The Best Pick-and-Shovel Plays for the $10 Billion Marijuana Industry (Part 2)

Every Moment Counts: Canada just ended 90 years of marijuana prohibition - and early investors who strike now have the chance to mint millions. Even a few hours' delay could cost you thousands in potential gains. Learn more...

Last week, I shared the best pick-and-shovel plays in the industry, providing insight from four cannabis experts on how to play this $10 billion market with pick-and-shovel plays. This strategy lets investors potentially profit without having to own a single company that touches a marijuana plant.

And as promised, I'm going to conclude our two-part series with more insight from top marijuana experts.

cannabis jar

These aren't just the opinions of bloggers.

They are presidents and high-level executives who have their pulse on the marijuana industry.

And by knowing what they're watching, you'll know where to look for the best new profit opportunities in the $10 billion marijuana industry...

The Best Plays on the Cannabis Industry

The experts I spoke with highlighted how manufacturing and packaging industries are set to gain with the coming marijuana boom.

And they each framed this industry as an essential pick-and-shovel play to consider...

Mr. Sasha Kadey, CMO of Greenlane, the leading distributor of premium brands in the burgeoning head shop, smoke shop, and dispensary channels in North America. Founded in 2005, Greenlane has over 100 employees with operations in five cities throughout the United States and Canada and has become one of the largest vaporizer and smoking accessory distributors in the world:

"For those wary of investing in cannabis but eager to reap the rewards of the booming 'Green Rush,' ancillary companies may present a unique opportunity to cash in with less risk. There are a number of established and newcomer businesses that provide key products and services for the industry but don't actually touch the plant. Betting on these companies is akin to investing in the companies that sold picks and shovels during the Gold Rush. It also mitigates the competitive risk because, on the cultivation and retail side, there are sure to be winners and losers. But they all rely on the same key products and services. Child-resistant packaging and smoking accessories, horticultural supplies like lights and hydroponics equipment, and compliance software all represent exciting opportunities to invest with reduced risk."

Derek Riedle, publisher of Civilized, a premium media and lifestyle brand that expands modern cannabis culture, reflecting the millions of motivated, productive adults who choose to have cannabis as a part of their lives:

"The people who profited most during the Gold Rush are the ones who sold the shovels. The same will prove true in legal states and in Canada. I predict that cannabis accessories and media are the ancillary products that will have the biggest returns."

Paul Gelardi, president of Hightech Extracts, an engineering company developing systems for the manufacturing of extract-based products:

"We recommend investing in businesses that make, sell, and/or distribute cannabis 'shovels'. To us, cannabis shovels are state-of-the-art cannabis-manufacturing technologies and systems. There are myriad of technology and equipment opportunities from planting to packaging. We especially recommend manufacturing technologies and systems that can be used for more than just cannabis and hemp. Hightech Extracts' focus is creating complete solutions centered around extract-manufacturing systems that employ SuperCritical CO2 and CO2 Expanded Ethanol. A complete system includes material preparation, SuperCritical Fluid extraction, secondary processing, and packaging. All our technologies and systems can be employed for the extraction of essential oils and natural compounds from a variety of materials. Increasingly, food additives, nutraceuticals, pharmaceuticals, and cosmetics will be based on nature-derived essential oils and compounds."

This was great advice, and I'm glad I was able to provide Money Morning readers with exclusive insight from top executives in the marijuana industry.

But if you want to skip the picks and shovels and invest directly in the explosive marijuana industry, there's no better time to do it...

BREAKING: Canada's New Law May Have Just Handed You a Shot at Millions

[mmpazkzone name="in-story" network="9794" site="307044" id="137008" type="4"]

On June 19, Canada wrote itself into marijuana history - and this unprecedented decision is expected to unleash the profit opportunity of a lifetime.

After both the House of Commons and the Senate approved the Cannabis Act, 90 years of prohibition has officially come to an end.

This means the early investors who strike now have the chance to mint millions.

But even a few hours' delay could cost you thousands in potential gains.

Click here for all the details.

Follow Money Morning on Facebook, Twitter, and LinkedIn.