There are more than 150,000 Canadians working in legal cannabis, and millions of licensed square feet of cannabis greenhouses in this country produce more than a billion grams a year. A flag with a cannabis leaf is held on Parliament Hill in Ottawa, on April 20, 2016.Forgotten in the midst of the 2020 cannabis stock market meltdown is the production, employment and real estate boom that emerged from the end of marijuana prohibitionon Oct.
The hype, the stock pump-and-dumps, the bad actors and the valuations that towered over revenue figures like storm clouds over the beach turned people off the industry. But cannabis production thrived – quickly, regulated, and at scale. . When the Cannabis Act was passed, the legal market grew from about 350,000 medical users to 28 million potential new customers over the age of 19.
The timeline to get to that point was astounding. In 18 months after recreational cannabis legalization, marijuana went from illegal to “essential service,” with pot shops remaining open during the pandemic, not only helping save Canadian jobs and agriculture, but also supporting commercial real estate when shuttered storefronts dominated main streets across the country.founder Bruce Linton, who secured $5-billion in funding from Constellation Brands, told me.
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