For almost 15 years medical marijuana patients had access to dry cannabis leaf but not legally permitted to medicate in any other way. With medical marijuana restrictions finally lifted, patients across Canada are rejoicing.
What does this mean for Canada’s medical cannabis culture? As soon as Health Canada adds edibles to their medical licensing program (which hopefully happens soon), cannabis oil production is going to see a huge boom in business.
“Right now, Canada is only looking at roughly $1.5 million of medical sales a year, a number that is sure to skyrocket as soon as oil can be legally produced and offered to the medical public.”
Just ask Brandon Krenzler, marketing director of Portland, Oregon’s Sirius Extracts oil extraction company who says “the future of the extract market is the future of this industry.” Cannabis oil is in demand, and it is now going to be up to Canadian oil producers to meet this with a steady supply.
In 2014, Colorado sold over $385 million in medical marijuana with many of these sales in the form of oils and edibles (they make up 30-60% of all legal marijuana purchases). Right now, Canada is only looking at roughly $1.5 million of medical sales a year, a number that is sure to skyrocket as soon as oil can be legally produced and offered to the medical public.
David Posner, the CEO of Nutritional High and Canada’s only company currently working in the edibles market, says “Once edibles open up, we’d be ready to get involved, either as a producer or as a partner for companies looking to produce.” Many companies already have their eye on the market and with Canada’s restraints on medical marijuana policy lifted, Posner won’t have much trouble finding people to partner up with.
No more restrictions not only means better medicine, but a boom in business that will seriously stimulate Canada’s economy. So to all those who were against lifting these ridiculous laws? Put that in your pipe and smoke it.
No comments:
Post a Comment