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SMITHS FALLS, Ontario — Millions of dollars worth of marijuana plants sat under lamps brighter than the noonday sun as employees of Canada’s largest cannabis business bustled about the 47 giant growing rooms of its factory, which once made Hershey bars.
Now it’s home to Tweed, whose parent company, Canopy Growth, was the first Canadian marijuana grower to debut on the New York Stock Exchange.
Valued at more than $10 billion, Canopy is worth even more than Bombardier, the Canadian manufacturer that is one of the world’s largest makers of planes and trains, offering a stark example of this nation’s new get-rich-quick hope — the marijuana industry.
On Oct. 17, Canada is set to become only the second country in the world and the first major economy to legalize marijuana for all uses. Companies are clamoring to join in what some are calling a green rush.On the same day that marijuana becomes legal, the government will announce a program to make it easier for Canadians convicted of possessing small amounts of marijuana to obtain a pardon, according to an official familiar with the plan.The official, who spoke on the condition of anonymity, said that because several details must still be worked out, the program will not become active immediately. Pardons are to be available only for people convicted of possessing 30 grams of marijuana or less, the legal limit under the new system. The law limits the products that can contain cannabis; edibles, for example, will not be legal until next year.
