Canada May Be Fast-Tracking Recreational Marijuana Legalization

Canadian Prime Minister Justin Trudeau’s new administration may be taking a quicker approach to legalizing recreational cannabis nationwide than previously thought.

The country’s minister of public safety told the Canadian broadcaster CBC that officials will soon create a task force comprised of representatives from the federal, provincial and municipal governments to discuss legalization.

“We’ll have a detailed announcement (on the task force) coming in the next several weeks,” the minister, Ralph Goodale, said.

Noel Atkinson, a research analyst at Clarus Securities in Canada, told the firm’s clients in a note that the comments are a sign “the federal government intends to move forward quickly with legalization of recreational marijuana,” according to Cantech Letter.

He added that this is great news for publicly traded Canadian cannabis companies.

“We believe the licensed producers will see their stock prices rise once that formal announcement occurs in the next several weeks, as the licensed producers are positioned to be the primary wholesale suppliers to a government-regulated retail network for recreational marijuana,” Atkinson said.

2 comments on “Canada May Be Fast-Tracking Recreational Marijuana Legalization
  1. William on

    If you people really want to help about marijuana legalization in Canada;
    The Petition is open for signature until June 9, 2016
    This is a federal petition for The Parlement of Ottawa.
    We have reached 17 000 signatures;
    LegalizePetition.ca or https://petitions.parl.gc.ca/en/Petition/Details?Petition=e-18
    More signatures we have, more important will be the petition.
    Now the petition is standing at the second most important petition. We need more signatures to keep it at the second place, if people keep signing It will be the most important petition from at least May 7 or May 17 and that untill June 9.
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    Reply

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