Global cannabis investors souring on Canada's potential
Canadian cannabis companies were virtually unanimous in citing global expansion as a key element of their growth plans
Tuesday, April 16, 2019
Six months after cannabis was legalized in Canada, many of the people in search of a financial windfall appear ready to turn their attention elsewhere. “We’re very bullish on the globe, on the U.S. -- not so much on Canada,” Loren DeFalco, partner at CB1 Capital, a New York based cannabis-focused investment advisory company, said at a cannabis investors’ conference in Toronto. His sentiments were echoed, in whole or in part, by other industry insiders. Reasons for the pessimism around Canada included advertising restrictions making it difficult to build a popular brand, consumers being unsure where to find trustworthy knowledge about cannabis and the slow rollout of retail distribution in Ontario and B.C., which has left many with no easy access to a physical cannabis store.
