Expect the same to happen in the big chaotic country to Canada’s south when Federal eventually staggers through the cat flap.
The historic policy shift remains Trudeau’s most significant feat, but the onerous excise tax has marred the journey to sunny days
They had travelled from across the country to attend the two-day, invite-only event, with tickets going for $1,800. Now in its third iteration, the room was humming a much different tune than it was in 2021, its inaugural year.
In 2023, just a few years removed from the pump-and-dump stock heights that saw some of the largest publicly traded companies’ valuations plummet by 99 per cent, the conversation is still centred around cash, but now it’s about how to find and preserve it.
“It’s very, very tough out there to raise capital right now,” said Darwin Fletcher, the event’s founder. “I think that’s one of the biggest challenges that people are facing.”
But it’s far from the only one. A half-decade into legalization — Prime Minister Justin Trudeau declared cannabis was legal as of Oct. 17, 2018 — the industry stands at an inflection point. On one hand, it has made substantial economic contributions — the sector’s GDP contributions are on par with the dairy industry — and it has carved out a global footprint, particularly in the growing medical cannabis export market.
On the other, it is grappling with financial strains, the need for clearer advocacy and education, and a regulatory framework that has been stuck in a state of inertia for years.
Read full op ed
https://nationalpost.com/news/canada/cannabis-excise-tax-milking-the-industry
Sean Hocking
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