Pot to be legal in Canada:
It will happen in three months.
The official date is Wednesday, October 17.
That’s the date Canadian will be allowed to smoke pot legally in Canada.
The long-awaited date was announced by Prime Minister Trudeau.
And a lot of folks in Canada are eagerly waiting for that date to arrive.
Pot smokers finally will be able to enjoy one of their favourite past times without fear of being hassled by the police.
The business sector is salivating as it is ready to rake in all that cash from selling its pot products to consumers.
And the federal and provincial government’s will be joyful as the taxes they will reap will be enormous.
Canadians are expected to be spending more on pot than on liquor.
The Canadian Imperial Bank of Commerce predicts the pot market in Canada will be worth $6.5 billion in sales by 2020.
And the market will grow rapidly.
Statistics Canada data shows pot consumption has grown consistently by about five per cent a year since the 1960s.
And the weed market will change Canada.
And the race is on to bring new products to market all with weed in it that will appeal to non-pot smokers..
And the market is expected to be worth hundreds of millions of dollars.
Research indicates a lot of Canadians are craving new pot products.
And everyone wants a piece of the pot ranging from the small ma and pa operations to major corporations such as Shoppers Drug Mart.
And marijuana companies are in the big business league now.
Bloomberg, a financial data and information company says that 84 public companies – associated with the marijuana sector in one shape or another – are trading on Canadian stock exchanges and are worth $37 billion (U.S.).
The biggest one is Canopy Growth Corp.
A year ago it was worth $1 billion. Today it is worth more than $6 billion.
“We’re in full expansion mode,” Canopy Senior Vice-President and Managing Director Rade Kovacevic told CBC News in an interview.
The company has added three million square feet of greenhouse capacity this year, and expanded into a number of other provinces.