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Marijuana Legalization in Canada Has Companies Chasing a Green Rush

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SMITHS FALLS, Ontario — Millions of dollars worth of marijuana plants sat under lamps brighter than the noonday sun as employees of Canada’s largest cannabis business bustled about the 47 giant growing rooms of its factory, which once made Hershey bars.

Now it’s home to Tweed, whose parent company, Canopy Growth, was the first Canadian marijuana grower to debut on the New York Stock Exchange since legalization.

Valued at more than $10 billion, Canopy is worth even more than Bombardier, the Canadian manufacturer that is one of the world’s largest makers of planes and trains, offering a stark example of this nation’s new get-rich-quick hope — the marijuana industry.

On Oct. 17, Canada is set to become only the second country in the world and the first major economy to legalize marijuana for all uses. Companies are clamoring to join in what some are calling a green rush.

The government requires that marijuana be sold in plain packages that feature large health warnings and tiny logos. Advertising is limited to what Health Canada, the federal department that regulates cannabis, calls “information-type promotion” and “brand-preference promotion” all of which must be kept away from the eyes of children.

No ads are supposed to appear until Oct. 17, but several companies have jumped the gun and run advertisements that bend — or possibly break — the upcoming rules.

Continue reading the full article here.

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