Created on 2/8/2019 4:46:36 PM
With Canada due to legalize cannabis edibles on Oct. 17, 2019, interest and enthusiasm is high among food, beverage and CPG executives eager to grab a slice of the multimillion dollar market. Three Canadians in ten said they are interested in trying edibles when they’re available, as a share of the adult population, that works out to 8.7-million people.
That enthusiasm took center stage at FCPC’s first ever cannabis event on January 31st where more than 130 industry executives seized the opportunity to engage with experts on a wide range of regulatory, social and business development issues. Each session within the event drew a considerable amount of questions and comments as participants look to adapt and position their businesses for success in the fall.
“There is no denying that the edibles market represents an exceptional business opportunity,” explained Chandimal Nicholas, Counsel at Cassels, Brock & Blackwell LLP. “However that opportunity arrives this October with a variety of legal hurdles facing manufacturers; cool is off the table,” said Nicholas when asked about marketing restrictions. “We thought [cannabis] would be treated like alcohol, instead it is being treated like tobacco.” Nicholas recommended manufacturers source professional guidance about the unique challenges in Canada; companies need to understand the rules and the risks associated with stepping outside those rules.