A first-time conference on medical marijuana and hemp production and investment is underway in Vancouver.
Standing among a few hundred people, most wearing suits, Jay Oness, CEO of the corporation putting on the event says his background is mining but he hopes other investors like him, see the business side of this industry.
He says, “Industrial hemp has been around for many, many years. It’s gaining a lot of momentum in terms of a crop and all of its different uses, from a medical marijuana is finally being driven by legislation.”
Oness says there will always be questions about the hemp industry, as there are with tobacco and cigarettes, but he says he hopes investors remain open to what is a $1.4 billion industry in North America.
Guan Lim with Boreal Technologies, which does research and development on industrial hemp that has the “high-inducing” THC removed, says this is the first he’s seen like this in Vancouver and he hopes it opens eyes.
He says, “It’s just a matter of getting educated. Once you really understand what we have here I think people will have a very different impression.”
Lim says Canada is a trend-setter when it comes to the growing market for industrial hemp that’s used for manufacturing and inflammation-reduction.
It was first legalized 14 years ago.