Ganja Growers in Canada Form Corporate Co-op
EDMONTON, Alberta – Investors are feeling good about investing in the growing cannabis industry. Expectations from experts estimate that the industry will be worth $17 billion within 5 years in the states, and that is with many states still prohibiting marijuana. It is looking like Canada will be the first country to legalize weed next July, and people are taking action after seeing the profits from the U.S.
Canadian Prime Minister Justin Trudeau indicated that Mary Jane will be legal by July 1, 2018. According to a CBS News poll, about 61 percent of Canadians approve of legalizing weed, which is part of the government’s decision to legalize it.
The share value of cannabis businesses in Canada has already skyrocketed. There is even some concern that with such a high demand, there won’t be enough of a supply. The Marijuana Business Daily has reported that a group of marijuana cultivators has developed a co-op called the Canadian Cannabis Co-op to invest in the industry. The co-op feels that regulating the already existing market is a better option than government-run dispensaries. The chairman of the co-op Darren Karasiuk says that the co-op is a great model for the other provinces, saying that, “We believe The Co-op model is a win for the government, the taxpayer and the consumer. It requires no taxpayer dollars, creates hundreds of direct jobs, generates a revenue stream for government above direct taxation and can be put in place by July 1st of 2018, ensuring Albertans have access to safe, regulated cannabis from a diverse group of companies.” It’s hard to argue with that logic.
Alberta has not made a decision yet as to whether dispensaries will be operated by the government or privately. The government is considering both options and has set up a survey for public feedback.
The twelve companies that make up the co-op are ABCann, Aphria, Bonify, CannTrust, Cronos Group, Emblem, Emerald, Hydropothecary, MedReleaf, Newstrike, Organigram and Tilray.