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Could Canada Be The Next Weed Capitol Of The World?

Canada-cannabis

Canada’s marijuana program has been growing since Liberal Party won the Canadian general election in 2015 by electing Justin Trudeau as Prime Minister. This was a huge step towards legalization, the Liberal Party and Justin Trudeau have both vowed to make cannabis legalization a priority.

Currently, the cannabis industry in Canada is growing at a steady rate of 10% per month on average and now has more than 75,000 registered patients. There are also 31 federally licensed cannabis producers. These producers need to be licensed under Health Canada’s MMPR or Marihuana for Medical Purposes Regulations.

Marijuana is the most common illegal drug in Canada. The country has also just announced their plans to make recreational marijuana legal in the entire country of Canada starting in the spring of 2017.

In anticipation of legalizaion, the govenment has created a task force to help guide them in creating a legal framework for the industry. The nine member panel is being led by Ann McLellan, a former Deputy Prime Minister. Also on the panel is Paul Martin, who was a former health and justice minister.

“We have confidence that the individuals who make up the Task Force have the expertise, knowledge and credibility necessary to provide us with thoughtful advice on the design of a system of strict marijuana production, distribution, and regulated sales,” said Jody Wilson-Raybould the Minister of Justice and Attorney General of Canada.

While the task force prepares new laws to govern legal cannabis use, they are letting the public know that cannabis use, both cultivation and sale, are still illegal. Only registered patients on the medical marijuana program are legally allowed to possess and use marijuana.

53 per cent of Canadians agree marijuana should be legal

53 per cent of Canadians agree marijuana should be legal

That has not stopped investors from jumping on the $50 million in revenue the licensed medical marijuana producers have raised so far this year. The amount of investments have increased significantly in the past year, and show no signs of stopping.

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