Two of Canada’s biggest cannabis companies have taken a keen interest in First Nations communities, with Canopy Growth looking for partners while Tilray aims to make medical marijuana free for indigenous people through the Non-Insured Health Benefits Program (NIHB).
“We are open for business opportunities for indigenous opportunities. We have two that are actively being pursued right now, in Manitoba and Quebec, in various forms of negotiation,” said Sean Webster, director of government and stakeholder relations for Canopy Growth, speaking on a panel at the first National Indigenous Cannabis and Hemp Conference in Calgary on Tuesday.
“We’re open for business and partnership. It’s not about us going into First Nations and starting some sort of retail and owning it. We’ve got the capital. If something makes business sense and we can make a partner out of it, it’s certainly something we can look at.”
Earlier this month, the first legal retail cannabis store on First Nations land opened in Manitoba following a partnership with National Access Cannabis, with more government approved operations set to open on reserves as they aim to establish vertically integrated companies.
Philippe Lucas, vice president of global patient research and access for Tilray, which grows medical cannabis, said he is determined to find a way for First Nations to receive medical cannabis for free through the Non-Insured Health Benefits (NIHB) program, which provides coverage for some medically necessary items and services not covered by other programs.
“Tilray’s goal is not to look for investors. I’m looking for allies to help get NIHB coverage. First Nations patients in Canada should never have to pay for their cannabis,” Mr. Lucas said.
“It’s a treaty right to have NIHB, to have that benefit. If we’re going to walk down that path and resolve NIHB, it will need to benefit First Nations in a value-added way,” said Isadore Day, former Assembly of First Nations regional chief of Ontario who moderated the panel discussion. And while some First Nations attending the conference expressed interest in growing cannabis at a commercial level, Mr. Lucas advised against it. “If your goal is to produce cannabis and you’re starting it right now, you’re going to be coming into a very different market than what it is right now,” Mr. Lucas said. Though Canada is in the throes of a supply shortage, Mr. Lucas said the pendulum will swing to a surplus and this will mean prices will drop sharply. “Instead of looking at production, which is right now the hot item and the valuations are high, but to me the retail end is what bears development,” Mr. Lucas said.