The legalization of cannabis in Canada is expected on July 1, 2018. How consistent is your company with the laws of Canada now? Will not you have problems?
Yes the legalization is expected to be on July 1st, but there has been talk of the liberal government to postpone that date until later in the summer of 2018. Our Roadmap may change in accordance with the postponing of this date. As it stands now, cannabis is still considered a Schedule II drug under the "Controlled Drug and Substances Act" of 1996. This means that we cannot sell, nor fund, growing operations
yet.
What we are doing now is in anticipation of its legalization, so that when the law regarding cannabis changes to allow private and commercial growth operations and dispensaries, we will be ready to begin funding upstart projects through our platform right away. Another factor to consider is that the laws will be different between provinces for private retailers.
Take Saskatchewan for example. As of the beginning of this year, they have already issued 60 cannabis retail permits. Provincial laws allow them to do this, but the federal law does not, and therefore it is considered a "gray zone", something that we do not wish to operate under. We will wait until the federal government is ready to change the law regarding cannabis so that we can operate freely and within the legal boundaries that they set for projects such as ours.
I hope this answers your question!
