The future of the cannabis industry will be up for discussion at the B2B Cannabis Conference in Leamington on Tuesday.
Guest speakers and panelist representing scientists, producers, and financial institutions with experience in the medical marijuana industry will be sharing what they've learned that can be applied to the developing recreational market.
One of those speakers will be WFCU VP of Commercial Services David Woodfull. He says transitioning into the recreational market will have its challenges, but the credit union has gone down that road before.
"We've been lending to Aphria of course, it's a public company so I can say that. As well as other medical marijuana licenced producers in Ontario," he says. "The WFCU is actually been in the business for quite a while commercially."
Kingsville has been bombarded with zoning requests to grow pot, something Woodruff isn't surprised by at all.
Licencing is required to receive financing, but he says it hasn't stopped people from enquiring.
"World class greenhouse industry in Leamington and Kingsville quite a big demand for greenhouse builds out there at the moment, it's really become exponential in terms of the growth out there," says Woodfull. "We've seen lots and lots of requests for financing of greenhouse builds, certainly no end in sight."
The retail market isn't expected to develop until spring of next year. He says the WFCU has been playing it safe until legislation becomes more clear.
"Until the retail side sorts itself out, I believe you'll see mostly financial institutions will be careful," he says. "For now we're concentrated on the licenced producer, most of which are still catering to the medical side of the market."
The WE Cann B2B Cannabis Conference begins at 7:30am Tuesday at the Roma Club of Leamington.
Tickets for the event are just over $282.