skip to Main Content
Global Pot Entrepreneurs Lured by Canada
  • Nation continues to attract pot investment from abroad
  • Business owners still like its access to capital and markets

Cannabis companies with their sights on an expanding global market are still finding it makes financial sense to keep Canada as their home base.

CannaPharma Inc., for example, whose founders’ native Turkey strictly limits marijuana use, is growing through acquisitions and ventures in the U.S., Jamaica, Portugal and Abu Dhabi. But even though it plans to sell extracts around the world, it’s keeping its headquarters in Canada, where the company was founded in 2019.

That’s because the nation’s early legalization of cannabis has resulted in financial support that’s not available anywhere else, said Okan Altug, CannaPharma’s co-founder, a former investment banker in Istanbul. In addition to access to financial services, cannabis-related companies can list on Canada’s exchanges, and it’s easier for them to raise funds. That’s just not possible in the U.S., where cannabis is still illegal on the federal level.

All in all, no other country offers the same package to fuel CannaPharma’s aspirations. In one year, CannaPharma has reached a valuation of $37 million and attracted venture capital funds and individual investors from the Netherlands and Turkey, Altug said. [Read More @ Bloomberg]

This Post Has 0 Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Stories

Marijuana may make sleep worse, especially for regular users, study finds

It’s a common assumption among marijuana users: Using weed will help you fall asleep and stay asleep. Scientists, however, aren’t so sure that’s true. “This is an understudied but important area, as many people are increasingly turning to cannabis products as sleep aids,” said sleep specialist Wendy Troxel, a senior behavioral scientist at RAND Corporation, who was not…

What’s In a Number? Why You Should Be Thinking About Your ‘Perfect Order Index’

As the cannabis industry matures, executives have increasingly more access to data to analyze around how efficiently and how accurately they are fulfilling their customers’ demands. It’s paramount to success. Fail to honor your promise to your customer, and they will go elsewhere in the market. Competition is fierce. Fortunately supply chain experts have developed…

Master Grower or Master Electrician? Why Keeping Trades Separate Makes Good Business Sense

The tendency for many cultivation start-ups—especially those new to horticulture—is for the head grower to wear many hats. Although it’s tempting to have your team’s cultivation expert advise on everything under the sun, few are qualified to do so. Your master grower is not your master electrician. Unless your grower has an engineering degree, leave…

Lessons in Cannabis Sales & Distribution from 20 Years in the Game, Part 1

Jared Kesselman is a Los Angeles native who has earned his living professionally in the cannabis industry since 2000. In 2021, he wrote the critically acclaimed book “The Business of Cannabis: A Blueprint to a High Income.” He has been on the front lines as a sales rep visiting ten or more dispensaries each day…

More Categories

Back To Top
×Close search