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First Nations hoping to cash in on Cannabis industry

First Nations hoping to cash in on Cannabis industry

Canada’s marijuana industry is expanding rapidly and First Nations are looking to cash in on the emerging economic opportunities.
Former Assembly of First Nations national chief Phil Fontaine has spent the last year travelling the country as C-E-O of Indigenous Roots, a medical marijuana company operated by and for Indigenous people.
The company is planning to build a grow facility in B-C, which would be staffed by First Nations and operating profits would be split 50-50 between First Nations partners and an existing medical marijuana company.
Fontaine says the industry holds tremendous potential for First Nations communities, providing jobs, wealth and training opportunities, and everywhere he goes First Nations are excited about the business prospects.
Alison Gordon, C-E-O of 48-North Cannabis, says her company has agreements with two First Nations near its operations in Kirkland Lake, Ontario, and the deals provide preferential hiring and funding for drug and alcohol education.
She says 49 First Nations have invested in the company, representing about 20 per cent of the shareholder base.

(The Canadian Press)

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