What’s the biggest challenge advisors face when trying to understand risk in this space?

I echo what Tim says. There is uncertainty despite the fact that we’re pretty far along the chain of what’s happening. The uncertainty for Canadian client comes from the lack of integration between the legislative instruments and case
law development that is still in its infancy.

Ultimately, we are able to provide an interpretation of what we think is going to happen, but we do not have comprehensive judicial guidance yet. The lack of considered interpretation will persist until the cases make their way through the Courts.

In terms of cannabis accessibility; it’s accessible anywhere, recreationally and medicinally.

Medicinal cannabis is even easier to get outside of urban centres with widely available retail store because it is available by mail from a centralised depot.

As the industry matures, it remains to be seen how many of the smaller players will be able to survive natural market consolidation. This is the type of consolidation that we have already seen among Canadian cannabis producers, the largest of which are predominantly in Ontario and in BC.

In terms of IP enforcement and advertisement restrictions, both the Trademarks Act and the Cannabis Act are federal instruments so there will not be any differentiation by province, these matters will eventually make it before the Federal Court of Canada.