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Federal Cannabis Funding

Saskatchewan cannabis nursery Mother Labs’ recent success securing 1.8 million Canadian dollars ($1.4 million) in federal funding shows how Canada’s cannabis industry can benefit from government financing at a time when capital is scarce. Public records show that cannabis business funding has been made available from a range of Canadian federal government bodies for applications including business development, expansion and research. The investment in Mother Labs was announced in late June, alongside funding to 10 other Saskatchewan businesses. Mother Labs’ government funding comes in the form of an interest-free loan meant to match funds from the company. Bourassa said the nursery has a three-year window to execute its project using the funds, followed by a five-year repayment period. The loan is interest-free as long as payments are made on time. Canadian cannabis companies in search of government funding might consider exploring Canada’s Open Government database, which lists grants and contributions from various federal departments and agencies to cannabis companies including laboratories, processors and producers. Episode 1014 The #TalkingHedge chats with Kat Glogowski, Attorney & Angel Investor...