Lift&Co ran a business conference on cannabis in Toronto the week of May 21. Here are the top 10 takeaways for me. Some of it may be obvious to the more informed, but I am glad to get the handholding. There were a lot of informed attendees only too glad to share their knowledge. [For a review of the panels, read the conference synopsis here]
Top 10 takeaways on Cannabis and the state of the business in Canada
10) Doctors cannot prescribe cannabis in Canada. It does not have a DIN. So the public healthcare coverage does not cover cannabis. A special medical document is needed for medicinal marijuana to be prescribed.
9) Canada and Netherlands are the most sizable legit producers of medical marijuana. US has a solid growing program but is hamstrung by geofencing.
8) THC and CBD are just two of many cannabinoids. The former is psychoactive, the latter is non-psychoactive. As early as 2019 we should see CBD infused oils on grocery shelves.
7) “Pineapple express” the herb preceded the eponymous movie. Gratuitous video clip below
6) Only medicinal marijuana can cross borders (legally).
5) High CBG strains of crop are the golden chalice, the holy grail, the mother lode (you get the drift)…
4) There are retail stores in Toronto where recreational marijuana stores are still plying. This was a surprise to me. Two stores near our office were raided and shut down by the TPS. The budtender told me the key is to have solid community relations. If no one complains and you respect the community, you can run the business.
3) A lot of the money flowing into Cannabis stock is coming from the US speculators. There is the belief that the US will not be catching up anytime soon.
2) Marketing for Cannabis products is simple, as a fellow attendee (ex-Microsoft, now into weed) shared with me: “How do you want to feel” for recreational, vs “what is the symptom you want to alleviate” for medicinal.
1) Infernotions Technologies Ltd’s first attendance went well. Our solution helps LP’s scale operations manifold without compromising quality or yield. I came back with enough business leads to take us through the next 5 years and some…
I have to say, this was one of the most chill crowds I engaged with.
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