Deals
Marijuana Is the New Gold for Mining Companies Going to Pot
- Some Canadian pot companies started in resource sector
- Rush of excitement creates ‘pile-on effect:’ PI Financial
Photographer: James MacDonald/Bloomberg
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Turns out, it may be easier to strike gold by growing green.
Just ask Jay Wilgar, a former wind power developer who started a medical marijuana company with friend Travis Kanellos after hatching the idea while lifting weights at a gym. When they began looking at ways to take their startup public, advisers suggested partnering with Newstrike Resources Inc., a Toronto-based firm that had been looking for gold in Ontario and Wyoming without much luck.