This fall, Canada will become the second country in the world (and the first G7 nation) to legalize marijuana nationally.
The Cannabis Act comes into force on October 17, 2018, and will outline legal obligations for cannabis use and production in Canada. The Cannabis Act includes rules and regulations related to personal cultivation, product sale, medical marijuana, workplace safety, and industrial hemp.
Canada has one of the world’s highest levels of cannabis use, as per Government of Canada statistics. In 2015, roughly 21 per cent of youth and 30 per cent of young adults reported using marijuana within the previous year.
With the opening of this potentially busy sector comes opportunities for business investment, particularly in industrial equipment. In the near term, government, health, and industry representatives are fine-tuning certain details, such as:
- Where to buy
- Product marketing
- Rules regarding event sponsorship
- Medical marijuana insurance coverage
- Traveling with cannabis (and other border issues)
The team at Grow Trade Consulting will be monitoring developments in this sector, and will post regular updates as they become available. In the near term, we urge readers and anyone with an interest in this sector to understand the Cannabis Act and stay up-to-date on developments within Canada’s marijuana sector.
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