b'ECONOMIC DEVELOPMENTTHE POT POTENTIALOverview and facts: The cannabis industryLegalization 1.0 International and National Overview such as transportation, technology and The Federal Government passed theNorth America security, the total cannabis market in Cannabis Act (C-45) in June 2018,The North American legal cannabisCanada is actually worth more than which legalized the use of cannabis formarket amounted to $15.8 billion in 2018,$22 billion.recreational purposes. The Act came intorepresenting a substantial growth of 30Eleven per cent of Canadians already effect on October 17, 2018. The new law isper cent over the year.1 Canada was theconsume cannabis edibles and other designed to protect youth, control accesssecond largest market behind the U.S.,alternative products, and 13 per cent of and provide strict regulation aroundamounting for $2.1 billion of the totalCanadians are expected to buy them, recreational use of cannabis. Since theNorth American market. meaning nearly one in four Canadians legalization, provinces and territories haveare expected to consume or are likely been working on developing their ownAs reported by Arcview Market Research,to consume cannabis edibles and other respective policies and regulations aroundin partnership with BDS Analytics, thealternative cannabis products.3the use of cannabis.entire legal cannabis market in NorthAncillary MarketsAmerica is forecasted to reach $32.4While many First Nations are concerned Legalization 2.0 billion in sales by 2021, which representsby and are seeking solutions to current As Canada prepares for the second stagean annual growth of 28 per cent, as morejurisdictional issues, there remains of cannabis legalization, Canadiancountries and states legalize cannabis forsignificant opportunity for First Nations entrepreneurs and businesses in variousrecreational use. to participate in the Canadian cannabis ancillary markets have already begunCanada industry, particularly in ancillary to capitalize on the significant marketThe cannabis market in Canada, includingmarkets. The cannabis industry impacts opportunity that Legalization 2.0medical and recreational cannabisa wide range of industries throughout presents. On October 17, 2019, theproducts, is expected to generate upthe economy, including companies second stage of cannabis legalization sawto $7.17 billion in total sales in 2019. that interact with the marijuana plant 2edibles containing cannabis and cannabisHowever, forecasts have shown that when(touching the plant), companies that concentrates become legal, creating aincluding ancillary cannabis marketsdirectly support cannabis cultivators consumer market which is expected to beand retailers (direct support), as worth more than $2.5 billion a year and generate higher profits for retailers than1 https://cannabusinessplans.ca/canadian-cannabis- cannabis products that are already legal. market/ 3 https://www2.deloitte.com/content/dam/Deloitte/ca/ 2https://finfeed.com/small-caps/technology/pot-stock- Documents/c-and-ip/ca-en-consumer-nurturing-new- rotogro-delivers-valuable-canadian-contract/ growth-en-aoda-may31.pdfTOUCHING THE PLANT DIRECT SUPPORT ANCILLARY BiotechnologyAgTechConsumption DevicesCultivation & Retail Real Estate Investing & FinanceHemp ProductsSecondary Services Other AncillaryTransportationMarijuana ProductsSecurityTech & Media46 The Circle Winter Issue 1 2019'