With the recent election in Canada pointing to major changes ahead in cannabis laws for Canada, industry participants are beginning to envision what lies ahead. On a panel at a conference in Denver last week, several of the CEOs of companies licensed by Health Canada’s medical cannabis program suggested that there could be a harmonization of the highly regulated supply-chain with the currently illegal dispensary system that operates in Vancouver primarily. That panel included Adam Greenblatt, who runs Santé Cannabis in Montreal, who is quoted in this CBC News report:
Trudeau has already said he’s not comfortable with marijuana being sold at local corner stores, stressing that any changes would need to make it more difficult for minors to get their hands on the drug.
Adam Greenblatt, co-founder of Santé Cannabis, Quebec’s first medical marijuana clinic, envisions a future with regulated outlets set up around Montreal where adults can go in, show ID and “buy any kind of marijuana product they want.”
Greenblatt said many of the changes will likely vary from province to province, just like the legal drinking age.
Similarly, it will likely be up to the provinces to determine whether the sale of marijuana will be done through a provincial Crown corporation, as is the case for wine and spirits in Quebec, or through private businesses, as is the case for alcohol in Alberta, he said.
It’s not clear if the MMPR system will serve as the backbone for a regulated market that permits sale of cannabis to adults, but investors certainly seem to be factoring in that possibility. Publicly-traded stocks in the sector, including Aphria (APH), Canopy Growth (CGC), Mettrum (MT) and OrganiGram (OGI) have rallied substantially in October as trading volumes have swelled.
Read Benjamin Shingler’s and Jaela Bernstien’s “How legalized marijuana could change Canadian cities”: http://www.cbc.ca/news/canada/montreal/legalized-marijuana-justin-trudeau-cities-1.3282370
Are you a cannabis industry thought leader and want to be heard? Let us know your story.