In 2018, it was seemingly every week that cannabis companies with US operations went public on the Canadian Securities Exchange went public via a reverse merger on the Canadian Securities Exchange.
Vita, a former Goldman Sachs investment banker, said that the new public listing would provide fuel to pursue acquisitions to enter new states and the European market.A Canadian investment bank is quietly pursuing a critical regulatory approval that would solve one of the biggest pain points for the US marijuana industry
To be more specific, Vita said Ohio, Pennsylvania, and Illinois all have exciting potential as medical cannabis markets. And, despite California's crowded recreational marijuana industry, Vita said"no one is focusing on the medical patient" there.Vita said Columbia Care is working on bringing pharmaceutical-grade medical marijuana products to California, both in their own dispensaries and with partnerships.
Vita said Columbia Care holds valuable licenses in the European Union, and that the company will see"meaningful" revenue from the EU this year. Tilray recently opened an EU campus in Portugal, including outdoor and greenhouse marijuana cultivation sites, as well as research labs, packaging equipment, and offices. And not to be outdone, Canadian cannabis behemoth Canopy Growth recently acquired a Spanish marijuana cultivator, Cafina, and owns licensed grow facilities in Denmark and Germany.
"It's almost better to push back against the tide, of conventional wisdom, and sort of take each problem and work through it in a staged way," added Vita."We're prepared in any eventuality, that being said."
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