OH, CANNABIS! Canada to Legalize Rec Weed by Mid-2018

NA-POT-LEGALIZING20 TORONTO, ON - APRIL 20 - 420 celebrations at Yonge Dundas square. Health Minister Jane Philpott says Canada will introduce legislation in the spring of next year to begin the process of legalizing and regulating marijuana. April 20, 2016. Randy Risling/Toronto Star

It’s been more than a year since the hype surrounding Prime Minister Justin Trudeau’s promise to introduce marijuana legislation that would legalize recreational cannabis for adults nationwide, however, unlike the current American political climate, Canada’s government seems to be making good on it’s promise.

News outlet Canadian Broadcasting Corporation reports that Trudeau’s administration plans to release legislation on April 10, which would legalize marijuana by July 1, 2018.

However, government spokesperson David Taylor declined to comment on the date the CBC is reporting, defaulting only to Trudeau’s original promise to release the legislation by spring.

In anticipation of the move, Canadian cannabis stocks are soaring. Analysts Canaccord Genunity Group Inc. have estimated that sales could jump to C$6 billion by 2021.

The Canadian government is expected to retain control over the production of marijuana while provinces will likely control distribution and retail sales.

Posted in News on March, 2017