Canadian Cannabis - LEGAL

CANNABIS Weed the North

Starting today (after 95 years of prohibition), Canada will be the first G7 nation to legalize recreational marijuana. And since we know you've been eyeing flights to Montreal for some time, let's dive in. The details The new federal law will offer a broad regulatory framework, but Canada's 13 provinces and territories will set some of their own rules. Some specs... The legal age for marijuana use will be 19 in most provinces. Recreational users can possess 30 grams of marijuana. Medical users can carry 150 grams. Some terminology: Canada's not only decriminalizing weed, but also taxing, regulating, and monitoring the industry's growth, distribution, and sale. That means Canadian pot firms can use traditional banks, trade stocks, and even sponsor medical studies. Businesses are taking advantage Canadians could start spending their Saturday afternoons on "cannabis tours." Or how about a romantic getaway at a marijuana-friendly "bud-and-breakfast"? But patience is key. In Ontario, weed will only be available online at a government-run website...for now. And cannabis-infused edibles likely won't be allowed until next year throughout the country. That doesn't mean vendors aren't getting ready... Under-the-radar cannabis lounges offer both places to smoke and classes on growing your own marijuana (is Prof. Snoop a tough grader?). Per the NYT, "Cannabis-infused catering has gone so mainstream that...Restaurants Canada is hosting a seminar on it." But how much will really change? Maybe there's a reason everyone in Canada is known for being so friendly. Canada's national census bureau found that 42.5% of Canadians have tried marijuana before, and 16% used it in the last three months. So the biggest impact may be felt in the business world. CIBC analysts said the Canadian weed industry will reach $6.5 billion in retail sales by 2020. One final stat: The Canadian Securities Exchange (a less regulated, more obscure exchange) completed C$1.4 billion in equity raises in the first half of this year. Almost C$1 billion of that came from cannabis companies alone.