Wednesday (October 17) marked the start of a new era in Canada after recreational cannabis became legal. Canadians waited for this day, but not as eagerly as Canopy Growth, one of the leading cannabis companies in the country.
The President and co-CEO of the firm, Mark Zekulin, said that they pulled all the stops, including using every kind of transportation available in Canada (except dog sleds) to ensure that cannabis supplies were distributed to all the retailers who had placed orders from around the country.
Zekulin added that the company had been preparing for legalization day for years. That statement cannot be conceived as bragging since the company has been operating for years when only medicinal marijuana was legal in Canada.
Those long years of preparation were also revealed when the co-CEO said that the manufacturing plant of the company also has an edibles division even if cannabis edibles are not yet legal in Canada. It is believed that edibles will be legalized after about a year from the date when recreational cannabis hit the retail stores.
The information above was shared as the co-CEO and the VP for Communications took a team from Cheddar TV Network around their Ontario-based manufacturing facility.
The cannabis facility is housed in a building that used to host a Hershey’s chocolate factory in the past. To honor that heritage, Canopy Growth plans to make chocolates with a twist; chocolate infused with marijuana.
Canopy Growth employs more than 800 people at its Ontario headquarters, and those hundreds of employees must have had long shifts scrambling to make October 17 a success despite the logistical challenges of moving so much cannabis within such a short time.
The “vault” at the manufacturing plant had about half a billion dollars’ worth of marijuana and marijuana products at the time the Cheddar Network team toured the facility. That stockpile is only expected to sit on the shelves for a few days before it is all distributed to retailers and medical cannabis dispensaries throughout Canada.
Analysts estimate that the demand for marijuana is likely to hit more than 610 tons yet the existing suppliers can only avail 210 tons of marijuana. It is no wonder that Canopy Growth had to send out an all-hands-on-deck call to its employees in order to hit the ground running on day one of legal recreational cannabis.
American marijuana companies like Marijuana Company of America (OTC: MCOA) and Medical Cannabis Payment Solutions (OTC: REFG) can only watch from a distance hoping that it won’t be long before marijuana becomes legal at the federal level in the homeland.
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