In an historic decision today, the Canadian government has legalized sale of marijuana across the nation this Wednesday. With this Canada has become the 1st among the G7 countries and second country worldwide after Uruguay to officially legalized marijuana for all adults. Uruguay in December 2013, became the first country to legalize the production, sale and consumption of marijuana.
The legal weed will be available to purchase both online as well as through the retail stores but there are certain rules that need to be followed to sale as well as purchase marijuana which vary from province to province.
According to the reports, Prime Minister Justin Trudeau had earlier promised in a campaign to legalize marijuana in the country which was today fulfilled in the form of Bill C-45, also called the Cannabis Act. The prime minister also took on micro-blogging site Twitter to announce the same and tweeted:
“It’s been too easy for our kids to get marijuana – and for criminals to reap the profits. Today, we change that. Our plan to legalize & regulate marijuana just passed the Senate. #PromiseKept”
It’s been too easy for our kids to get marijuana – and for criminals to reap the profits. Today, we change that. Our plan to legalize & regulate marijuana just passed the Senate. #PromiseKept
— Justin Trudeau (@JustinTrudeau) June 20, 2018
The bill has been issued in public health interest with an objective to make the accessibility of marijuana more difficult for teenagers and grind down the black market profits. However, after this historic decision, the eyes of global financial community is eagerly looking at the move as how it works for Canada. In addition to that, financial markets and investors are looking to Canada as a forerunner to watch if other countries will also legalize the weed after this and what are the business opportunities that may open after this step.
Though, the bill now legalizes marijuana for adults but have also put some guidelines which has been left to each province to set the age limit for consumption of marijuanaas as well as the selling process. However, according to the bill that passed the Senate, adults of Canada who are at least 18 years old will be allowed to carry and share up to 30 grams of marijuana in legally in public (however, the age limit may vary province to province). In addition to that, the bill also allows the adult citizens to cultivate up to four plants in their house premises and make marijuana products such as edibles but only for personal use.
Some provinces, like Ontario will not open the storefronts to purchase the weed as for now but until the final decision of Ontario government comes, the Ontarian people can buy the drug online.
However, people aged over 18 years in provinces like Alberta can purchase cannabis in government run stores on, will have cannabis available in provincially-run stores on Wednesday for all adults over the age of 18. Quebec is currently planning to raise the age limit of legal marijuana consumption to 21 years. Also, as for now, all provinces will only have marijuana flower available for sale and purchase.
However, marijuana in form of Vaporizers, edibles, and beverages are expected to be made legal later next year.
