James Munro warns cannabis investors to recognize the difference between companies with “solid business fundamentals,” and players just riding the hype wave

James Munro warns cannabis investors to recognize the difference between companies with “solid business fundamentals,” and players just riding the hype wave

Earlier this week, the Senate passed groundbreaking enabling legislation, Bill C-45, setting the clock ticking for the Oct. 17 start of legal cannabis sales, but even with the law in place, many questions remain.

Ahead of the 2018 International Cannabis Business Conference in Vancouver this week, McMillan’s James Munro, a partner in the firm’s Vancouver office, who will be appearing on a panel at the conference, spoke with the Vancouver Sun about some of the potential takeaways.

“Like any industry, there will be winners and there’s going to be losers,” Munro said, and his message of caution will be for investors to recognize the difference between companies with “solid business fundamentals,” and the players that are just riding the wave of hype that surrounds the industry.

However, Munro argued that the focus of Canada’s legislation that puts product safety “first and foremost,” should give Canadian producers leverage.

“(Recreational cannabis) is a new industry and Canada, without question, has an opportunity to be known as a leader in product quality,” Munro said.

To read the Vancouver Sun article in full click here.