Diane Scott, CEO of JMCC, talks about weighing the decision to go public and the benefits of private cannabis investing.
The public markets have offered the cannabis industry an avenue for direct growth and business impact. However, as the industry matures private companies are creating alternative options.
The Investing News Network (INN) talked with Diane Scott, CEO of Jamaican Medical Cannabis Corporation (JMCC), about the role of the private sector within the cannabis space at the Lift & Co. (TSXV:LIFT) cannabis expo in Vancouver.
Most recently, JMCC increased its production capacity in Jamaica. This acquisition will produce a minimum of three harvests per year of medical cannabis.
In an update, the company indicated that during its Q2 2019 it will incorporate an analytical testing lab, as well as processing, extraction, packaging, warehousing and logistics operations. JMCC expects to get inspected for a GMP certification by the end of the period.
As part of the conversation at Lift, Scott broke down the role Canadian firms have in terms of the rest of the world opening to the medical cannabis market.
Speaking in a panel at the business conference portion of the expo, Scott explained that Canadian companies are able to impart knowledge in emerging markets.
“There is a real opportunity in my opinion for Canadian [licensed producers] to have high-quality product to go to these places and import the Canadian product, and quite frankly the Canadian learning and experience, which is a win,” Scott told INN.
Private investment in cannabis market
JMCC is a private venture, and Scott wants to keep it that way — the executive confirmed that despite hearing from potential investors she has no plans to take JMCC public any time soon.
“We’re not going to seek an IPO any time in the near future, but I completely understand the rush that comes with becoming a public company — almost the wooing of the public market,” Scott said.
Codie Sanchez, an investor and partner with CS Ventures, previously told INN that private players are moving closer to the cannabis space in the US. She predicts that venture capital and private equity firms will enter the cannabis market more aggressively.
Don’t forget to follow us @INN_Cannabis for real-time updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.