Cannabis Governance: Winning at Cannabis

Winning in the cannabis business involves more than just turning a profit and meeting the minimum regulatory requirements.  Good corporate governance is essential for winning in the cannabis space.

Irresponsible use of legal cannabis by a few is inevitable and may result in harm to society.  The manner in which cannabis companies respond to such incidents, and their level of participation in resolving those issues will determine the future of the industry in Canada.  Transparency, unquestionable accountability, and corporate social responsibility are vital in removing the stigma associated with cannabis and securing the longevity of the industry.

Shelley Albert, Director, AG Governance Consultants

Cannabis Governance a MUST, Not an Option

Recreational cannabis will be legal in Canada in less than a week. The next step for cannabis companies is to protect their investment by maintaining their license and reputation through good governance practices.  

As the general population adapts to new norms surrounding a controversial industry, cannabis insiders should be taking pre-emptive measures to gain and maintain Canadians’ confidence that a legal cannabis industry will be a net benefit to society.  Going above and beyond in terms of good corporate governance will help to elevate the industry’s standing when it comes to credibility and accountability.  Proper governance will also alleviate the government’s need to micro manage the industry on a continuous basis. 

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Shelley Albert, Director, AG Governance Consultants

Cannabis Governance: Maintaining Investor Confidence

Good corporate governance is essential in order for cannabis companies to weather the extreme volatility surrounding cannabis stocks in the capital markets.  As the cannabis industry experience explosive growth and the investor base morphs from retail to institutional, the pressure to have proper governance infrastructure in place will intensify.  Institutional investors demand independence, transparency, and accountability from Boards and at times take action to bring such demands to fruition.  Having a proper governance structure in place helps to ward off disruptions by activist investors.  The winners in the cannabis industry will be those that are able to put systems and processes in place that garner the support and confidence of both retail and institutional investors.

Shelley Albert, Director, AG Governance Consultants