Canada changed the rules on the global drug policy debate.
October 17, 2018, is the date that marijuana will be victorious in spite of history. On this date, Canada becomes the second and largest marijuana marketplace. 1/
Canada made a move to bring the black market into a regulated, tax-centric system after nearly a century of prohibition. Canadian Prime Minister, Justin Trudeau concluded that multi-billions of tax dollars that were lost, could have been used to benefit society. Squandered by ignorance and misplaced propaganda from our neighbors to the south. Indeed, his position stands in sharp contrast to the United States’, where the federal government outlaws’ marijuana while most states allow medical and recreational use for people 21 and older.
Canada’s national approach has allowed for unfettered industry banking, inter-province shipments of cannabis, online ordering, postal delivery and billions of dollars in investments; national prohibition in the United States has stifled greater industry expansion and continued to preach its “equal to heroin” noise.
This Wednesday, over 102 legal “pot shops” are expected to open across a nation of 37 million people. For now, they’ll offer dried flowers (buds), capsules, tinctures, and seeds. Sales of marijuana-infused foods and concentrates will happen next year.
The focus at the moment is production – establishing a cash crop. The government has licensed 120 growers to provide the inventory. This policy will keep marijuana prices stable, and possible lower over the longer term.
Canopy Growth Corporation (CGC) $52.57, which recently received an investment of $4 billion from Constellation Brands, whose holdings include Corona beer, Robert Mondavi wines, and Black Velvet whiskeys, is approved for 5.6 million share feet of production space across Canada. Review our August 29, 2018 article – GETTING INTO THE GAME.
Look for Canadian based cannabis public companies to move higher over the near term.
1/ Who was number one? Uruguay launched legal sales in 2017.