Canadian firms eye Colombia's marijuana market

With Canada’s legalization of cannabis drawing closer, a number of cannabis companies with operations there hope to be pioneers in the emerging market – despite the risks.

CBC News reported that at least seven licensed Canadian cannabis producers have opened locations in Colombia, investing more than $100 million in the country.

Although stigmatized by decades of political instability and drug conflicts – which continue to this day – cannabis producers see a lot of potential in Colombia, and they hope to transform the country into a hub for cultivating medical marijuana.