The Globe and Mail reports in its Saturday, Oct. 20, edition that Canadian cannabis producers have been eyeing global expansion. The Globe's Christina Pellegrini writes that
Canopy Growth, Aurora Cannabis, Aphria, Tilray, Cronos, Hexo and Canntrust Holdings have all telegraphed plans for growth elsewhere, either by exporting product into foreign countries or by building facilities and groups in other places. Some of the popular regions so far are Australia, Germany and Latin America.
Countries on five continents have already legalized medical cannabis -- and there are more on the way. Last month, Britain said it was reviewing how cannabis is scheduled for medical purposes.
Canada's early adoption of the use of medical marijuana and its legalization of recreational cannabis have provided Canadian companies with the expertise and war chests necessary to make a move into markets with larger populations and more potential customers who may be willing to pay higher prices.
Canopy co-chief executive officer Bruce Linton says, "The world is opening up almost instantly, and Canada is the best example on the planet." He adds: "The question is: Can we make the most of it? Can we get to every corner? We gotta move fast."
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