Cannabis legalization named top Canadian business
The word “disruption” in the business industry has gained a lot of popularity while being an empty cliché. It is, however, difficult to think of an area in Canada that remains unaffected to be a business story of the year 2018.
All the reporters and business editors in the annual poll conducted across the country chose to use the topic ‘cannabis legalization’ with almost 60% of the votes cast. The pipeline of Canada would have possibly won the title according to a business columnist. The entire world was keeping a close watch when the country made a history with the first legal sale of non-medicinal pot on the October 17.
The era was marked as the establishment of a national experiment. It also represented an addition from the early target that was set for the month of July. The producers with valid licenses escalated the speed of production to meet the demand of the customers.
The cannabis had been sparkling strongly for many months before it was legalized. Many retail investors were showing tremendous interest in pot based companies. A gushing of acquisition and merger activities before it got legalized had boosted the interest of investors. In August, an Alcohol giant Constellation Brands had announced the plan of investing in the pot company. Moreover, even this month, a renowned tobacco company showed interest in growing cannabis once it gets legalized for medicinal purpose in the USA. The Marlboro Tobacco Company announced to invest $2.4 billion in pot producer Cronos Group Inc. for 45% ownership, with an alternative to expand the stake in the future.