4 Stocks Winning Canada’s Medical Marijuana Market
With Canada’s medical marijuana business shifting to a free market, U.S. companies are quickly and strategically crossing the border to take advantage of all this $1 billion industry has to offer. Under the country’s Marijuana for Medical Purposes Regulations (or, MMPR), the planned transfer of production of medical marijuana to centralized commercial producers is expected to take place in April of this year. Growers are not the only businesses expected to gain in this new market; security firms, consultancies, and other cannabis-related companies can also expect to find their products and services in greater demand in this new legalized program.
Among these, four companies in particular stand out for their ability to anticipate regulatory changes, position themselves to take advantage of opportunities in this new environment, and establish alliances that enable them to maximize their collective opportunity for success: Creative Edge Nutrition (FITX.PK), Endexx Corporation (EDXC.PK), GrowLife (PHOT.BB) and RXNB Inc.
The Canadian Government has received several hundred applications from eager businesses ready to serve as legal marijuana producers once the new free market medical marijuana laws go into effect later this year. Only 3 have been approved by he government so far, with another 4 or 5 anticipated to follow suit.
Those with knowledge of the application process stress that what makes a company an acceptable candidate to Canadian authorities is a vigilant focus on quality control and compliance with government regulations at the forefront of operations. Equally important is a diverse and scalable business model, particularly in light of Health Canada’s prediction of 500,000 medicinal marijuana users in the country by 2023.