Pubdate: Thu, 24 Jan 2013
Source: Whistler Question (CN BC)
Copyright: 2013, Whistler Printing & Publishing Ltd.
Contact:  http://www.whistlerquestion.com/
Details: http://www.mapinc.org/media/1034
Author: Brandon Barrett

REBAGLIATI LOOKS TO STRIKE GOLD IN MEDICAL MARIJUANA MARKET

In an exclusive interview, Rebagliati details his plans to establish a
government approved medical marijuana dispensary in Whistler.

Olympian Ross Rebagliati has tried to distance himself from a now
infamous incident at the 1998 Winter Games when his snowboarding gold
medal, the first ever awarded in the sport, was stripped after doping
tests found THC in his circulatory system.

His medal was eventually returned because marijuana wasn't on the
International Olympic Committee's list of banned substances, but he's
never been able to shake his association with B.C.'s biggest export.

"Over the years I've kind of downplayed it, put it on the backburner
and tried to move forward without having (marijuana) be a part of my
reputation," said the 41-year-old Rebagliati. "It's hurt me
corporately, but I've basically come to the conclusion that if you
can't beat 'em, join 'em."

The Olympian announced his preliminary plans last week to establish a
government approved medical marijuana dispensary and retail outlet in
Whistler, called Ross' Gold. The idea came from recent changes in the
states of Washington and Colorado legalizing marijuana for
recreational use and the announcement last month that Health Canada
would start phasing out its production of medical marijuana, opening
the market to companies that meet "strict security
requirements."

The idea is to treat marijuana as any other narcotic used for medical
purposes. Under the new changes, patients would be able to take their
prescription to a licensed marijuana producer.

Current regulations require patients to apply to the Marijuana Medical
Access Program. If approved, they can either grow marijuana for
personal use at home, or purchase it from a government producer. There
are currently around 26,000 people taking part in the federal program.

The professional snowboarder teamed with venture capitalist Patrick
Smyth to establish the company, called Rebagliati's Gold Inc.

"We want to get in early, establish a brand and build up the name
right now. We'll start off building revenues through retail items and
that sort of thing," said Smyth. "We don't want to sit there and wait
for licensing and all the regulatory framework to be done. We want to
get in there now."

While plans for the retail store are still in the early stages,
Rebagliati said his team is looking at "a couple places" in Whistler
to set up their flagship store, with the hopes of expanding into other
locations across Canada in the future.

"There will be a pharmaceutical component to (the store), and within
that area of the dispensary there will be retail there, so you can buy
bongs, pipes, vaporizers and things like that," said Rebagliati. "The
feel of the store is not going to be your typical head shop."

Ideally, Rebagliati hopes that his company will be positioned to serve
the general public in the event that legalization occurs, although for
the time being his company is "working 100 per cent within the
restrictions and guidelines that have been laid out with the new laws."

Ottawa plans to have the new guidelines in place by March 31 of this
year, although full implementation of the new legislation is not
expected until the spring of 2014. Rebagliati said he wants the store
to be up and running before the new laws come into effect.

Part of his goal with the dispensary is to not only help remove the
taboo sometimes associated with marijuana use, but to also promote the
plant's medicinal benefits. He also noted that the easing of medical
marijuana regulations and eventual legalization would help to take
drug revenues out of the hands of criminal organizations, which are
thought to control roughly 85 per cent of the cannabis market in B.C.,
according to provincial policing agencies.

The company has already attracted significant interest from investors
looking to stake their place in a newly emerging market, said Smyth.

"We floated the idea to a few people we know from a financial
perspective and everybody loved it," he said. "It's not like a tech
deal or something like that. Everyone knows what marijuana is and it's
not like there's not a demand for it."

Whistler Mayor Nancy Wilhelm-Morden expressed her support for the
decriminalization of marijuana at September's Union of British
Columbia Municipalities conference, a move that was echoed by many
municipal officials across the province and outgoing local Liberal MLA
Joan McIntyre.

A recent study published in the International Journal of Drug Policy
by researchers from Simon Fraser and the University of British
Columbia stated that the legalization of marijuana in the province
could generate $2.5 billion in government tax and licensing revenues
over the next five years. 
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MAP posted-by: Jo-D