Growth forecasts for the cannabis industry are often inflated, audacious even.
And Cann Global’s projection was right up there.
It was the final question of its first investor webcast to discuss the company’s interim financial results.
Asked where he saw the company and the industry in five years, chief executive Sholom Feldman didn’t hold back.
After acknowledging the regulatory changes that will trigger opportunities in Australia and across the globe, Feldman suggested the industry would move from a “small growth industry into a massive, accepted general industry”.
“We believe it is going to be a multi, multi-billion dollar industry all over the world so there is plenty of room for plenty of companies to become very successful,” he said.
“So where do we see ourselves in five years? Well, I’ll put it very simply, if there’s a multi, multi-billion dollar industry, I don’t see any reason why we shouldn’t be a multi-billion dollar company in five years’ time. That’s not to give investment advice, that’s just where I see it.”
After generating revenue of less than $1m in the first six months of the 2021 financial year, such lofty forecasts may seem a stretch.