Colorado Marijuana Companies Set To Profit From Legalization In Canada

DENVER (CBS4) -- It's a scene reminiscent of Colorado in 2014 -- People across Canada lined up outside pot shops Wednesday morning. Recreational marijuana is now legal there countrywide.

For established businesses here in Colorado, it could be the beginning of a gold rush.

When Colorado legalized marijuana, Mark Grindeland invested heavily into products that look more like they belong on the shelves of a Whole Foods than a marijuana dispensary -- from concentrates to chocolates and even luxury spa accessories.

He's the CEO of Coda Signature, a Trinadad-based operation that's innovation has pushed the limits of marijuana use even before the future of the drug seemed sustainable.

"People wondered would bad things happen... and really bad things didn't happen," he said.

Canada won't sell infused products for a year, but when they do Canadian investors may buy in instead of grow companies from the ground up to immediately serve a market the size of California.

On Monday, a Canadian firm bought the Evergreen-based infuser Ebbu, which will soon be selling marijuana beer.

Coda Signature is looking for ways to produce in Canada as well, where federal laws have told the marijuana industry that it will be safe to do business indefinitely.

Marijuana industry investors say they believe after the mid-term elections the U.S. will have to address a more broad marijuana policy.