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    U.S. poses biggest threat to Canada's booming cannabis industry

    Jeff Lagerquist
    Yahoo Finance CanadaJune 28, 2019
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    Greg Engel, chief executive officer of Organigram. (Provided)
    Greg Engel, chief executive officer of Organigram. (Provided)

    The chief executive of one of Canada’s cannabis producers hopes the country’s largest business association will help the industry confront its number one threat - competition from the United States.

    Greg Engel, CEO of Organigram (OGI), said the scale of the cannabis business in Canada is unmatched globally thanks to its first-mover advantage among G7 nations on federal legalization. He wants the new National Cannabis Working Group to push Ottawa to safeguard that lead.

    “Canada is uniquely positioned from a leadership perspective,” Engel told Yahoo Finance Canada. “We’re doing things at a scale and scope that no one else is doing.”

    The Canadian Chamber of Commerce said on Tuesday that the new working group will advocate for public policies to help the industry realize its full economic potential. Organigram is among the founding members, which also include fellow licensed producers Canopy Growth Corp. (WEED.TO) and HEXO Corp. (HEXO.TO), as well as Deloitte Canada and the law firm Dentons Canada LLP.

    Investor interest in high-flying pot stocks has allowed Canadian firms to spread their footprints internationally, and build massive grow facilities with global demand in mind. Meanwhile, U.S. federal law limits the reach of cannabis companies and forces production to operate at state-level scale.

    The growing number of states legalizing cannabis, and anticipation for reform at the federal level, is increasingly shifting investor focus to the U.S. while encouraging Canadian producers to develop resources stateside.

    Engel said while it is difficult to predict how Washington’s position on cannabis will evolve as the drug is more widely accepted, the Canadian Chamber of Commerce should prepare for the landscape to change.

    “What I really do see as a threat to the Canadian industry is changes in the U.S. from a regulatory framework perspective,” he said. “We’ve got an opportunity to build on the advantage we have in the near-term.”

    Illinois became the eleventh U.S. state to legalize recreational use on Tuesday. Cannabis-related bills were considered in 25 state legislatures this year, including in New York and New Jersey, according to advocacy group Marijuana Policy Project.

    In the U.S., cannabis remains illegal at the federal level. The drug is classified as a Schedule 1 substance with no medical value and a high potential for misuse.

    Engel said the new National Cannabis Working Group is still determining its priorities. He hopes the group, which spans the financial, legal, construction and transportation sectors, will eventually guide policies that advance Canada’s cannabis interests globally.

    “The primary aspect of it is really shaping public policy and decision making within Canada as a starting point. But I think the chamber of commerce in many aspects also does work closely with boards of trade, and works internationally,” he said. “It’s still early.”

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    Did Democrats just help Trump win reelection?

    KEVIN C: The article spells out the problems, that we as a nation, have with Washington. The writer clearly points it out, without realizing he is doing so. The problem is this........Trump wanted the trade deal because he believed it was in the best interest of the country. The democratic leadership considered how the message will play out if they sign on to it. How it will actually affect the country, was secondary. I not saying that only the democrats do this, I am just pointing out that Washington is no longer government for the people, but rather legislation for the party. Their primary goal is to gain and hold power. Nothing else. Who is to blame for this? Well, the American people of course. Congress has an approval rating of 9%, yet the same people keep getting re elected. People now view the democrat part or GOP, like they were some sort of athletic team. They support them, win or loose, without the rationality that these people actually do make decisions that affect their lives. The act like it is some sort of game. The party’s are just like sports organizations. They just keep running promotions to get you to come out to the game. That is what this impeachment is all about. It is a promotion to get people to come out and watch the team play. Consider this, since the democrats took over the house, what have they done other than go after the president for anything they can think of? Sure, they have written a few legislative bills, but they have been so partisan that they knew that they would never pass. They didn’t write them to actually get anything done, they wrote them as part of the show. No, they are only doing things that they believe will keep the people coming to the park, to keep them in power. It’s a joke, and it is both sides. This last point is the best illustration I have to prove how insane the American people are when it comes to supporting a party without the slightest idea of what they are doing. Again, congress is at 9% approval. That means that 91% of the people think that congress is doing a lousy job. Yet, roughly half the country wants to give them more power and control of our lives through socialistic policies? We don’t believe they are effective at what they are doing now, so the answer is to give them even greater power? This is insane

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