Thursday, 19 July, 2018

Canada passes legislation legalizing marijuana, sales expected within 12 weeks

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Elsie Buchanan | 24 June, 2018, 19:13

Canada's upper house of parliament yesterday approved a revised bill to legalise recreational marijuana, setting the stage for the country to become the first Group of Seven nation to legalise cannabis.

"One of the things that we heard very clearly from the provinces is that they need a certain amount of time to get their bricks-and-mortar stores and their online sales ready". Indeed, most experts have said it will take time to displace organized crime.

Canada is the second country in the world-the first of the G-7-to fully legalize marijuana in a manner similar to alcohol and tobacco.

Senator Tony Dean, who sponsored the Cannabis Act, called the legislation's passing "transformative social policy". Trina Fraser, a cannabis business specialist at Brazeau Seller Law, said New Brunswick is almost ready to start stocking its store shelves, for example, while B.C. hasn't even started accepting applications for licenses to operate private stores.

There are still questions surrounding how police will test motorists suspected of driving under the influence, what to do about those with prior marijuana convictions and just how the rules governing home cultivation will work.

OPEC agrees to increase oil output 1 million barrels a day
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This comes in response to opposition from Quebec and Manitoba who want to ban homegrown plants in their respective provinces. "If individuals do not agree with that law then they can challenge that law". While the federal government had previously estimated eight to 12 weeks would be needed between passage of the bill and legalization, Trudeau said that timeline was too aggressive.

"Until the actual coming into force date happens and the law is changed, there's no point looking at pardons while the old law is on the books", he said.

The Canadian federal government had originally set the goal of having the recreational pot market open by July 1 of this year, but that date had obviously been pushed back. The overall North American index, which includes United States stocks, was up 2.3%.

As a result, the attempts to legalize cannibas for recreational use have caused Canadian marijuana companies like Canopy Growth Corp., Aphria Inc., and Aurora Cannabis Inc.to become the center of investor frenzy. By comparison, the minimum consumption age for marijuana in all the US states that have legalized recreational use is 21, corresponding to the higher drinking age.

The industry is also expected to take a different shape than the way it is now set up in nine American states where recreational marijuana is legal. On the opposite end of the spectrum, marijuana availability will only be provided in 40 state-run shops in Ontario.

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