Former B.C. Premier Mike Harcourt poses for a photo at the Fairmont Empress on Friday, May 25, 2018. Harcourt forecasts a gold rush, boom and bust period, over next year or two in the medicinal marijuana industry. THE CANADIAN PRESS/Dirk Meissner

Former B.C. premier says pot industry about to enter Wild West

Mike Harcourt says Canada is about to enter a new gold rush with many dreaming of striking it rich

Canada is about to enter a new gold rush with many dreaming of striking it rich in the marijuana industry, says former British Columbia premier Mike Harcourt, who has staked his own claim in a medicinal marijuana company.

But Harcourt said Friday there will be plenty of losers during the rush as qualified and unqualified entrepreneurs search for marijuana wealth.

Harcourt, 75, invoked the images of past gold-fever eras during a keynote address about marijuana therapy at the annual B.C. Pharmacy Association gathering in Victoria. He mentioned the once thriving B.C. gold-boom town of Barkerville and the Klondike gold rush that sent thousands of people to Yukon during the 1890s.

“We’re in for a wild ride for the next couple of years,” said Harcourt. “The shakedown is going to happen. There’s going to be winners and losers.”

Harcourt said professional groups like pharmacists, who have expertise in dispensing quality products, will be in the forefront of the marijuana industry once recreational pot use becomes legal.

“The issue of assuring quality control, every time, is going to be the key,” he said. “The key people in this industry are going to have to really lead the charge.”

But Harcourt said the industry can’t ignore the reality that it will be competing with organized crime groups that have long-standing black market links to marijuana. He said cannabis is believed to be the largest agricultural crop in B.C., valued at $6 billion annually.

“That’s not going to go away quickly or easily,” said Harcourt.

In a 2016 report the Cannabis Growers of Canada put the annual value of marijuana sales in B.C. at about $4 billion on the low end and up to $7 billion on the high end. A 2004 Fraser Institute report estimated the value of B.C.’s annual marijuana crop at $7.1 billion.

The former premier said he has become a backer of medicinal marijuana and is the board chairman at True Leaf Medicine Inc., located in B.C.’s north Okanagan. The company is building an indoor marijuana growing warehouse and research facility that covers more than 2,300 square metres.

“We’re going to develop medicinal cannabis products as scientifically as possible,” Harcourt said. “Getting high is not our focus. It’s get well.”

Medicinal marijuana can be used for treatment of pain, anxiety and Crohn’s disease, he said. Harcourt said he plans to volunteer for tests of the medicinal marijuana products developed by the company.

In 2002, Harcourt broke his neck in a six-metre fall off the deck at his Pender Island cottage. He went through a lengthy recovery, and still has some paralysis. While Harcourt regained much of his mobility, he continues to walk with a cane.

“I’m going to try and use medicinal cannabis and make myself a guinea pig in our own company to deal with pain management,” he said in an interview.

“I think it will help with the paralysis and the stiffness in my hamstrings and around my gut, and some of the stiffness in my extremities from the paralysis in my fingers and the bottom of my feet and my toes.”

Harcourt was the mayor of Vancouver for six years before moving to provincial politics and served as premier from 1991 to 1996.

He is not the only former politician to support the marijuana industry. Former B.C. health minister Terry Lake and federal cabinet minister Julian Fantino, a one-time Toronto police chief, are now involved with medical marijuana companies.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Ladysmith youth take to field Victoria HarbourCats

Ladysmith’s boys and girls of summer took to the field with a… Continue reading

Marijuana to be legal in Canada Oct. 17: Trudeau

Prime Minister made the announcement during question period in the House of Commons

Federal government announces $6.3M for Nanaimo port’s vehicle processing centre

Minister of Transport makes announcement in Nanaimo on Wednesday

More than 150 tremors hit Vancouver Island in last 24 hours

Seismologists monitor to see if pressure will be added to major fault

Closure of St. Joseph’s School in Chemainus a trying time for staff, students

Enrollment numbers fall short, resulting in the decision no one wanted

In reversal, Trump signs executive order to stop family separation

President had been wrongly insisting he had no choice but to separate families apprehended at border

50 new fires sparked in B.C. after lightning strikes across province

Similar conditions seen at the beginning of 2017 wildfire season

B.C. woman graduates high school at age 92

Nanaimo’s Joan Deebank the oldest high school graduate ever in B.C., as far as ministry can confirm

B.C. Appeal Court rules lottery winner must be paid back $600,000 loan

Enone Rosas won $4.1 million in a lottery in 2007 and loaned a portion to a friend

B.C. man surprised after used needle falls from sky

A Vernon resident said a syringe fell out of the sky and landed at his feet

Liquor review finds issues with B.C. wholesale monopoly

Report calls for ‘conflict of interest’ in system to be fixed

Police look for driver of blue Jeep who may have helped at fatal crash

A 19-year-old girl was killed in a crash near Delta on June 2

Conservationists, industry react to fish farm provisions

New provincial regulations to take effect by 2022

B.C. ‘will be ready’ for marijuana legalization

Public Safety Minister Mike Farnworth says some stores open by Oct. 17

Most Read