Canadians spent an estimated $5.7 billion on marijuana in 2017.
Canadians spent an estimated $5.7 billion on cannabis last year according to Statistics Canada, but that’s not a guarantee those sales will translate into billions-of-dollars for the legal market, at least not immediately.
That’s because over 90 per cent of those sales were in the black market — or, as Statistics Canada describes it, in non-medical consumption.
“It’s certainly going to take a while to disrupt that black market,” said Tyler Stuart, managing director of Green Acre Capital, a private equity firm focused exclusively on cannabis, from his home in Calgary.
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