When most people think of legalized cannabis in the West they think of Canada's burgeoning industry and the potential of the U.S. market. Mexico usually gets left out of the conversation, but Cannabis One (CBIS) (CAAOF) CEO Jeff Mascio told TheStreet that the opportunity in Mexico is too good to ignore.
Mascio and Cannabis One will participate at a symposium in Mexico featuring dozens of legislators and media members to discuss best practices for building a legal marijuana industry from the ground floor.
"Next month we are actually going down [to Mexico] in order to have a symposium with all of the media outlets that are able to get the word out. And then also the lawmakers and dignitaries that will all meet in one place in order to make the decisions that are shaping the laws in Mexico," Cannabis One's Mascio said.
There are three main areas in which Mascio said legislation in Mexico was lacking. They include: a 20% foreign ownership cap; laws against vertical integration; and branding hurdles.
"So the vertical integration proposals don't allow us to control the entire supply chain. They want us to be able to control only one segment of the business, whether it be cultivation, manufacturing or retail. We want to be able to control all of that until the supply chains are actually more developed," Mascio said.
Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM
Catch Up: Today's Top News Videos Below