Canada approves recreational use of marijuana

As the first major economy to fully legalize cannabis, Canada’s regulatory rollout will be closely watched by some other nations considering the same path – as well as by global investors, who have already poured billions into Canadian marijuana firms.

Canadian marijuana companies like Canopy Growth, Aphria, Horizons Marijuana Life Sciences ETF as well as Aurora Cannabis have been at the center of investor frenzy surrounding attempts to legalize marijuana for recreational use nationwide.

Legalization has already been delayed via the government’s initially planned July launch.

While production of cannabis is actually regulated by the federal government, provinces as well as cities have more powers over retail sales either through private or government-owned stores.

“I’m feeling just great,” CBC News quoted Tony Dean, who sponsored the bill inside Senate, as saying. “The end of 0 years of prohibition. Transformative social policy, I think. A brave move on the part of the government.”

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