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Home 🌿 Marijuana Business News 🌿 Canadian medical marijuana producers have international aspirations 🌿Canadian medical marijuana producers have international aspirations
TORONTO - As Canada's burgeoning medical marijuana industry ignites, a number of local pot producers are looking to take their homegrown expertise abroad.
"With the cannabis market across the world expanding and opening up, that's presenting opportunities for Canadian producers," says Neil Closner, the chief executive of Toronto-based MedReleaf Corp.
Analysts say Health Canada's strict quality controls make exporting plants grown in Canada to other jurisdictions a cost-prohibitive proposition. Instead, Canadian producers are looking to take what they have learned at home and set up new corporate entities in other countries.
"The strict regulatory environment has, in effect, made producers jump through hoops and pass some pretty high barriers in order to be compliant, and there are lots of lessons they've learned along the way," says Daniel Pearlstein, a life sciences analyst with M Partners.
MedReleaf, which has partnered with a U.S. company called Compassionate Care Center of New York,...
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