Wednesday, February 26, 2014 9:14:11 AM
“1.3 million pounds equates to about $5 billion a year — you’re looking at $8 gram — at 80-87% profit,” CEO Bill Chaaban told Business Insider.
Canada changed its medical marijuana model into something called “super growers” where companies grow pot under strict pharmaceutical regulation and sell it directly to consumers. There will be no dispensaries. As of April 1, people will no longer be allowed to grow their own pot, reports the Vancouver Sun.
This plan works in part because, Creative Edge, the parent company, is located physically close to Canada in Madison Heights, Mich., a suburb of Detroit. The site for the Canadian facility is in Lakeshore, Ontario, right across the border from Detroit.
CEN Biotech says it could even be possible to sell its pot internationally, to 29 countries that have pharmaceutical trade agreements with Canada and view marijuana as a legal narcotic. Israel is one of the biggest of those markets.
Obviously, the legal marijuana industry is young and full of risk. But here’s a look into the reason why this CEO is eager to take on that risk.
http://www.marketnewscall.com/creative-edge-nutrition-inc-otcmktsfitx-looks-solid-in-the-marijuana-industry/1219980/
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