Time is right for marijuana entrepreneurs to enter the global market

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By Omar Sacirbey (This is an abridged version of a package that appears in the May-June issue of Marijuana Business Magazine.) North American marijuana entrepreneurs who believe it’s too early to look at international opportunities should reconsider their position. Federally licensed cultivation companies in Canada – Canopy Growth, Tilray, Aurora Cannabis and Cronos Group, to name a few – already are exporting marijuana products or have set up production deals in Europe, South America, Asia and Africa, as well as Australia and New Zealand. The Canadian companies’ global expansion is aided, of course, by the plant’s acceptance on a federal level in a nation where government regulators have granted export licenses to MJ firms while governments in the importing countries have reciprocated. A prime example is Seattle-based Privateer Holdings, which has business interests on five continents. The math explains why more and more cannabis companies are turning a watchful eye overseas: “The opportunities are tremendous: 640 million people in Latin America, more than 500 million in the (European Union),” said Guillermo Delmonte, president of the international division of Organigram, a licensed cultivator based in New Brunswick, Canada. Time is right for marijuana entrepreneurs to enter the global market

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