It’s been a long time coming, but Canada’s Liberal government is expected to announce plans next month to legalize cannabis in the country. According to CBC News, the announcement will be made the week of April 10, and the goal will be to legalize marijuana by July 1, 2018.
Other publications have suggested that the news will be released on different dates. The Globe and Mail says it will come on April 20, or 4/20, while in a statement to Global News, Justice Minister Jody-Wilson-Raybould said that legalization will be introduced this spring, but didn’t provide a specific date.
“Our government is committed to introducing legislation this spring that would, as promised, legalize, strictly regulate, and restrict access to cannabis,” Wilson-Raybould said. “In order to meet our commitment to legalize, the legislation will need to pass through the parliamentary process in a timely fashion.”

While it may be over a year until marijuana is officially legalized, a report released last year by Canada’s Task Force on Cannabis Legalization and Regulation has already made 80 recommendations for framing legalization effectively.
Among other things, the report recommends that the federal government use licensing and production controls and enforce a minimum purchasing age of 18. Provincial governments will manage distribution and pricing, and will have the authority to set a higher minimum purchasing age.
Households will be able to grow up to four plants, says CBC News.
The news outlet’s report came the same day as the NDP met in Montreal for a leadership debate. At the event, party members criticized the Liberal government’s “promise to legalize pot,” says Global News.
“I believe in legalization,” BC MP Peter Julian was quoted as saying. “I do not believe Justin Trudeau is going to bring in the legalization of marijuana and as proof that … we are still seeing, particularly young Canadians, being criminalized by simple possession of marijuana.”

US Election 2020 and Cannabis

Investing in cannabis? Read what experts have to say about cannabis and the US Election!

Canadian cannabis stocks have performed well following the news that legalization is impending. Gainers include:
  • Canopy Growth (TSX:WEED) — up 9.11 percent at $10.79
  • Aurora Cannabis (TSXV:ACB) — up 8.33 percent at $2.48
  • Tetra Bio-Pharma (CNSX:TBP) — up 9.37 percent at $0.70
  • Emblem (TSXV:EMC) — up 4.7 percent at $2.45
  • Maple Leaf Green World (TSXV:MGW) — up 7.69 percent at $0.55

Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Maple Leaf Green World is a client of the Investing News Network. This article is not paid-for content.

Revive Therapeutics Ltd. (“Revive”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce the appointment of Dr. Joel Moody, MD, MPH, DTM&H, as a medical and clinical advisor to the Company to assist in the expansion of clinical studies in Canada and the clinical data analysis on the ongoing U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild-moderate COVID-19.

“We would like to welcome Dr. Moody as a medical and clinical advisor to our team and we look forward to his contributions in our ongoing FDA Phase 3 clinical study as well as expanding our COVID-19 studies in Canada,” said Michael Frank, CEO of Revive. “Dr. Moody’s experience in clinical epidemiology, data analysis and research are key to our FDA Phase 3 study as we gather clinical data from patients enrolled.”

Keep reading... Show less

– FinCanna Capital Corp. (CSE:CALI) (OTCQB:FNNZF), based in Vancouver, BC today announced that Andriyko Herchak, CEO, will present live at on December 3 rd .

Keep reading... Show less

First-of-its-kind trial in Canada will pave the way for expanded MDMA-assisted treatment to support patients with posttraumatic stress disorder

Keep reading... Show less

Multi-year partnership designates BioSteel as new official sports drink of Philadelphia 76ers team, Training Complex, and the presenting partner of 76ers Training Camp

BioSteel today announced a multi-year deal with the Philadelphia 76ers, making the sports hydration company the official sports drink of the team. BioSteel will also serve as a partner of the Philadelphia 76ers Training Complex, and the presenting partner for 76ers Training Camp, which begins next week.

Keep reading... Show less

Achievements with Scalability and Compatibility Pave Way for Next Phase of Advancement

Codebase Ventures Inc. (“Codebase” or the “Company”) (CSE:CODE)(FSE:C5B)(OTCQB:BKLLF) is excited to announce that the Company’s holding, Arcology, a cluster-computing powered AI blockchain ecosystem with unlimited scalability, has updated its working roadmap in response to its Testnet 1.0 results

Keep reading... Show less