Cannabis stocks in Canada are poised to surge with the recent announcement that adult use of marijuana will be legal in that country starting in October, which will encourage more investments this budding sector.
Recreational use of cannabis has been legalized in Canada with sales starting on Oct. 17, which will be met with enthusiasm from not only the public, but also investors and marijuana companies.
Investments in both public and private companies are expected to multiply as one company recently went public and the country’s more favorable regulations allow U.S. companies to list on their exchanges.
“It’s a really exciting time as an investor,” says Jason Spatafora, co-founder of Marijuanastocks.com and a Miami-based trader and investor. “Weed is to Canada what Silicon Valley is to the U.S. We will see a lot more money flowing in.”
The marijuana market in Canada is growing rapidly each year as more companies become public. The Green Organic Dutchman, an organic cannabis producer, began trading in May on the Toronto Stock Exchange under the ticker…
TGOD and raised 132.26 million Canadian dollars ($101 million) from its IPO.
“We are a pretty unique company and the leader in the western world since America has not approved cannabis federally,” says Rob Anderson, the company’s former CEO. “Our government embraces us and we are seeing a boom in entrepreneurism in this industry.”
The Green Organic Dutchman began construction of four facilities with a total capacity of 195,000 kilograms in Canada, Europe and the Caribbean. The grower also plans to build a…
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