Investorideas.com - Investor Ideas Podcast with Mike Gorenstein, CEO of Cronos Group (NASDAQ: $CRON, TSX-V: $CRON.V) Talking #Cannabis at #Arcview Investor Forum
Investor
Ideas Podcast with Mike Gorenstein, CEO of Cronos Group (NASDAQ: $CRON, TSX-V:
$CRON.V) Talking #Cannabis at #Arcview Investor Forum
Evolution of the Cannabis
industry and why Israel is number one
Pt. Roberts, WA; Delta, BC – May 11, 2018
(Investorideas.com Newswire) www.Investorideas.com, a global news source
covering leading sectors including marijuana and hemp stocks, releases an
exclusive podcast interview with Mike
Gorenstein, CEO of Cronos Group Inc. (NASDAQ: CRON, TSX-V: CRON).
Mike Gorenstein was at the Arcview Group Investor Pitch
Forum, at the Westin Bayshore in Vancouver, Canada from April 30th to May 2nd.
The forum brought together over 200 high-net investors with cannabis thought
leaders and companies at the forefront of the new space. Cronos was a
significant presence at the event, being the first Nasdaq-listed cannabis
company.
Hear
the full podcast: Mike Gorenstein of (NASDAQ:CRON) –Evolution of the Cannabis
industry and why Israel is still number one
A key topic at the event was the merit of treating
cannabis primarily an agricultural product or as a consumer good. Gorenstein
said that other countries, such as Colombia, are better suited for the
agricultural side as they have a more ideal climate and are more cost
effective.
“It’s an agricultural product and if you look at where
it makes sense to grow the product, climate does matter, labour costs matter
and with Colombia you will have a massive cost advantage,” he said.
Gorenstein outlined the analogous behaviour in other
markets.
“When you think of Apple, they don’t make their iPhones
in California,” he said. “If you want to be cost competitive and you still want
to get a high quality product to a consumer at a reasonable price, it is going
to be important to take advantage of different structural pros and cons of
countries and in Colombia and Latin America there is always going to be a very
strong built-in advantage based off climate.”
This complemented Cronos Group’s production and
distribution operations in Israel, which Gorenstein explained the advantages
of.
“The most important factor was the opportunities for
research and development and technology,” he said. “What ultimately will
separate the winners from the, we’ll call them not-winners, is going to be
technology and innovation. Israel’s been by far the leader in cannabis research
for decades. So for us, putting our own operation in Israel, being able to get
access to all that historical talent, knowledge and experience is huge.”
Gorenstein contrasted the cannabis landscape of Israel
with those of Canada and the United States, with Israel’s historically more
academic grounding in the sector.
“It’s very interesting because in the U.S. and Canada
you see a black market and a grey market that’ve been around for years and have
a commercial system that’s now trying to evolve and move into this legal
framework,” he said. “In Israel you actually have a bunch of scientists and
professors and that’s been the market in Israel, it’s all been research. And
now they’re trying to figure out how to become commercial.”
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