Revenue in Canada’s cannabis sector is forecasted to more than double next year despite slower-than-expected growth, according to a leading industry analyst.

CIBC Capital Markets, the investment banking subsidiary of the Canadian Imperial Bank of Commerce, sees recreational cannabis sales hitting CA$4.1 billion in 2021.

Under the Cannabis Act, Health Canada offers a number of licenses for Cannabis cultivation, processing and sale.

Obtaining a Cannabis Licence and being able to sell/produce Cannabis Products typically involves all of the following general steps:

1. Identify the type of licence needed for the activities you wish to conduct.
2. Acquire a facility and modify it to meet all Security and Good Production Practices (GPP) requirements.
3. Create a CTLS account for the company.
4. Hire and designate required individuals for the licence (i.e. Head of Security, RPIC, QAP).
5. All required individuals associated with the licence must create CTLS accounts and apply for Security Clearances.
6. Create all standard operating procedures (SOPs) and documentation needed to meet the requirements of the Cannabis Regulations.
7. Create an application through the CTLS for the licence(s) desired and gather the information needed to submit the application.
8. After the application is submitted, clear any “requests for more information” from Health Canada.
9. Complete in-person audit/inspection with Health Canada at the facility.
10. Send official responses to any deficiencies identified during the facility inspection.
11. Await approval of responses and granting of licence(s).
12. Send 60-day new product notifications for all products that are to be sold after licence(s) received (NOTE: these can be sent while awaiting approval for the licence).

Find Out More

If you are interested in obtaining a cannabis license, NaturalSci Regulatory Consulting can help you to get started. The best place to start is to set up a consultation with one of our specialists. Click the link below to get in touch with us.