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Photo file of Canopy Growth Corp. & # 39; s CHief Executive Officer Bruce Linton. Photographer: Galit Rodan / Bloomberg
One of the biggest problems that the cannabis industry is currently facing is the lack of legal access to the banking sector. Cannabis cCompanies like dispensaries are creating with companies that only pay for money or use cryptocurrencies and blockchain technology, to circumvent the current federal regulations prohibiting banks. However, according to Canopy Growth CEO Bruce Linton, this problem could be solved as early as January 2019, by which time, according to him, canna companies will be able to start legally. Linton calls this unprecedented decision a "Christmas present" to the cannabis industry.
Addressing a handful of attendees at a cannabis conference in Montego Bay, Jamaica, two weeks ago, Linton, affable, is wearing jeans and a t-shirt, s & # 39; is confident that the banking problem will be solved in the coming months.
Linton first alluded to a first development of the year. Later in his presentation, he mentioned that he was waiting for a major development regarding banks and their ability to transfer money before Christmas.
Recent developments with Bank of America (BOA) are also moving in this direction. Linton also casually admitted that several banks had made representations to his company in an attempt to induce him to change banks.
With marijuana prohibition ending in Canada in a few days on October 17, the country's Scotiabank will allow legal cannabis banks. Scotiabank, whose branches are also present in Jamaica, has partnered with Bank of America. Funds deposited with Scotiabank can be withdrawn at Bank of America ATMs and counter counters and vice versa with a Scotiabank debit card.
While the general public watched a bleached and undiversified video advertisement for Canopy Growth (the very few white women featured in the marketing film appeared to be cannabis pickers or workers, not executives), who were applauded with politeness. everyone was not enthusiastic.
YouTube user Major Twang commented: "Poor Linton, pimpose its design [sic]-Failed-Gamma-irradiated-burned-terpenes-junk-weed to an empty audience. "
Perhaps because his speech was uncrowded, his Easter banking egg flew under the radar. Meanwhile, Linton seemed happy just for the free trip to Jamaica.
Major Twang went on to say that Linton was "Oa total contact with the cannabis culture ", which does not seem to concern him in the least, while relaying a conversation that he was surprised at the exhibition on corporate social responsibility, Linton seems slightly annoyed.
Linton admits that, even if her point of view may be inappropriate, "companies do not behave, they have a purpose and their goal is to make money". However, he points out that the purchase of ancillary items locally, even if prices are slightly higher – starting with pots-and-pits for innovative construction sites – boosts the local economy . Subsequently, buying locally has a mutually beneficial, if not necessarily altruistic, purpose.
Linton admits he's "crazy" about his port-a-pot theory, and sees it as the cornerstone of local economic stimulus. He insists that it creates a snowball effect. "We have almost two thousand employees and they know all the rules of port-a-potties rental locally," He insists.
His theory is that if he wants to hire doctoral students in a local city, he has to buy garden pots for his on-site construction sites, so that the pot-to-pots vendor uses his new additional income. and it's okay. dinner more often, which will create better restaurants, then local car dealerships will improve. Then, the houses will pass, so that when his PhD employees start to work there, they will not say, "My God, what a horrible city."
Unsurprisingly, Linton's pregnant pause was assailed by a stunned silence from the audience and by an incredulous side-eye of the few Jamaicans present. (Maybe decent restaurants existed at first, however, a rights holder might not be able to discover them if they are not on the beaten track.) actively engage in corporate social responsibility, like Papa & Barkley.
Harbor-Pottery and deaf remarks like Trump "country hole"On the side, Linton said he's confident that since his cannabis company had infiltrated the New York Stock Exchange – although they're not allowed to ring or even ring the time of day." Opening, the banks will naturally follow.
Linton states that being publicly traded validates the company's adherence to anti-money laundering rules, which meant that about a month ago, Bank of America could lend Constellation Brands Inc. – The business behind Corona beer – About five million Canadian dollars to give it. The decisive agreement reached between Canopy Growth and the Corona producers has more than doubled the price of its shares. Linton, however, attributes the exorbitant value of Canopy to the global market for medical marijuana.
Whatever it is, Linton is confident that this sequence of events provides enough "momentum and weight to quickly solve the banking puzzle".
He also noted that while 22 countries wanted to export marijuana for medical purposes, only two countries to date, Brazil and Poland, wanted to import marijuana for medical purposes. This is not necessarily true. Germany is the only group Cronos, competitor of Canopy Growth. J & # 39; hopeLinton's insider insights into the banking sector are more accurate than his comments on the importation of cannabis.
If banking transactions for the cannabis industry take place by the next quarter, this is likely to be attributable to financial institutions eager to take advantage of the huge global profits that marijuana money has to offer, and not just through the charm of Canopy Growth.
"I'm not saying that everyone will benefit instantly, but there will be no one who will not benefit from it later," Linton said.
Christmas is just around the corner.
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Photo file of Canopy Growth Corp. & # 39; s CHief Executive Officer Bruce Linton. Photographer: Galit Rodan / Bloomberg
One of the biggest problems that the cannabis industry is currently facing is the lack of legal access to the banking sector. Cannabis cCompanies like dispensaries are creating with companies that only pay for money or use cryptocurrencies and blockchain technology, to circumvent the current federal regulations prohibiting banks. However, according to Canopy Growth CEO Bruce Linton, this problem could be solved as early as January 2019, by which time, according to him, canna companies will be able to start legally. Linton calls this unprecedented decision a "Christmas present" to the cannabis industry.
Addressing a handful of attendees at a cannabis conference in Montego Bay, Jamaica, two weeks ago, Linton, affable, is wearing jeans and a t-shirt, s & # 39; is confident that the banking problem will be solved in the coming months.
Linton first alluded to a first development of the year. Later in his presentation, he mentioned that he was waiting for a major development regarding banks and their ability to transfer money before Christmas.
Recent developments with Bank of America (BOA) are also moving in this direction. Linton also casually admitted that several banks had made representations to his company in an attempt to induce him to change banks.
With marijuana prohibition ending in Canada in a few days on October 17, the country's Scotiabank will allow legal cannabis banks. Scotiabank, whose branches are also present in Jamaica, has partnered with Bank of America. Funds deposited with Scotiabank can be withdrawn at Bank of America ATMs and counter counters and vice versa with a Scotiabank debit card.
While the general public watched a bleached and undiversified video advertisement for Canopy Growth (the very few white women featured in the marketing film appeared to be cannabis pickers or workers, not executives), who were applauded with politeness. everyone was not enthusiastic.
YouTube user impose its design [sic]-Failed-Gamma-irradiated-burned-terpenes-junk-weed to an empty audience. "
Perhaps because his speech was uncrowded, his Easter banking egg flew under the radar. Meanwhile, Linton seemed happy just for the free trip to Jamaica.
Major Twang went on to say that Linton was "Oa total contact with the cannabis culture ", which does not seem to concern him in the least, while relaying a conversation that he was surprised at the exhibition on corporate social responsibility, Linton seems slightly annoyed.
Linton admits that, even if her point of view may be inappropriate, "companies do not behave, they have a purpose and their goal is to make money". However, he points out that the purchase of ancillary items locally, even if prices are slightly higher – starting with pots-and-pits for innovative construction sites – boosts the local economy . Subsequently, buying locally has a mutually beneficial, if not necessarily altruistic, purpose.
Linton admits he's "crazy" about his port-a-pot theory, and sees it as the cornerstone of local economic stimulus. He insists that it creates a snowball effect. "We have almost two thousand employees and they know all the rules of port-a-potties rental locally," He insists.
His theory is that if he wants to hire doctoral students in a local city, he has to buy garden pots for his on-site construction sites, so that the pot-to-pots vendor uses his new additional income. and it's okay. dinner more often, which will create better restaurants, then local car dealerships will improve. Then, the houses will pass, so that when his PhD employees start to work there, they will not say, "My God, what a horrible city."
Unsurprisingly, Linton's pregnant pause was assailed by a stunned silence from the audience and an incredulous sidelong glance by the few Jamaicans present. (Maybe decent restaurants existed at first, however, a rights holder might not be able to discover them if they are not on the beaten track.) actively engage in corporate social responsibility, like Papa & Barkley.
Harbor-Pottery and deaf remarks like Trump "country hole"On the side, Linton said he's confident that since his cannabis company had infiltrated the New York Stock Exchange – although they're not allowed to ring or even ring the time of day." Opening, the banks will naturally follow.
Linton states that being publicly traded validates the company's adherence to anti-money laundering rules, which meant that about a month ago, Bank of America could lend Constellation Brands Inc. – The business behind Corona beer – About five million Canadian dollars to give it. The decisive agreement reached between Canopy Growth and the Corona producers has more than doubled the price of its shares. Linton, however, attributes the exorbitant value of Canopy to the global market for medical marijuana.
Whatever it is, Linton is confident that this sequence of events provides enough "momentum and weight to quickly solve the banking puzzle".
He also noted that while 22 countries wanted to export marijuana for medical purposes, only two countries to date, Brazil and Poland, wanted to import marijuana for medical purposes. This is not necessarily true. Germany is the only group Cronos, competitor of Canopy Growth. J & # 39; hope, Linton's insider remarks about banks are more accurate than his remarks about importing cannabis.
If banking transactions for the cannabis industry take place by the next quarter, this is likely to be attributable to financial institutions eager to take advantage of the huge global profits that marijuana money has to offer, and not just through the charm of Canopy Growth.
"I'm not saying that everyone will benefit instantly, but there will be no one who will not benefit afterwards," Linton said.
Christmas is just around the corner.
