The battle for the legalization of recreational marijuana in Canada may not yet be drawing to a close, but the country has already deployed the very first publicly traded recreational marijuana company in the world: Nutritional High International, Inc.
The Toronto-based company started trading last March on the alternative Canadian Securities Exchange, closing at 8.5 cents per share on its first day with a volume of nine million, making it the most active stock that day. It raised a total of $1.6 million during its initial public offering. There are already medical marijuana companies that are being traded in Canada, but Nutritional High is the first in the recreational marijuana category.
Nutritional High produces oils and extracts from bud, which are often mixed into marijuana edibles like gummies, hard candies, and chocolate cake bites—something that’s still illegal even for medical marijuana companies in Canada. Hence, the company is targeting markets in the US where recreational weed is considered legal, like Colorado. It is also contemplating on expanding to other states like Washington, Nevada, Oregon, and Minnesota.
At present, Nutritional High does not harbor any hopes of breaking into the Canadian marijuana industry. However, a case being heard in the Supreme Court of Canada arguing that banning edibles is unconstitutional might just open the doors to the country’s edibles sector.
Do you think pot edibles should be made legal for Canada’s medical marijuana patients? Voice your opinions in the comments section below—your opinion matters to the nation.