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The New York Times ran a big story on the legal weed boom in Canada.
Last year, Canada’s licensed cannabis companies produced 20,000 pounds of dried marijuana. Once weed is legal for recreational use in Canada, demand is expected to explode to 1.32 million pounds!
Canada’s 54 licensed producers are raising cash and ramping up production as quickly as possible. But they can’t do it fast enough.
As a result, there will be a massive shortage. That’s likely going to keep prices for cannabis high. And could boost profit margins for companies in this growth sector.
The Times reports that 3.5 million Canadians ̶ or about 12% of the population ̶ use cannabis now. And that number could grow starting July 1, 2018.
Now is the best time to get invested in the RIGHT stocks.
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Pot Stock Briefing
Judge Protects Marijuana Growers from Attorney General
A U.S. district court judge in California just stopped Attorney General Jeff Sessions in his tracks . . . to protect marijuana growers from the reach of the feds.
The judge ruled that a 2014 law prohibits the federal government from targeting cannabis growers IF their activities are legal within their own state.
The ruling was a huge blow to Jeff Sessions and the Department of Justice. He’s promised to crack down on the entire cannabis industry.
The good news is that 60% of Americans advocate for 100% legalization . . . and judges are ruling that state laws trump federal laws.
Canada Approves More Cannabis Producers
The number of licensed producers in Canada has grown 20% over the past few months.
Since the regulators changed the application process in May, nine new licenses have been awarded. Canada now has 54 licensed producers of cannabis.
The move is in response to growing demand for legal weed in Canada. The number of medical patients using legal cannabis has tripled within the last year, and now stands at 167,000. The market will explode in mid-2018, when recreational use is expected to be approved.
Cannabis Biotech Acquired for $38.5 Million
Maricann (OTC BB: MRRCF) has agreed to acquire NanoLeaf Technologies in a deal valued at $38.5 million in stock.
NanoLeaf is a biotech company that has patents for delivering cannabis orally using a soft gel capsule.
Maricann is a medical marijuana producer in Canada. The company is expanding its production with a new 217,000-square-foot facility. Maricann is also raising up to $35 million in a private placement to fund the expansion of its production facilities.
Exclusive Research: Pot Stock Summit
Next week, I’m hosting an exclusive 100% legal pot stock briefing.
Join us to discover what’s happening in the U.S. and Canada . . . and the best pot stocks to BUY NOW.
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Market Snapshot
Weekly Performance (Monday – Thursday):
North American Index: -1.9%
Horizon Medical Marijuana ETF: +0.5%
Looking for the next hot “pot stock” ̶ BEFORE it takes off?
One small company was founded by a former Big Pharma executive. The company has set its sights on replacing opioids with cannabis. And the initial progress is significant.
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