Ganja industry to pitch investment ideas in Cayman

| 22/05/2019 | 45 Comments

Cayman News Service(CNS): The Cayman Islands will be welcoming investors, bankers, lawyers, policymakers and healthcare professionals working in the fledgling cannabis sector to a summit on Thursday. Part of a series of conferences around the region, experts will be offering an overview of the legal ganja industry, examining both challenges and opportunities at the first CanEx Cannabis Investment Summit in this jurisdiction.

The Cayman Islands’ Misuse of Drugs Law was changed in 2016 to enable doctors to prescribe cannabis oil for medical use in certain circumstances, but that is as far as legislators have been willing to go to date.

However, global attitudes are changing rapidly. Cannabis use has been legalised in Canada for both recreational and medical use; it has also been legalised in some US states at varying levels (though not in federal law); Jamaica has amended its laws and is seeking to become the central hub for the medical supply.

This summit taking place at the Westin from 2-6pm tomorrow will include a panel discussion, with seasoned investors speaking about the global opportunities as well as regional ones and how the industry is developing.

Find out more about the summit here

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Category: Business, Medical, Retail

Comments (45)

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  1. Anonymous says:

    Ganja should be grown by natives only!!!! give us something swear if they do set up grows I will be setting out flames sick of this now man

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  2. Johnny Rotten says:

    Not into paying the $200 fee for this networking event, however I did consider it just to see which local individuals attended. No doubt someone in CIG is taking notes and reporting back to their handlers.

    On a similar note it might be interesting to find out how many of our politicians and business magnates are investors in the cannabis industry. This just might show that our leaders are hypocritical in their public opinion of the industry and its viability for Cayman.

  3. Anonymous says:

    Blacks and Browns criminalised and imprisoned for decades over the greens – meanwhile the Whites received probation and fines for the powder.

    Whites now poised to become wealthy by way of the greens.

    The colours of life – ain’t it swell?!

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  4. Anonymous says:

    At the very least could we grow it and then export it? or is that a dumb idea…

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  5. Anonymous says:

    yeeaahh, let me give my origin business plan to a bunch of monkees. Fool me once shame on you, fool me twice…

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  6. Legalize it, tax it. Put the money to education.

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  7. Mr420 says:

    Why do the editors here call it Ganja industry ? It just sounds ugly. Plus no one else uses that term to describe that industry. It’s always called “Marijuana or Cannabis Industry” in the real world. Using Caribbean street slang to describe a flourishing new industry just sounds dirty and comes off as the editors projecting their view onto readers.

    CNS: I’m seriously curious, what view do you think we are projecting?

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  8. Anonymous says:

    yep..good luck with that….
    we can’t even dance on sundays!

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  9. Anonymous says:

    Why is it the farmers are not invited to provide their input? I hope our policy makers are not going to allow importation when it can be grown locally 365 days a year!!!!

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  10. Anonymous says:

    Yep the only thing that is going to get our “leaders” to take any action and ignore the authoritarian right wing lobby is the opportunity for them to make money or the business interests demanding a change

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  11. Anonymous says:

    Concurrently, in a nearby conference room, the RCIPS, freshly infused with $50mln of our public money, convene with regional Policing partners to celebrate how they are all one step ahead of those supporting and/or investing in the illegal recreational drug trade. Well done guys. #facepalm

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  12. N. Harris says:

    Why must we ruin Caymanian’s lives over a medically recognized plant and prohibit growing a god given seed naturally in the ground, yet we fully tobacco cigs artificially laced with addictive nicotine to be smoked on government compounds?? We have a tobacco farm here too!

    “because it makes you a lazy weed head.”

    I partook a bit in uni, got a degree and make over 5k a month.. grown adult with my own home paid off. Stop generalizing.
    I also enjoy brewing some cannabis tea every few days to just relax and smile as I’m a past alcoholic and it’s a great way to curb the urge to go get drunk.

    “because our youth don’t need to be exposed to any more intoxicants”

    Everywhere that has legalized and regulated has seen a drop in teen use. Simply facts because putting it behind a controlled counter is a lot more hindrance than peer pressure to go buy a 5 from a rasta.

    Seriously, can anyone give me a valid reason why we shouldn’t allow personal growing of cannabis in Cayman? Why not kill the black market demand / smuggling incentive?

    Please!

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    • J|) says:

      “You shouldn’t need any drugs to live happily”

      Says the old fart that drinks 6 cups of caffeine a day and takes 3 pills for depression and sleep disorder

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  13. Anonymous says:

    Recreational Cannabis isn’t even legal here, yet we are promoting investment opportunities in a “criminal industry” we can’t participate in or sponsor…so much for DCI policing brazen PCMLATF violating events and cross-border money transfers to fund illicit production. Maybe there should be a cocaine transshipment conference (good money in that) or maybe a Taliban Opium investment seminar next (opportunity of a lifetime)? Or maybe a “how to” conf for the blood gem trade, or abducted virgin teen-bride container-stuffing? What is the difference, if our leadership has no core principles to offend or defend? RCIPS was just given a huge budget to crack down on this sector, and Cayman is still reeling from the reputational damage of the March CFATF Report and here we are promoting a four hour Gov’t of Jamaica dope conference at $200 per person! Pick a lane CIG!

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    • Matty T says:

      Or, you know, if the plant was legal to grow in our backyards, thousands of Caymanians wouldn’t seek it from drug lords who profit from that MILLION dollar “transshipment” black market. You think they tried bringing 900 lbs for fun?

      Smoke weed and all you’ll harm is a bag of doritos. How can that compare to “abducted virgin teen-bride container-stuffing”?

      Man cultivated cannabis for medical purposes (that is LEGAL here tyvm) for thousands of years long before we came along and made it illegal to cultivate a seed God gave us. These days, you pop a Lorazepam (drug) pill to sleep at night and brew a plant for a stimulant drug to drink during the day that keeps you awake.

      Relax. A cannabis brownie is exactly what would help a miserable person like you.

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      • Anonymous says:

        Recreational brownies are illegal, but here you are advocating them, interchangeably with prescription oils that aren’t made or exported by all of the attending companies openly luring Cayman investment dollars with what amounts to proceeds of crime.

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        • Anonymous says:

          You’re implying that you can’t use that same CBD oil in edibles, and it shows how much knowledge you have of the plant yet demonize it.

          Legal recreational use = not illegal. It isn’t a proceed of crime if investments are made in legal jurisdictions such as the entirety of Canada, you doofus.

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          • Anonymous says:

            CBD is only legal here with a medical Rx. Canadian law does not apply, let alone supersede Cayman Islands law. Investing in “proceeds of crime” industries is jailable here, even if our judiciary are asleep at the wheel. Maybe to prove the point, CIMA should go through the public filings of CVE new issues and bust all the CI resident investors.

    • Anonymous says:

      It’s crazy how you compared recreational cannabis to teen-brides. You have no issue with the promotion of nicotine-laced tobacco or alcohol but god forbid we bring a harmless plant into the mix with no marijuana-related deaths in the past two millennia. .

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      • Anonymous says:

        The point you missed is that proceeds of crime are proceeds of crime…there are no grey areas in that regard. After our recent failing CFATF report card, it is extraordinary that we are allowing recreational drug producers to openly solicit investment dollars from Cayman-based investors. Many of the recent tours by Cdn jr cannabis companies, are not involved at all in the medical sector. Might as well be the Cali cartel as far as legality in the Cayman Islands goes. The CIG needs to decide where it truly stands, instead of wasting tens of millions pretending to fight a battle for unknown optical purposes. Legalize or Criminalize, we can’t have it both ways.

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      • Anonymous says:

        You missed the point. CIG must legalize before inviting investment solicitations from regional recreational crop growers. It is another example of CIG’s right hand not knowing or caring what the left hand is doing.

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  14. Anonymous says:

    Finally a crop that everyone at the prison farm would volunteer to work on.

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    • Anonymous says:

      I would agree but unlike cocaine where you have to unnaturally process it with gasoline and all sorts of nasty chemicals to modify it, with cannabis you simply pick it off the tree, dry it and that’s it. Too easy to break a lil bud off and smoke it.

      Prison is for punishment not relaxing.

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      • Anonymous says:

        Anyone growing a tropical cash crop uses pesticides and fungicides. Cheap diesel is sprayed on the leaves and buds in the third world countries that seek lowest cost of production, and it raises far less flags on illicit grow ops. Eagle 20, toxic when burned, is also used. Myclobutanil, Mancozeb, Imidaclopria, Chlorothalomil, Bifenturin, Captan, Acephate, Cythalothrin, Carbaryl, Cyfluturin, and Hydramethylon are some of the other chemicals you’re consuming. Enjoy.

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        • Anonymous says:

          A friend of a friend grows it for personal use locally and organically in some nice bluff red soil. All he adds is sun and water..

          That’s the whole point of legalizing personal growing! You know you aren’t getting those pesticides from black market farmers because you now have control over what your plant used to grow!

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          • Anonymous says:

            That’s the thing about drug dealers, it’s not an honest profession, and they are commercially motivated to lie to you. Everything grown in the tropics, from ornamentals to produce, needs to be actively monitored and preventatively sprayed with something or it risks being infested in weeks…I guarantee that motivation is even more so with a valuable cash crop.

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      • Anonymous says:

        You are completely delusional. Caterpillars, Aphids, thrips, spider mites, white flies, bud rot, mould, mealy, and scale are just some of the pests that would feast (and ultimately consume the crop) if liberal amounts of pesticides weren’t regularly applied to weed – even indoor grow-ops!

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        • Anonymous says:

          You have grossly exaggerated. For one thing, thrips and white flies are attracted to plants which produce yellow flowers, which Cannabis does not.

          Another — Those plants in the order Urticales are particularly resistant to most, if not all, of the above pests. Pesticides/instecticides need only be applied to areas in which an outbreak occurs, and then there are several inhibiting compounds (horticultural soap, etc.) which can be used with great effectiveness.

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        • Anonymous says:

          As a Caymanian who used to grow outdoors in the 1990s –

          You’re the delusional one. Pesticides indoors? LOL troll alert.

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      • Anonymous says:

        prison is for rehabilitation

  15. Anonymous says:

    This is what we need! Legal pot is a must and Cayman will be left in the dust when it comes to first world normalities if two things are not met soon: legal weed and same sex marriage.

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    • Anonymous says:

      100% @ 3:25! Change, grow and evolve already! The incompetence is getting boring CIG! You want JA to be the hub for medical cannabis distribution or us? Put Cayman on the map for some forward thinking ffs!!

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      • Anonymous says:

        If you legalise cannabis all our banks will loose access to the US Federal banking system. No Cayman bank will want to loose correspondent banking

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        • Anonymous says:

          $180mln a year already goes back to Jamaica annually via our grocery store smurfs. There are a half dozen Western Union branches in Tivoli Gardens to receive and reconsolidate it all.

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        • Anonymous says:

          use a local branch with Canadian ties.

          you do have to watch out for being barred for US entry though in you are involved in the legal industry same as in Canada

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          • Anonymous says:

            Thanks for the money laundering lesson. It is true that Canadians, their institutions, and (largely absent) regulatory apparatus, have little sensitivity to International PCMLATF violations. US cash transfers clear through Fedwire, and it is illegal to transfer of receive proceeds of crime. Spin the wheel and take your chances if that’s your line of trade.

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          • Anonymous says:

            Local Canadian banks refuse to touch this business as they are independent of the Canadian parent – (some of them are Cayman subsidiaries). They too have USD correspondent banking issues to consider

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            • Anonymous says:

              All of our local broker dealers and SIBLs are flogging Cdn venture exchange pot deals. Cayman resident investors all over SEDAR. CIMA totally asleep.

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