Tilray CEO sees marijuana legalization in America ‘over the next 18 to 24 months’ – Cannabis Business Executive

Tilray CEO Irwin Simon expects marijuana legalization in the U.S. to happen within the next two years.

Citing the recent legislative push to end the federal prohibition of marijuana, “I see over the next 18-to-24 months that cannabis in some format will have legalization,” Simon told Yahoo Finance Live (video above), later adding: “Trust me: When legalization does happen, we will be ready… to be a part of it.”

The Canadian cannabis company — listed on both the Nasdaq (TLRY) and the Toronto Stock Exchange (TLRY.TO) — currently has around 14% market share in the medical and adult recreational use cannabis market in Canada, Simon noted, with an objective to reach 30%.

And while “we don’t to anything in cannabis today in the U.S.” due to the federal prohibition, Simon said, Tilray is preparing for the future ability to further enter the American market.

“As we look at what companies are out there,” Simon said, “do we look at having options on them to buy at once the legalization happens? Do we have some type of relationship with them? The answer is Yes, and that will give us the opportunity to be a player in the U.S. once legalization does happen.” [Read More @ Yahoo]