With new marijuana laws put into place here in the United States, it’s interesting to see how other countries are tagging along. For example, one of those countries is Canada, and Canada’s recreational marijuana laws just changed. This provides new opportunities for growth. Let’s see how Canadian marijuana laws are making some men rich.
New Canadian Marijuana Laws
Terry Booth sold marijuana in high school, selling quarter ounces for about $25 each. Naturally, he didn’t think this would blossom into a lucrative career. Instead, he spent the next two decades as an electrician and entrepreneur.
When his retirement plan didn’t work out, a friend of his had a brother-in-law looking for investors. The investment plan: the forging path of recreational marijuana in Canada. However, it won’t be legal until later this year.
July 1st, to be exact.
In the meantime, Terry’s new business partner Steve is working on a marijuana greenhouse about the size of 14 football fields.
Aurora Cannabis, Inc.
The company taking advantage of the soon to change Canadian marijuana laws is Aurora Cannabis, Canada’s second-largest marijuana firm. Their stakes are approaching $200 million because Canada’s marijuana industry is ballooning majorly since official legalization was announced—to $25 billion, to be exact. That makes them one of the wealthiest companies in the growing industry.
Canada’s marijuana industry will reach $7 billion in sales the first year, investors predict. Compare that to America’s $75 billion reaches next year, and we’re looking at an industry that has grown immensely. Nearly to the size of the soft drink industry.
That’s incredible, considering it’s still in its infancy.
Marijuana millionaires riding the wave
The moment that legalization was announced, opportunistic investors leaped at the chance to get their hands on some of that marijuana money during Canada’s legalization wave. These Canadian investors are expected to be Canada’s first examples of marijuana millionaires.
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