Yet on contacting some industry players it’s revealed..
The Globe has confirmed through talking to various licensed growers that at least three of the big five banks do business with the new industry, which was created when the Tories outlawed home growing in favour of industrial-scale producers that are strictly regulated.
Khurram Malik, an analyst with Toronto-based Jacob Securities, an investment bank that services the sector, says bankers still view cannabis with caution. But that will change as legislation appears and the challenges facing their resource-industry clients continue to nudge the banks toward accepting new business, Mr. Malik said.
“You would think with the oil and gas falling off the rails and mining falling off the rails, they would be looking at new places to go,” Mr. Malik said. “A lot of institutional investors will not touch it because it makes them nervous from an optics standpoint.”
An interesting report a worth a read if the changes in legislation in Canada go through as quickly as expected.