When I coined the term Ecoforming to describe events that dramatically alter the landscape of the industry while simultaneously referring to the industry from the investor’s perspective as a vibrant ecosystem I had no idea not only how right that analogy was but also how this perspective would become a “given”. Just as some thought that we were now entering a period of stability, Health Canada, on May 8th, changed the environment:
The following is opinion only to encourage and facilitate discussion and even debate with a goal of raising awareness and learning. No advice or recommendations are being given or inferred of any kind.
The Paradigm Shift Also Means
Quality Safeguards
for the Prepared Retail Investor
Effective immediately, Health Canada will require new applicants for licences to cultivate cannabis, process cannabis, or sell cannabis for medical purposes to have a fully built site that meets all the requirements of the Cannabis Regulations at the time of their application, as well as satisfying other application criteria.
With respect to existing applications, Health Canada will complete a high-level review of applications currently in the queue. If the application passes this review, the Department will provide a status update letter to the applicant, indicating that it has no concerns with what is proposed in the application. Once the applicant has a completed site that meets the regulatory requirements, the Department will review the application in detail, in priority based on the original application date.
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