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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (35183)	10/6/2017 8:51:24 AM
From: Goose94	Read Replies (2) of 202121

TD Bank (TD-T) and Bank of Montreal (BMO-T) are emerging as the banks of choice for Canada's burgeoning marijuana industry. The two banks are providing business accounts to at least 21 cannabis companies, according to interviews with 45 firms tied to the drug. Canadian banks are warming to an industry. Canada's recreational pot sales are forecast to reach $6-billion by 2021, surpassing the $1.3-billion estimate for the mature medical marijuana market. Ontario's government is already forging ahead with plans to set up its own weed stores. Some financial experts say that there could be a significant first-mover advantage for the banks which are getting involved with the industry. TD is banker to at least nine producers including MedReleaf, Cronos Group, TerrAscend and Beleave. The lender assesses banking and loan applications from businesses in any legalized industry on a case-by-case basis. Royal Bank and Scotiabank are among those which shut out pot companies. Both have shuttered accounts of industry players, but are reviewing their policies.

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