A bill to formally legalize marijuana in Canada is still expected in the near future, Bloomberg reported, but the government will “take its time” with specific regulations that will allow the rec industry to get up and running, according to a lawmaker who’s spearheading Trudeau’s legalization bid.
He pointed out several areas on which the government is focusing, including how to regulate production, testing, distribution and consumption, Bloomberg reported.
Blair declined to say whether the new adult-use system will be ready by next year or if work on it may stretch into 2019.
The shares of Canadian cannabis companies fell after Blair’s comments. Late Tuesday afternoon, Canopy Growth was down more than 7%, Aphria was off nearly 5%, and Aurora Cannabis was 7% lower.