Canopy Growth CEO Bruce Linton, left to right, provides the receipt for the first legal cannabis for recreation use sold in Canada to Nikki Rose and Ian Power at the Tweed shop on Water Street in St. John's N.L.at 12:01 am NDT on Wednesday October 17, 2018. He made the first sale to his dad.
"We went down the path we went down intentionally because there was pent-up demand from USA institutional investors for exposure to this industry, and I think that interest is being reflected in the stock price and those institutional investors see Tilray as a global pioneer", he said.
Canada's federal government, led by Prime Minister Justin Trudeau, spent about two years planning for legalization, fueled by a desire to bring dealers like Clarke out of the black market and into a regulated system.
While these regions are clearly taking full advantage of the Cannabis Law, residents of Ontario, including Toronto, will have to wait until Spring 2019 for stores to open.
The Canadian Press has learned the announcement on setting aside minor marijuana convictions of the past will come as the government ushers in a historic new era of legalized cannabis. For instance, there are still some places in Canada where you can't smoke pot in public, and some provinces have outright banned growing it at home.
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Ford said by rushing legal cannabis out of the door before ensuring police have the tools they need, he said the Trudeau Liberals are putting people at risk.
Canada needs to "take a deep breath" as US states such as Colorado and California did not have a seamless system at the outset either, said Cam Battley, chief corporate officer for licensed producer Aurora Cannabis.
The supply of recreational marijuana could be limited at least early on in some stores.
Brenda Tobin and her son Trevor plan to open their pot shop in Labrador City in Newfoundland and Labrador at 4:20 p.m., a reference to 420, slang for the consumption of cannabis. "The prices are very comparable", Thomas Clarke, owner of THC Distribution store, said. "The first G7 country to legalize cannabis coast-to-coast, and the second country in the world, after Uruguay".
She doesn't expect to make much money off the pot itself, noting Newfoundland's 8 percent cap on retail pot profits.