VANCOUVER (NEWS1130) – It seems everybody wants a piece of the medicinal marijuana industry, but provincial regulators are warning investors to do their due diligence before buying in.
Getting in on the ground floor of any emerging industry and reaping the financial rewards is the fantasy of many investors, and it’s no different with medicinal pot.
But Peter Brady with the BC Securities Commission says before you buy in, find out who’s running the company.
“You need to look at the background of the people involved,” Brady says. “Do they have a background in pharmaceuticals? Do they have the ability to raise money in the public markets?”
Brady also says to find out whether the company has a licence to grow pot, or simply intends to apply to get one.
“The list of companies that have a licence from the Federal Government is relatively short,” Brady says. “It could take a significant period of time to get that licence.”