(This is the first in an occasional series on profits, losses and the burgeoning Canadian cannabis industry.)
The most profitable cannabis businesses in Canada are owned by various levels of government, according to MJBizDaily research.
At the same time, cumulative private-sector losses easily exceed 16 billion Canadian dollars ($12.5 billion), led mostly by big producers such as Smiths Falls, Ontario-based Canopy Growth Corp., Edmonton, Alberta’s Aurora Cannabis and Tilray Brands, which has its executive offices in New York City.
The largest companies are yet to become profitable, even though:
Investors poured billions of dollars into the industry before and after legalization in 2018. The federal government shields Canadian producers against foreign competition in the medical cannabis market. Canada’s federal government showered the same corporations with hundreds of millions of dollars in federal grants – money that does not have to be repaid – lobbying records reviewed by
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