Recreational Cannabis Fires Up North American Publishers And This Investment Guru

0
90

In a recent foliomag.com story, Kathy Ibsen cited this from Marijuana Business Magazine: “more than 60 percent of the U.S. population now lives in a state with some form of legalized marijuana.” When the article appeared, 29 states and the District of Columbia (D,C.) allowed legal medical cannabis in the U.S. Legal recreational use was allowed in 8 states (number 9, Maine awaits the governor’s action of a veto-proof legislation to legalize recreational use). The reason for Ibsen’s cannabis-centric article, however, was not to count heads–it was to count magazines Widespread interest in legalized cannabis has fired up the North American publishing world to the tune of functioning cannabis-focused magazines in the double digits, covering topics that range from the street-smart to the Wall Street-smart. Indeed, in the spring of 2017 the longest surviving and undisputed top pot periodical, the over 40 year-old High Times (HT) had been sold to a private equity firm for $42 million. It’s a leading voice in the cannabis world.

Last February, HT’s online version reported a deal between Canada’s Ontario provincial government and the online Vancouver-based retailer and brand builder, Shopify: the latter will benefit from the former’s ready and waiting legislation to legalize recreational cannabis.

The Chicago-based David Friedman has a few things to say about cannabis in Canada and North America. In 2015, he co-created the Vancouver-based Arcview Investor Forum’s North American Marijuana Stock Index that tracks the leading legal cannabis stocks operating in the U.S. and Canada. Today Friedman co-heads the cannabis venture capital Panther Opportunity Fund, and he is the president of VividGro, a division of Lighting Science, a global designer and manufacturer of LED lighting for consumer and commercial applications. VividGro is invested in lighting for cannabis production.

By: Thomas Pellechia, Forbes

NO COMMENTS

LEAVE A REPLY