NetworkNewsWire Editorial Coverage: Recreational cannabis will soon be legal in Canada for adults, but selling and buying the pungent herb won’t be as simple as some presume it will be. Regulations governing the cultivation, production, packaging and sale of cannabis are still being refined as Canadian lawmakers at different levels of government tackle unique differences between provinces and local jurisdictions. One thing is certain, however: a cannabis retail explosion is coming, and cannabis companies ready for the surge will reap the benefits when Canada’s recreational marketplace officially opens for business. Cannabis retail brand Choom™ Holdings, Inc. (CSE: CHOO) (OTCQB: CHOOF) (CHOOF Profile) is preparing to meet the demands of this market with a strategic blend of product and consumer experience, while Hiku Brands Company. Ltd. (CSE: HIKU) (OTC: DJACF) (DJACF Profile) steadies itself as a lifestyle cannabis brand. Canada’s top cultivators, Canopy Growth Corporation (TSX: WEED) (OTC: TWMJF); Aurora Cannabis, Inc. (TSX: ACB) (OTCQX: ACBFF); and ABcann Global (TSX-V: ABCN) (OTCQB: ABCCF) (ABCCF Profile) are also exploring getting in the game.
Economic Boost
Close to 5 million Canadians aged 15 to 64 spent an estimated $5.7 billion on cannabis in 2017, according to a Cannabis Economic Account issued by Statistics Canada (http://nnw.fm/m1AnR). That’s nearly $1,200 per cannabis consumer, although the report does caution that the data is an estimate. Canada’s foray into legalized recreation cannabis will bring more…
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