Parliament passes the Cannabis Act

23 June, 2018, 17:40 | Author: Corey Lynch
  • Legalisation of the drug was a 2015 campaign promise of Prime Minister Justin Trudeau

Prime Minister Justin Trudeau has said marijuana will become fully legalized in Canada on October 17, 2018.

The prime minister says marijuana will be legal nationwide from 17 October in a move that he hopes will take the market away from organised crime.

Trudeau administration had initially meant to have the law rolled out by July 2018, but territories and provinces requested for additional time to come up with their own rules for weed sales. They also will be allowed to cultivate up to four plants in their households and prepare products such as edibles for personal use.

The bill further expects them to purchase weed from producers licensed by the federal government, or from province/territory regulated retailers. But there have been previous suggestions that the White House may try and stem the recreational use by enforcing federal laws to override individual states. You will have to be of legal age, which is 18 or 19 years of age, depending on your province or territory.

On Wednesday, he tweeted, "It's been too easy for our kids to get marijuana - and for criminals to reap the profits".

"The overall message is, 'Yeah, Canada legalized cannabis, hooray, ' but the actual details is where there are a lot of devils", Emery said, "The civil liberties advocates, the lawyers, the people who represent the marginalized Indigenous, the youth, the poor - the victims of prohibition - we aren't celebrating today".

Independent Senator Tony Dean, who sponsored the bill in the upper house, said: 'We have seen in the Senate tonight a historic vote that ends 90 years of prohibition of cannabis in this country, 90 years of needless criminalisation, 90 years of a just-say-no approach to drugs that hasn't worked'.




Bill C-24, which amends the Salaries Act to create the space for eight new ministers with full minister salaries. (OTCQB:CBWTF), WeedMD Inc. (OTCPK:WDDMF), Canopy Growth Corporation (NYSE:CGC), and several other cannabis stocks generated mid-range single-digit gains.

Aphria, Inc., and Aurora Cannabis Inc. climbed 3.6% and 3.8% respectively.

Auxly Cannabis Group Inc. But Canadians will have to wait at least a couple of months to legally buy marijuana.

Statistics Canada estimates that the marijuana market in Canada was worth C$5.7 billion ($4.28 billion) in 2017.

Finance Minister Bill Morneau has estimated Can USD 400 million in fiscal revenue, with a goal to keep prices low in order to end the black market for the drug.

For each gram of cannabis sold at or below USD 10, a Can USD 1 excise tax will be imposed, and distributed between the federal government (receiving a quarter of the funds) and the provinces.

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