NetworkNewsWire Editorial Coverage: The medical cannabis business is booming in Canada, projected to ramp up and exceed $8 billion within seven years. The growth trajectory shows no signs of slowing yet pales in comparison to the global opportunity. A recent analysis by Eight Capital, a Toronto-based investment bank, targets the potential Canadian international medical cannabis market at a staggering $142 billion over the next 15 years (http://nnw.fm/aFP0h). Licensed producers in good standing are best positioned to reap immense rewards from this generational growth opportunity. Of these, ABcann Global Corp. (TSX.V: ABCN) (OTCQB: ABCCF) (ABcann Profile), among Canada’s first licensed producers, is already considered one of its premiere growers. Others vying for position include OrganiGram Holdings, Inc. (OGRMF), Supreme Pharmaceuticals, Inc. (SPRWF), Maricann Group, Inc. (MRRCF) and iAnthus Capital Holdings, Inc. (ITHUF).
With strict laws enacted in 2016, Health Canada now oversees the licensing process, monitoring and compliance of commercial medical cannabis producers. Licenses are difficult to acquire and frequent inspections hold producers to stringent standards. Health Canada now conducts thorough reviews of applications to ensure compliance with regulations and closely monitors licensed producers to ensure compliance with such strictures as personnel security measures, good production practices, packaging, shipping, record keeping, and importantly, import and export requirements. Global demand, especially in Germany, is growing at an “insane” rate.
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