor Hammond, warn that the marijuana produced today is three times more powerful than the one that existed 20 years ago, which is why massive education campaigns are necessary. On the other hand, more people are now more open to the positive social impacts of cannabis. It is because this herb helps people become calm, more creative, and focused. Cannabis significantly help patients who are suffering from psychological disorders, thus helping the country when it comes to peace and order at the very least. The grey-black market of the cannabis underworld has major competitors, thus reducing their percentage, and soon eradicating them. Cannabis leaders in Canada have very positive insights and perspectives when it comes to the future of the country with cannabis now widely accepted, and they will never stop advocating the good use of cannabis, most especially for medical patients and responsible recreational marijuana users.
Cannabis leaders in Canada agree that there are tons of benefits that wide acceptance of cannabis in the country in terms of economic aspect. Of course, medical patients would benefit from this current situation where Canada allows possession of cannabis by its citizens. While there are many concerned citizens who are still doubting and worried about the effects of cannabis socially and when it comes to peace and order, the Canadian government is ready to accept the challenge with the help of cannabis leaders to ensure that drawbacks are minimized.