Doom or Gloom for Cannabis? Why 2017 Can be the Opportunity of a Lifetime
Will Canadian cannabis stocks remain under pressure following the release of information related to product recalls or will this weakness provide investors with the best buying opportunity of 2017?
Late last week, The Globe and Mail published an article on the discovery of Myclobutanil, a controversial pesticide found in in products sold by Mettrum Ltd. (MT.V), a federally licensed medical cannabis producer.
What is Myclobutanil?
Myclobutanil is a chemical that is prohibited for use on legal cannabis in Colorado, Washington and Oregon because of health concerns. The pesticide is known to emit hydrogen cyanide when heated.
This development follows Mettrum’s voluntary recall on November 1st after pyrethrin, a pesticide not approved for medical cannabis, was found in its products. Following this discovery, Mettrum said that its use was a mistake because it was not listed as an ingredient in a spray used by the company.
When Health Canada decided...
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