Mexico could be one of the biggest players in the North American cannabis market, according to Xebra Brands (CSE:XBRA)(OTC:XBRAF), the first company allowed to commercialize cannabis per a Mexican Supreme Court ruling.
Even better, according to Xebra Brands President Robert Giustra, as quoted by Reuters, “Mexico is clearly legalizing. It’s going to happen, probably next year.” Once that happens, Mexico could become one of the biggest cannabis markets in the world, and could secure a big piece of an estimated $73.6 billion global market, as estimated by Grand View Research.
In addition to Xebra Brands, the news could be a major catalyst for Aurora Cannabis (NASDAQ:ACB)(TSX:ACB), Canopy Growth (TSX:WEED)(NASDAQ:CGC), Tilray Inc. (NASDAQ:TLRY)(TSX:TLRY), and OrganiGram Holdings (NASDAQ:OGI)(TSX:OGI).
Even more exciting, “Xebra is moving quickly to take advantage of its absolute first mover advantage. Discussions are underway to secure up to 300 hectares of suitable land for cultivation, and multiple Canadian and American companies with cannabis processing and extraction expertise have expressed an interest in partnering in Mexico. Manufacturing joint-venture opportunities with established Mexican parties have been identified, and distribution channels are being explored,” as noted in a company press release.