EPISODE #20 The European Market from a Canadian Perspective - What Can We Learn From Each Other?

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In this episode, we speak to Michael Garbuz and Deepak Anand who are key figures within the global cannabis space. Together, we speak about entry into the European market, what we can learn from Canada’s federal legalisation of both medical and recreational cannabis, and the key differences between the two markets. 

Together - Michael and Deepak are key influencers in the Canadian Cannabis industry and founded Materia Ventures in the last quarter of 2018. Materia Ventures is a Cannabis and CBD supply and distribution company based in Europe who are serving the growing cannabis and CBD markets.



About Deepak Anand

Deepak is the Executive Director of the Canadian National Medical Marijuana Association (CNMMA). The CNMMA represents the nascent Medical Marijuana industry in Canada. Their members comprise of Applicant and Licensed Producers, Physicians, Patients as well as Businesses providing services to the industry in Canada. Their mission is to ensure that all Canadian patients who benefit from medical marijuana have access to the highest quality of product and services, to meet their specific health care needs in a safe, well- regulated environment. They seek to advocate for the sector, guide patients and educate Canadians about medical marijuana, be a resource for medical practitioners, share best practices as well as be a resource for Health Canada.


About Michael Garbuz (JD, BMSc)

Michael began working in the cannabis industry at Cassels

Brock & Blackwell, where, he was able to build, lead and significantly grow the firm’s cannabis industry group. Michael went on to join CannaRoyalty as Corporate Strategy and Legal Counsel. A ‘next generation’ cannabis industry expert and strategist,

Michael Garbuz shapes ideas with stakeholders across the industry, from corporate finance specialists to PhD scientists. Michael thrives on business challenges and is deeply passionate about entrepreneurship. His corporate experience focuses on mergers and acquisitions, public offerings, private placements, going-public transactions, as well as private equity and venture capital. Michael’s life science background, coupled with his extensive experience in the legal and business fields, are formidable assets in helping develop and advance the research-driven future of cannabis products and the industry’s emerging medical and health innovations.



Podcast Episode Summary 

  • Materia Ventures focuses on supply and distribution over cultivation. The challenge is that there are a lot of arguably unsafe, untested and unregulated products on the market. This is an issue of concern for Michael and Deepak, who have made sure they are only supplying products of the highest quality to the European market. 

  • Materia Ventures have recognised the potential to claim market share within the European Market and have strategised a way of entering based on their extensive experience and knowledge of operations within the USA and Canadian markets.

  • One of the biggest challenges is around education - doctors, governments, doctors, and many other stakeholders who are part of the medical cannabis ecosystem are in need of in depth education which will allow them to understand the true benefits of medical cannabis and the wider market at large.

  • From a Canadian perspective - politicians need to become more open minded towards they way they approach medical cannabis - they need to keep an open mind and need to be willing to learn from patient experiences and situations across the world where medical cannabis has been successful. 

  • Politicians should take advantage of the regulations which other countries and government bodies have produced in medical systems where cannabis is successfully used medically - such as Health Canada, a government department who are responsible for helping Canadians maintain and improve their health.

  • The legalised medical cannabis industry in Canada has meant that patients are now receiving more regulated doses in a variety of different forms. They have gone from consuming cannabis in a dried herb form and guessing doses themselves, to being able to consume a regulated dose within oils and pill based products which are specifically prescribed for their individual condition and symptoms. 

  • In the UK, CBD products have a much higher RRP than in other countries, even though the processes of extraction and production are the same. This has the potential to mean that less people are likely to try the product as it requires a high level of initial investment without the promise of a return. 

  • Michael was corporate lawyer at a top first in Canada and started to see a lot of companies raising money to build cannabis facilities, he started becoming interested within it and realised there was ‘something special happening’. This is where his journey began. He started working exclusively with Cannabis law at his firm and then joined a group called Origin House in the US who are a California based distribution and manufacturing company. 

  • Deepak comes from the pharmaceutical industry and has worked across India and Europe. He founded an industry association in Canada called the Canadian National Medical Marijuana Association who lobby on behalf of patients and physicians. He comes from a conservative background and held traditional negative views around marijuana as a youth. 



Quotables

  • Existing markets in Europe are growing on a month by month basis 02:50

  • The pace is so significant you enter into meaningful commercial agreements at a pace that other industries have not seen. 18:35



UPCOMING EVENTS IN THE UK:

 

European CBD Expo in London 

Respected researchers, scientists, ag-tech, pharma experts, regulators, investors, entrepreneurs and eighty exhibitors will share their knowledge about the flourishing medicinal cannabis industry at Europe CBD Expo, Britain’s first-ever international Medicinal Cannabis and Cannabinoids Trade Show and Conference.

The B2B event will take place on Friday, 12th July at The ExCeL London, followed by a combined B2Band consumer day on 13th July.

 

Grab a ticket with 10% off using the link below - just make sure you enter ‘TCC’ at checkout to make use of the discount.

https://www.europecbdexpo.co.uk/tickets/ref/17/?campaign=thecannabisconversation