Prominent North American legal marijuana industry lobbyist Michael Sautman will be in Sydney early next month to start making his case to regulators after being appointed chief executive of a yet-to-be-named cannabis group that is poised to float on the Australian sharemarket.

Mr Sautman is hopeful that in the future Australians will be able to legally tuck into pot-flavoured cereal for breakfast, eat a hemp-based faux steak for dinner, and smoke a joint in the evening. And he wants to be able to sell them all of those products and more through a suite of cannabis businesses being assembled in a reverse takeover of failing ASX-listed mining hopeful Capital Mining.

"I look forward to working with a range of regulators, legislators, scientists and medical practitioners to help develop a framework for the medical cannabis industry to operate in Australia. This is a process we have a lot of experience in across Canada and the US and are committed to supporting the development of an industry that is safe," Mr Sautman said.

The chief executive said that he was encouraged by the recent moves in NSW to decriminalise cannabis use for terminally ill patients. Her also said a high level of illegal use of the drug in Australia indicates the considerable commercial potential, should parts of the industry be legalised.

"Australia is a country that is familiar with cannabis. Many people in Australia already use cannabis for medical purposes whether it's legal or not," Mr Sautman said.