Khiron Life Sciences Corp. (TSXV:KHRN), (OTCQB: KHRNF) Director Vincente Fox joined the Midas Letter to touch on the progress made over a decade of cannabis advocacy, specifically in Mexico. Fox served as the 55th President of Mexico between December 2000 and November 2006, beginning a path towards medical cannabis legalization. According to Fox, the current Mexican government is very liberal in its stance towards cannabis and is expected to introduce further medical cannabis regulations in four to eight weeks. Fox expects recreational cannabis regulations in Mexico to be introduced within the next year.
While the presence of drug cartels in Mexico has created cause for concern over cannabis legalization, the legalization process in Mexico is expected to be similar to that in Colombia. According to Fox, the cartels operating in the area have already diversified their operations to the point that they can afford to lose their profits from cannabis production without major consequences.
“Those that participated in the old illegal industry, at the very end they join in and become legal. Now they are businessmen and salesmen, owners of small stores. That is the process. The new legal industry dominates over the old criminal industry,” said Fox.
To watch the full interview, click here.