Canadian marijuana companies opening wallets to tap California market
A handful of Canadian marijuana companies are already knee-deep in California, deploying millions of dollars in cultivation facilities, retail outlets and branded products to establish a footprint in the world’s largest marijuana market.
Executives at the companies – whose shares trade on the Canadian Securities Exchange (CSE) – said they hope to capitalize on:
- Access to Canada’s deep capital market.
- Rules that keep larger competitors listed on the Toronto Stock Exchange and the TSX Venture Exchange from doing business in the U.S. cannabis industry.
- Their own experience in doing business in a tightly regulated market such as Canada’s.
CannaRoyalty is among those with an aggressive California strategy. Almost all the Ottawa company’s new capital is earmarked for the Golden State.
“California is the market. You get it right there, you have the key to all other markets,” said Marc Lustig, CEO of CannaRoyalty, which invests in Canada and U.S.-based cannabis companies.