Legalized Cannabis Sales Could Be in the Billions — If Retail Can Smoke Out The Black Market

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.

– Read the entire article at News.