As of Tuesday, investors have a new commodity they can invest in on Canadian stock exchanges: cocaine..That’s because a Vancouver-based company is looking to cash in on British Columbia’s burgeoning market for government-funded dope in what is believed to be the first initial public offering of its kind..Safe Supply Streaming Co. Ltd. (SPLY:CNSX) made its market debut on the Canadian Securities Exchange on Tuesday with a mission to invest in the growing supply chain for what it calls the “third wave” of drug policy reform — the eventual legalization of hard drugs such as cocaine, methamphetamine and opioids such as heroin and fentanyl..Its executive team is made up of veteran entrepreneurs from Canada’s legal cannabis trade..“The burgeoning safe supply ecosystem is more than just a business; it’s a movement,” says chief executive Bill Panagiotakopoulos. .“A global shift is underway where governments, policymakers and societies are making the decision to accept and embrace all drugs, whether through de-scheduling, re-scheduling or legalization because existing policies simply haven’t worked. Our strategic positioning and our experienced leadership team, backed by a robust financial foothold, positions us to move quickly on initiatives that will have impact and build a promising future that is not only profitable but also sustainable and responsible.”.Rather than invest in actual drug production, the company will initially invest in a basket of testing and distribution firms needed to support government efforts to combat a wave of overdose deaths..Lotusland, in particular, is expected to be the epicentre of the legal drug trade, with one of North America’s — and the world’s — first government funded ‘safe supply’ programs..Since 2020, addicts in BC have been able to receive doctor-prescribed fentanyl and morphine — in both oral and injectable forms — and stimulants under its so-called ‘safe supply’ program. And in January of this year the province decriminalized minor possession of all illegal drugs, including crack and meth..In 2023, the provincial and federal governments will spend more than $1 billion to combat the toxic drug supply via drug-checking service, ‘safe’ consumption sites and prescriptions for addicts..More drugs are on the way. Governments in both Canada and the US are conducting clinical trials on psilocybin — the active ingredient in magic mushrooms — ketamine, and even ecstasy, otherwise known as ‘Molly’ or MDMA. .In an investor presentation on its website, the company identified a $360 billion market for illicit drugs worldwide, including $3.2 billion in BC alone for “safely supplied cocaine.”.Specifically, with respect to coke itself, the company sees a $50 billion market for ‘energy drinks’ — Coca-Cola, the original cocaine infused energy drink only nets $43 billion — $275 billion for ‘functional foods’ and a whopping $382 billion for pharmaceuticals..By contrast, Canadians bought about $11 billion worth of cannabis — in all its forms — in 2022..Markets weren’t exactly impressed. After hitting the market at 37 cents on Tuesday — substantially less than a ‘point’ on the sidewalk — the company’s shares promptly lost more than half their value and were trading at 18 cents on Wednesday morning.
As of Tuesday, investors have a new commodity they can invest in on Canadian stock exchanges: cocaine..That’s because a Vancouver-based company is looking to cash in on British Columbia’s burgeoning market for government-funded dope in what is believed to be the first initial public offering of its kind..Safe Supply Streaming Co. Ltd. (SPLY:CNSX) made its market debut on the Canadian Securities Exchange on Tuesday with a mission to invest in the growing supply chain for what it calls the “third wave” of drug policy reform — the eventual legalization of hard drugs such as cocaine, methamphetamine and opioids such as heroin and fentanyl..Its executive team is made up of veteran entrepreneurs from Canada’s legal cannabis trade..“The burgeoning safe supply ecosystem is more than just a business; it’s a movement,” says chief executive Bill Panagiotakopoulos. .“A global shift is underway where governments, policymakers and societies are making the decision to accept and embrace all drugs, whether through de-scheduling, re-scheduling or legalization because existing policies simply haven’t worked. Our strategic positioning and our experienced leadership team, backed by a robust financial foothold, positions us to move quickly on initiatives that will have impact and build a promising future that is not only profitable but also sustainable and responsible.”.Rather than invest in actual drug production, the company will initially invest in a basket of testing and distribution firms needed to support government efforts to combat a wave of overdose deaths..Lotusland, in particular, is expected to be the epicentre of the legal drug trade, with one of North America’s — and the world’s — first government funded ‘safe supply’ programs..Since 2020, addicts in BC have been able to receive doctor-prescribed fentanyl and morphine — in both oral and injectable forms — and stimulants under its so-called ‘safe supply’ program. And in January of this year the province decriminalized minor possession of all illegal drugs, including crack and meth..In 2023, the provincial and federal governments will spend more than $1 billion to combat the toxic drug supply via drug-checking service, ‘safe’ consumption sites and prescriptions for addicts..More drugs are on the way. Governments in both Canada and the US are conducting clinical trials on psilocybin — the active ingredient in magic mushrooms — ketamine, and even ecstasy, otherwise known as ‘Molly’ or MDMA. .In an investor presentation on its website, the company identified a $360 billion market for illicit drugs worldwide, including $3.2 billion in BC alone for “safely supplied cocaine.”.Specifically, with respect to coke itself, the company sees a $50 billion market for ‘energy drinks’ — Coca-Cola, the original cocaine infused energy drink only nets $43 billion — $275 billion for ‘functional foods’ and a whopping $382 billion for pharmaceuticals..By contrast, Canadians bought about $11 billion worth of cannabis — in all its forms — in 2022..Markets weren’t exactly impressed. After hitting the market at 37 cents on Tuesday — substantially less than a ‘point’ on the sidewalk — the company’s shares promptly lost more than half their value and were trading at 18 cents on Wednesday morning.
