The legal use of recreational cannabis in Canada came into effect on October 17, 2018. The industry has grown rapidly since then - and so have the business opportunities. Doors are open for the small craft producer to make their mark. Cannabis-infused edibles and CBD products will hit the retail market later this year, and with that, a new industry is expected to emerge.
Even if your organization is not directly involved in the industry, legalization has had far reaching impact. For example, charities and not-for-profit groups have additional issues to consider when accepting sponsorships or donations from cannabis producers. Condo and strata corporations may need to make accommodations for residents with medical condition that require use of cannabis.
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48% – growth in the first 7 months of 2019 for federally-granted cannabis licenses
$344 billion – estimated amount spent on cannabis products world-wide
$2.7 billion – estimated annual worth of the Canadian market for edibles and alternative cannabis products
25% – of Canadians currently buy or are expected to buy edibles and alternative cannabis products
The rapid growth of the Cannabis sector means you need a legal team that understands the marketplace and knows how to deal with the complex regulatory environment. Miller Thomson’s Cannabis Group encompasses lawyers whose practices span multiple areas of law from corporate to labour & employment, to intellectual property and trademarks. Our team provides sound counsel and guidance to support your business goals and take advantage of new opportunities as they arise.
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