Epic News From Our Neighbor to the North
This post Epic News From Our Neighbor to the North appeared first on Daily Reckoning.
The ink’s barely dry on a cannabis deal of epic proportions.
Three of the world’s leading marijuana companies have decided to pool their resources in a huge joint venture.
The deal struck between Canada’s Canopy Growth, Holland’s Green House Brands and the U.S.’ own Organa Brands marks the first time in history a legal weed cartel will exist.
Amazing how times can change so quickly, isn’t it?
Under this new joint venture, Canopy Growth will give minority ownership stakes in its medical marijuana subsidiary, Agripharm, to Amsterdam’s Green House Brands and Denver-based Organa Brands.
In exchange for the stakes in Agripharm, Green House and Organa Brands will each give Canopy exclusive royalty-free rights to their trademarks, genetics and other intellectual properties.
The venture will kick off in Canada first, as that’s where the Agripharm subsidiary is based. But expansion into the U.S. and Holland will follow shortly.
Commenting on the partnership, Chris Driessen, president and owner of Organa Brands, had this to say: “The sky’s the limit when you have three of the most influential cannabis brands in the world unifying to start the process of global expansion.”
I couldn’t agree more.
Ramifications Be Damned
In case you missed the recent report from Ray Blanco last month, let me quickly recap.
The Toronto Stock Exchange (TSX) and TSX Venture Exchange plan to contact all pot companies listed with them to determine whether they run afoul of U.S. federal law.
That means Canadian companies with any exposure to U.S. pot markets could potentially be in violation of their TSX listing obligations. Even if they’re compliant with state laws.
But what do the Canadian pot companies think of all this?
Apparently, they couldn’t care less.
Before news broke regarding the new joint venture, many major Canadian pot firms had already put out press releases patting regulators on the back for the decision.
Now we have a trilateral agreement for cooperation between U.S., Dutch and Canadian pot companies.
Clearly, the threat of delisting or even potential legal battles doesn’t scare these companies or their shareholders.
Head Due North for Riches
Canadian marijuana companies are having a HUGE November.
Since Oct. 30, the Canadian pot index made up of 18 of Canada’s largest pot companies is up almost 60% for the month. Check out the chart for November:
Most of the late-year gains stem directly from anticipation of July 2018. That’s when the Canadian government expects its plan to legalize recreational pot will go into effect.
Where there’s a will, there’s a way. Where there’s a demand, there will be weed.
As a result, companies with stakes in developing recreational cannabis are seeing their share values soar.
Impressive estimates on the cash value of Canadian recreational pot markets are also fueling this late-year run.
Reports estimate that Canada could quickly become a multibillion-dollar pot industry within a few years. According to Deloitte, pot legalization could generate up to $22.6 billion annually for the industry.
This would total more than the annual amount spent on alcohol.
Canadians might like their beer, but they love their pot.
That’s how you could make a killing in the Great White North.
By banking huge profits off their booming cannabis market.
For Tomorrow’s Trends Today,
Sean McCloskey
for The Daily Reckoning
The post Epic News From Our Neighbor to the North appeared first on Daily Reckoning.
This story originally appeared in the Daily Reckoning
Source: https://dailyreckoning.com/epic-news-neighbors-north/
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