As big weed grows in Canada, it’s increasingly looking to take over the world.
Canadian mary jane is showing up in Germany, Australia, Chile, and a raft of other countries worldwide who have given the green light to medical marijuana. At the rate things are going, Canadian weed will soon be unavoidable.
Canada’s medical marijuana system dates back to 2001, but the system devised by Ottawa was mostly geared towards small-scale cultivation by individuals. It wasn’t until 2014 that the federal government set up a regulation system to allow companies to start growing and selling the drug.
Two of the big licensed producers out of the gate were Tilray and Tweed.
Tweed grew out of a former Herhsey’s Chocolate factory in rural Ontario to become one of the largest marijuana companies in the world. It was the first pot company to openly trade on the Toronto Stock Exchange (its ticker symbol is WEED) and has a market cap of over $2 billion.
In June, Tweed’s parent company acquired Spektrum Cannabis, a German company that distributes medical marijuana to some 400 pharmacies across the country. Beyond Germany, Tweed is now exporting to Australia and Brazil as well. As of August, the company had sold some 69,000 grams of weed world-wide. That number might be low, but the company expects its about to grow exponentially. (As of the end of June, 2014, Canada had less than 8,000 medical marijuana patients. As of this past June, it had more than 200,000.)
“With cannabis continuing to emerge from the shadows, many countries are looking to Canada,” reports security filings from Canopy Growth, which owns Tweed.
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