Legalized cannabis markets are taking off throughout Canada and the United States. They are already importing it from Africa. According to Bloomberg, Ben Kolver, the heir to Jim Beam, has recently purchased enough shares of Green Thumb Industries to be a majority owner. He is following a handful of other companies investing in producers in Canada.
While cannabis is still federally illegal, it’s hard for a company to be publically traded. However, Canada, provides a loophole for that rule. Marijuana is expected to be federally legalized in Canada within the year. Because of this, investors are turning to Canada as to generate capital before federal legalization hits the United States.
Currently, Green Thumb Industries operates 12 dispensaries in five different states. With over 100 products on the shelves, their income topped $20 million last year and is expected to increase as they expand. At the end of the first prohibition, one of Kolver’s ancestors invested in a handful of distillers led by Jim Beam. It makes sense that they would invest in cannabis on the verge of it being federally legal as well.