October 17, 2018. Two years since recreational cannabis was legalized in Canada. And the country is now filled to the brim with weed.
Licensed producers (LP’s) have hundreds of thousands of kilograms jammed in vaults, while provincial distributors and regulators are stocking up on packaged products.
As the country looks back on the past two years of legalization, it's clear that Canada has a serious cannabis supply problem – one that has weighed on producers, big and small alike. The aftermath is LPs having to write down and destroy billions of dollars in inventory and assets.
Today, there are now roughly 500 producers Health Canada has licensed to grow cannabis legally, with about 60 of them selling to the recreational market. Meanwhile, more than 1,200 cannabis shops are open across Canada, with Ontario – the country's most populous province, opening 40 new stores each month.
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