Canada: Regina Investor Has a High Regard for the Cannabis Industry
Jason Drummond sees cannabis as a good investment.
That’s why his company, York Plains Investment Corp., has earmarked $3 million to invest in businesses in the growing marijuana industry.
“It sounds maybe a bit taboo, but in reality it’s scientifically-proven medicine,” said Drummond.
He and four partners have secured finances from almost 50 people, and hope to raise a total investment of about $30 million; $100,000 is the minimum individual commitment.
Those investors include some legal marijuana growers and people from across Canada, including Regina businessman Mike Ash.
Drummond, Ash’s partner in the Leopold’s Tavern ownership group, told him about the opportunity.
It’s an “exciting investment opportunity,” Ash said by email. “The cannabis business in Canada is truly at the ground level.”
Until now, said Drummond, there hasn’t been a formalized, professionally managed investment fund focused exclusively on the cannabis industry.
Many retail and institutional investors “haven’t wrapped their heads...
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