“U.S. money is going north, U.S. companies are going north, and Canadian investors are benefiting,” Saphira Galoob, a cannabis industry lobbyist with The Liaison Group, told Yahoo Finance.
Canada’s legalization of recreational marijuana in 2018, the first among G7 members, poses an increasing threat to non-institutional, American investors who are precluded from current growth opportunities in U.S. cannabis markets, according to Galoob.
“This bill is going to help individuals who are not otherwise able to access the cannabis industry, because they don’t have access to private equity, and generational wealth,” she said. “[Canada’s] first-mover advantage is undermining an opportunity that we will not be able to reclaim if we do not address it quickly.”
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