Tormont Group CEO Patrick Wood on BNN
Wood said that companies operating in the U.S. states where cannabis is legal will benefit from the head start they’ve had over Canada’s pot players, having had the opportunity for their businesses to mature beyond just production.
“In the U.S., they’re a much more mature market than us – Colorado and Washington were legal way before Canada even had a listed company – so, branding, distribution, all these key things that are missing in the Canadian market space have really been formulated and perfected there,” Wood said.
Wood said that despite the current legal restrictions and concerns investing in the U.S. marijuana space, Canadian investors should take advantage of the opportunity to get involved the American market.
“These are more mature markets down there and they really are focused on really hitting those top and, more importantly, those bottom line numbers now,” he said.