b'ECONOMIC DEVELOPMENTwell as companies that provideAccording to CIBC analysts forecasts,considerably since the first round products and services for the broaderby 2020 the Canadian cannabis industryof legalization in the fall of 2018, market (ancillary).4will have a retail value of $6.8 billion,and continue to be of high value to The cannabis industry can be categorizedwhich will be larger than the hard liquorlarge-scale cannabis retailers and into three high-level industries, composedmarket ($5.5 billion) and almost as5 cultivators. As the first developed of numerous sectors each presentinglarge as the wine market ($7.5 billion). country to legalize the recreational use unique opportunities for economicGiven First Nations footprint in theof cannabis, the potential client base development and financial prosperity. wine and spirits industries, there existsfor such services over a long term can be a significant opportunity for Firstmeasured on an international scale, as Within each sector exists uniqueNations across Canada to expand intoother countries and states look to follow opportunities for First Nations acrossthe cannabis industry by leveragingin Canadas legalization footsteps.7 Canada to leverage the current state oftheir existing knowledge and expertise.Mergers and acquisitions have the cannabis industry and narrow theIn addition, Legalization 2.0 will seebecome increasingly popular in the economic gap that exists. Sectors such asthe legalization of several alternativecannabis industry, as producers look transportation, security and cultivation,cannabis products, including cannabis- to increase their overall capacity and which are already well represented byinfused beverages, which are expected toscale internationally. The 90 publicly First Nations throughout Canada, willgenerate approximately $529 million in also be required and heavily sought-aftersales (Deloitte).6 listed companies in Canada currently in the cannabis industry. These sectorshave a market value of approximately are complementary to the core activitiesOther ancillary sectors in the cannabis$31 billion. of producing and retailing cannabis;industry such as technology, media, however, they can be equally financiallyconsulting and law have grown rewarding and hold important roles in the supply chain of bringing legal cannabis to5 https://cannabusinessplans.com/canadian-cannabis- consumer shelves. market/6 https://www2.deloitte.com/content/dam/Deloitte/ca/ 7 https://www.prnewswire.com/news-releases/ Documents/c-and-ip/ca-en-consumer-nurturing-new- countries-following-in-canadas-footsteps-on-4 https://marijuanaindex.com/ growth-en-aoda-may31.pdf cannabis-legalization-300800981.htmlwww.afn.ca 47'