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16th May 2018, 17:34

Canada’s top cannabis millionaire is a Gibraltarian holding shares worth more than £240 million

Canada’s top cannabis millionaire is a Gibraltarian, according to Bloomberg. The financial media company says Tarik Ouass owns shares worth 415.6 million Canadian dollars in MedReleaf Corporation (£240.2 million).

Mr Ouass grew up and was schooled in Gibraltar and continues to visit friends and family members on the Rock. The 39-year-old is the main shareholder in MedReleaf, which manufactures and distributes medical cannabis; it produces and sells dry cannabis, oils, and capsules. 

Vadim Soiref, who reportedly has shares worth over C$211 million (£122 million) in the company, is also resident in Gibraltar.

According to its website, MedReleaf offers “top-quality cannabis”, sourced from around the world and cultivated in Canada, for scientific research and healthcare uses. The company says it delivers premium products to the global medical market and for the adult-use recreational consumer.

Canada is preparing to legalise marijuana this summer; Canadian prime minister Justin Trudeau was elected in 2015 on a manifesto that promised to legalise the plant.

Marijuana millionaires are riding Canada’s legalization wave, says Bloomberg