Here's What Legalization Means for Cannabis Earnings This Quarter

Doug Ford

Canada becomes second country in the world to legalise cannabis

"I came out tonight to be the first person in Canada to purchase the first legal gram of recreational cannabis, to help see the end of prohibition in Canada finally", Power said.

"I don't need to be a criminal anymore, and that's a great feeling", said MacIsaac, who in 2001 had been arrested for possession in Saskatchewan. I'm not cold. It's freezing outside but I am not cold.

Experts say Canada's legalization is going to change the global conversation on drug policy. Adam Bierman, the CEO MedMen, the largest United States cannabis retailer, told Business Insider in an interview. We're doing it because we know it's not good for our children.

Canada is only the second nation after Uruguay to legalise the drug, although countries such as Portugal have decriminalised it - meaning those caught with the drug face civil punishment, such as a fine.

Officials in Nova Scotia and Manitoba said they won't have a large selection, at least not on the first day, CNN affiliate CBC News reported.

Mr Trudeau has previously admitted to smoking pot five or six times in his life, including at a dinner party with friends after being elected to parliament.

California, the largest legal market in the USA, earlier this month became the first state with a law mandating expungement of criminal convictions for marijuana-related offenses that no are longer illegal.

"It was three years ago Justin Trudeau campaigned on legalizing cannabis", Ford said during a speech. Around 4.9 million already smoke.

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That's ultimately going to reflect across "Big Weed's" bottom lines, and as one who stresses the importance of financials, I couldn't be happier.

At the very front, Becky Prete from Kelowna told CTV News she was surprised to have beaten everyone else to the store when she arrived around 6 a.m.

The legal age for cannabis is 19 years old and older.

Even without any brick and mortar stores, Ontarians could still buy cannabis as the provincial government's retail website appeared to be operating smoothly Wednesday morning with only a few sizes of certain products sold out by the early afternoon. Rules for edibles are also still a year away.

To meet demand, hundreds of growers have been licensed, some taking over horticulture and floriculture greenhouses.

For now, Canada's biggest cannabis producers are rapidly scaling up and signing deals to capitalize on the fervor around legalization.

But it's also a way for the Canadian government to earn tax revenues - and the cannabis business is booming, generating interest from investors the world over.

Ralph Goodale (left to right), Minister of Public Safety and Emergency Preparedness, Ginette Petitpas Taylor, Minister of Health, Jody Wilson-Raybould, Minister of Justice and Attorney General of Canada, and Bill Blair, Minister of Border Security and Organized Crime Reduction, attend a news conference on the Cannabis Act in Ottawa, Oct.17, 2018.

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