VIDEO: BC accounting firm sees opportunity in cannabis

Peter Guo of MNP LLP remembers the days when any suggestion about money to be made in the marijuana business was met with wise-cracks and Cheech and Chong references. But these days he fills rooms with business people looking to position themselves to take advantage of some very real opportunities. Guo spent some time with us at KelownaNow during his visit to address the local chamber of commerce.

Guo is a leading voice for MNP in the Cannabis field. He fondly remembers the day Legalization became a reality in Canada. "I was sitting in, of all places, Vienna," he recalled. "I remember scanning the newswires, CNN, BBC etc. and they were all talking about it."

"They all talked about Canada leading the way," said an enthusiastic Guo. One example is in how cannabis companies go about raising capital, including American companies. "They can't list on the NYSE and the Nasdaq. They come and list here in Canada."

Guo said he has been impressed with recent policy shifts in Canada that will help us maintain a leadership position. He's pleased with Health Canada's creation of a new regulatory category of 'Cannabis Health Products'. It means they won't have to be sold in plain packaging. That, he said, will help businesses establish themselves once edibles and beverages are free to enter the marketplace. "That's going to be exciting that's 2020." Guo praised government officials for listening to the business community here. "I think government is starting to realize," he added. "We have to let some of these things happen."

In terms of investment opportunities, Guo is focussed on edibles which should be on the market this year. "Where is the industry going?" he asked. "The switch from the consumption of smoking to everything else," he said. "Those things are moving."