In July 2018, Canada is set to legalize recreational marijuana across the nation, causing an uptick in interest in weed stocks in Canada. Although Canada legalized medical marijuana some time ago, recreational use has not yet been legalized nationwide. Savvy investors who have been watching the market anticipate a marijuana stocks boom for weed stocks in Canada.
With the legalization of recreational marijuana just around the corner, six Canadian companies have made an announcement that promises to further bolster weed stocks in Canada.
Recently, six Canadian companies, Hydropothecary Corp., Aphria Inc., Canopy Growth Corp., MedReleaf Corp., Aurora Cannabis Inc., and Tilray–announced that they signed letters of intent with Quebec’s liquor board with the intention to supply cannabis and related products. The French speaking province expects to open 15 marijuana stores this summer alone, once recreational marijuana is legalized across Canada. Additionally, Quebec will control sales online.
This seems to be an excellent time to investigate weed stocks to invest in, with respect to the Canadian market.
These companies individually announced their deals with the Crown corporation, which will oversee marijuana sales in the francophone province through a subsidiary when recreational marijuana becomes legal later this year. This agreement seems to promise that marijuana stocks in Canada will have a bright future. It also gives investors an idea of which weed stocks to invest in.
Each of the six marijuana stocks companies brings something distinct to this agreement.
- Quebec based Hydropothecary Corp. will provide 20,000 kilograms (approximately 44,092 pounds) of cannabis products in the first year of legalized recreational cannabis in Canada. This product will be intended for use through a range of products.
- Aphria Inc., too, will provide a substantial amount of product–12,000 kilograms (approximately 26, 455 pounds), including cannabis oils, derivatives, and several strains of high-quality dried cannabis flowers grown in both Ontario and British Columbia.
- Canopy Growth Corp. is slated to provide 12,000 cannabis plants a year, but, it is uncertain what the crop will yield in terms of kilograms and pounds.
- MedReleaf Corp. will also provide the Quebec market with cannabis, committing to a minimum of 8,000 kilograms (approximately 17,637 pounds) of cannabis products per year.
- Aurora Cannabis Inc. will also supply 5,000 kilograms (approximately 11,023 pounds) of cannabis per year to Quebec consumers; however, the company did not sit a maximum limit. Aurora Cannabis’ products will primarily come from its production sites in Quebec.
- Lastly, Tilray will provide Quebec consumers with 5,000 kilograms (approximately 11,023 pounds) of cannabis per year, across a variety of brands and products.
Investors comfortable with taking a risk on a relatively new industry might benefit from investing in marijuana stocks.
Hydropothecary Corp., Aphria Inc., Canopy Growth Corp., MedReleaf Corp., Aurora Cannabis Inc., and Tilray agreed to sell marijuana products in Quebec, once pot is legalized in the province. These six companies and their commitment to the Quebecois legal pot market seems to indicate that marijuana stocks have a bright future in the Great White North. In fact, after July 2018, it seems likely that Canada might be renamed the Great Green North.
Of course, not every stock is guaranteed to make money, but marijuana stocks in Canada seem to have significant promise. To learn about how to make wise marijuana stocks investments, read Don’t Get Burned: 5 Must-Knows for Marijuana Stocks.