Canadian CANNAINVESTOR Magazine May 2017 - Page 23

By all accounts, growth in medical marijuana usage in Canada has been explosive. During the one-year period between June 30, 2015, and June 30, 2016 (the most recent data available from Health Canada), the number of licensed medical marijuana users in Canada increased from approximately 24,000 to more than 98,000.

Based on current levels of medical marijuana usage alone, the annual revenue target, just for Canada, is approximately $1.1 billion in 2020, according to Statista, an independent statistics company.

Number of licenses issued by province