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CC: Right now our focus is on the recreational market domestically. In keeping with our vision of being made for Albertans, by Albertans, we would like to ensure that our product is reaching consumers at home and that we are contributing to the development of the industry in Canada. Having said that, there is massive opportunity internationally. Some estimate that the global cannabis market will be worth $130 billion US by 2020. Once the Company has established itself as a top competitor in the domestic cannabis space, we will absolutely be turning our attention to build on international opportunities.
CIM: You have another eight acres of approved land which gives you the ability to expand to 264,000 sq-ft. and increase future cash flows. Could you give us your outlook on market demand versus supply?
CC: The cannabis industry has been constantly evolving since legalization last October 2018. Some sources state that $1.4 billion in legal cannabis was sold in Canada in the fourth quarter of last year and that there still is not enough supply to meet the demand. In Alberta, the province’s 265 licensed retailers are continuing to have difficulty maintaining appropriate levels of stock due to high demand, and this is just demand for products that are legal under current legislation. We believe that the expected upcoming legalization of edibles and topicals will see not only an increase in demand from existing customers, but an entirely new customer base that has yet to enter into the existing market. Given our expansion capabilities and this outlook, we feel CanadaBis is well poised to continue scaling up and continue contributing to the increased product demand.
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