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Could Canada Experience a Cannabis Shortage?

Ryan Allway

February 25th, 2014

Policy, Top News

Canada’s new Marihuana for Medical Purposes Regulations (“MMPR”) will require all medical marijuana to be purchased from federally approved suppliers starting in April. Despite the impending deadline, the government has only licensed five producers to grow and sell cannabis to an estimated 38,000 patients consuming 190,000 kilograms of the substance.

Under existing regulations dating back to 2001, dispensaries and patients are able to grow their own marijuana. The new regulations will require these patients to destroy their product and begin purchasing cannabis online for as much as seven times the price. Patients are growing increasingly concerned that the government’s strict criteria will lead to a shortage.

The new MMPR regulations have attracted some 400 applications, but most do not have the financial backing needed to meet the government’s strict criteria for approval. While consumers argue that the “corporatization” of cannabis is a bad thing, the government’s view is that large corporations have more accountability and pristine operations than small firms.

In the end, Canada’s medical marijuana consumers may experience some higher costs initially, but opening up the market to large corporations should significantly lower costs over the long-term. In the meantime, investors have the opportunity to get involved in larger publicly traded companies pursuing licenses, like Abattis Bioceuticals Corp. (OTC: ATTBF) and Creative Edge Nutrition (OTC: FITX).

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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