There is a business concept known as second-mover advantage. Essentially, it is simply learning from the mistakes of those who went before to build better, more efficient businesses.
The rise and demise of some participants in Canada’s legal cannabis industry offers a lesson for those now following in the wake of the pioneers. During the original legalisation boom it was often enough to simply hold a grower’s licence to enhance value significantly.
Anyone who is old enough to remember the dot-com boom will see parallels and understand the irrational exuberance. They will also remember that the tech sector came back bigger, better and stronger.
For Carl Esprey, chief executive of Botanical Holdings, the plan is to benefit from lessons learned from those companies who went before – and have, for want of a better term, an ‘oven-ready’ solution before the business is listed on the Aquis Exchange in October. A pilot-scale grow of 1,000 plants is imminent at the company’s site in Lesotho, where construction – stalled briefly by local COVID restrictions – should be complete in the next quarter, prior to the company’s IPO.
Read more at proactiveinvestors.co.uk