Canada Pot Stocks Surge After Report of Legalization Date

Mar 28, 2017, 00:28
Canada Pot Stocks Surge After Report of Legalization Date

Prime Minister Justin Trudeau's promise to legalise recreational marijuana has fuelled investment and speculation in the cannabis sector.

Former Toronto Police Chief Bill Blair briefed the Liberal caucus over the weekend about the rollout plan.

"The governing Liberals used last year's 4/20 celebrations - festivals held annually across the country in which marijuana enthusiasts publicly light up - to announce that they would table their legislation this spring".

The national age limit to buy marijuana will be 18, but provinces could set a higher limit. The legislation also comes with a home cultivation provision, one that will allow Canadians to grow up to four plants on their property for personal use.

In a recent poll, 51% of Canadians said they supported legalizing marijuana, and 33% said they opposed it.

The plan calls for the Canadian federal government to maintain "safety" standards for the drug and to license producers.

"Until we have a framework to control and regulate marijuana, the current laws apply", he said in a March 1 speech on Vancouver Island. "We haven't changed the laws". Yes, we got a clear mandate to do that.

Earlier this month, Saskatchewan's justice minister said his provincial government continues to have "grave" concerns about legalisation.

"The fact is that if you tax it too much, as you saw with cigarettes, you end up driving things toward a black market, which will not keep Canadians safe - particularly young Canadians", Trudeau said in December 2015.

The point was underscored days later as police carried out raids on more a dozen marijuana dispensaries across the country, laying charges of possession and trafficking on almost 20 people.

And if the report is accurate, that means cannabis will be legal by Canada Day next year - that's July 1.

While marijuana users and civil libertarians have long advocated for the legalization of pot, concerns have been raised by some police and health officials.

YOU MIGHT ALSO LIKE
  • NCAA Tournament: Where To Watch Today's Sweet 16 Games

    NCAA Tournament: Where To Watch Today's Sweet 16 Games

    Michigan's run through the Big Ten Tournament and to the Sweet 16 deserves all of the praise they have received. Sunday night's game was a tale of two halves, as the Blue Devils held SC to a mere 23 points in the first half.
    Republicans face test on eve of Obamacare replacement vote

    Republicans face test on eve of Obamacare replacement vote

    Members of the hard-line House Freedom Caucus oppose it because they say it doesn't go far enough to undo Obamacare. It would provide tax credits for medical bills, though generally skimpier than the aid Obama's statute provides.
    Westminster terror attack: Vigil to take place in Trafalgar Square

    Westminster terror attack: Vigil to take place in Trafalgar Square

    Apparently, Trump Jr had taken Khan's comments out of context to make a cheap political point. "We will defeat them", she said. British Member of Parliament Wes Streeting was among numerous Britons who responded to the tweet with criticism.
  • 3-time champion Rafael Nadal beats Fernando Verdasco at Indian Wells

    3-time champion Rafael Nadal beats Fernando Verdasco at Indian Wells

    It was the first time since their first match in 2004 that Federer and Nadal had met before the quarterfinals of a tournament. Kyrgios had set up the mouthwatering clash with Federer by beating world number two Novak Djokovic 6-4, 7-6 (3) on Wednesday.
    Media Refuse to Blame Anti-Trump Protesters for Violence at Rallies

    Media Refuse to Blame Anti-Trump Protesters for Violence at Rallies

    The man had used pepper spray on a female rally organizer and was eventually apprehended by police, the newspaper reported. There was a great deal of yelling, shoving, pushing and punching, and some protesters pepper-sprayed a group of marchers.
    Plane crash-lands at South Sudan airport, several injured

    Plane crash-lands at South Sudan airport, several injured

    Video images obtained by AFP showed firefighters battling to put out the blaze as thick black smoke billowed from the aircraft. When the plane crashed, its door flew open, which allowed the pilot and rescue crews to get everybody out, Youngule said.
  • Firefighters battling four-alarm fire in California

    Firefighters battling four-alarm fire in California

    The building that burned Monday is about 5 miles (8 kilometers) northwest of the warehouse nicknamed the Ghost Ship. Firefighters rescued seven people from the building. "This building has not been right for a long time", she said.
    Pound jumps as inflation surges to 2.3%

    Pound jumps as inflation surges to 2.3%

    It is also more bad news for consumers who have already seen their purse strings squeezed with rising prices and stagnating wages. The central bank could now come under pressure to hike interest rates from their current ultra-low levels.
    Arsenal: Capable of Winning the Premier League Title?

    Arsenal: Capable of Winning the Premier League Title?

    With plenty of points to be won and lost, the title race is still very much on and Arsenal will be confident of bridging the gap. Defensively, Arsenal have improved since Shkodran Mustafi joined the club in the summer but there is still room for improvement.
  • Record US Stockpiles Keeping Oil Prices Low

    Record US Stockpiles Keeping Oil Prices Low

    Oil ministers from OPEC and some non-OPEC states meet on Sunday in Kuwait, where they are expected to discuss compliance. USA oil drillers boosted the rig count to 631 last week, the most since September 2015, Baker Hughes data show.
    MARD tells court ready to resume work if ensured security

    MARD tells court ready to resume work if ensured security

    The brutal assault on Dr Rohan Mamorkar, a resident doctor at Dhule Civil Hospital on 14 March, is what sparked this whole mess. Patients in several other government hospitals such as Lal Bahadur Sastri Hospital, Dadadev Mother and Child Hospital and G.B.
    Senators-Canadiens slated for National Hockey League  100 Classic outdoor game

    Senators-Canadiens slated for National Hockey League 100 Classic outdoor game

    The NHL 100 Classic will be played the evening of Saturday, Dec. 16 at TD Place, capping off the league's centennial celebrations. It's official: the Ottawa Senators will host the Montreal Canadiens in an outdoor National Hockey League game this December.
popular