Canadian Cannabis Insight on how it works. New to the board. No need for welcomes I getting directly a few points on how the business of selling Cannabis works in Canada.
1. A MJ crop takes around 8-12 weeks to grows
2. Once a crop is done the company has to send some samples to Health Canada for aprroval. I'm not sure how long the approval can take, but I heard up to 3 months.
3. Once the companies cannabis hasn bee aprroved then they have to get aproval form the provincial governing board on alcohol and the new regulated cannabis. How long that takes I don't know.
--Now you're starting to see who the long the process is taking and why there is a shortage of demand in some cases of MJ at dispensaries. The process is tedious and along with the growth of the MJ crops.
4. I am a Uber Driver, and by chance had the opportunity to talk to a lady in my car who works for Nova Cannabis. She told me to get the MJ to sell ONE has to PAY upfront for the MJ. So if a dispensary needs product they have to pay CASH first. to get the product.Example: Lets say a dispensary is operating and they want to sell some MJ in Canada. You'd have to dish out 40,000 in cash, and then bring the product into your store. This is only an example. The lady in my car said one should have about $250,000 cash at hand, since the product sells out fast, But don't quote me on that, that's what she told me.
5. The lady also told me that Nova Cannabis is going to open another 40 stores with next 6 months or so throughout Canada. Nova Cananbis is affilated with ALCANNA
So hopefully this will give you some insight on how and why MJ take so long to get going with newer companies and process they have to go through. MJ doesn't grow in a day,
-This is just a few points to ponder there are probably a lot more to get a business going.
-I have some money invested in LGC. not alot but for me it's alot. The one thing about LGC and the CEO, never ever make comments about Cancer Patients about dying happy after smoking MJ. This was quoted in a Youtube Video. I had my doubts about putting money into the company when I heard that. This is bad for PR and Investing relationships.