Cannabis in Canada - Things You Need to Know

1. Cannabis in Canada Things You Need to Know Cannabis in Canada is legal for both recreational and medicinal purposes. Medicinal use of cannabis was legalized nationwide in 2001 The federal Cannabis Act came into effect on 17 October 2018 and made Canada the second country in the world, after Uruguay, to formally legalize recreational use of the plant. Cannabis was banned in Canada from 1923 until regulated medical cannabis became legal in 2001. In response to popular opinion, the legislation to legalize cannabis for recreational use was passed by the House of Commons of Canada in late November 2017; it passed second reading in the Senate of Canada on 22 March 2018. Cannabis as a Commodity Growers that currently produce marijuana are licensed by Health Canada under (ACMPR). As of late 2016, there were 36 authorized producers across the country in Health Canada's list. Sales were allowed only by mail order, but by late 2017, some major retailers had applied for a change in the rules to allow them to also sell the product. By 21 December 2017, 82 licenses had been issued. British Columbia 13% Canada 13% According to a StatsCan estimate, Canadians may have spent roughly Prairies 14% CAD$6.2 billion on marijuana in 2015, Territories 21% although the agency admits that there is no scientific method of accurately Ontario 14% measuring illegal consumption. Atlantic provinc 14% Quebec 11% Cannabis for medical and non-medical purposes, per gram Craft Cannabis Under the Cannabis Act passed in 2018, only producers licensed by the government are allowed to grow the product. As of early October 2018, there were at least 117 such licensed producers. At times in 2016, and in 2017, the stock prices of some producers increased significantly as retail investors became more bullish on this segment of the market but then dropped at a later date. Between September and mid-November 2017, the typical stock cannabis producer's value increased by 54%, according to Vahan Ajamian of Beacon Securities Ltd. Stock Market Volatility Market analysts Matt Bottomley and Neil Maruoka of Canaccord Genuity believe that approximately 3.8 million persons will be recreational users (presumably on a frequent basis) by 2021 with a potential for $6-billion of sales. Developments in 2018 On 4 January 2018, a plunge in prices was being reported by Bloomberg. An update by Forbes in mid-July 2018 indicated that year to date, the Canadian Marijuana (stock) Index had declined by 19.1%, but had gained 132% over the previous year. In August 2018, Constellation Brands (a beer, wine and spirits producer) announced that it would invest an additional C$5 billion in Canopy Growth. Regulation By Province In Canada, regulation varies province to province, though there are some general rules regarding promotion. Adult-use cannabis can only be sold in packages of a single color without graphics. Cannabis companies in Canada will not be allowed to promote themselves through TV commercials, billboards, or put their names on sports and cultural facilities. Retail Distribution by Province After it was known that the federal legislation would give provinces the power to determine the method of distribution and sale, Ontario announced that the Liquor Control Board of Ontario would be the sole vendor, but not through the 651 stores that sell alcoholic beverages. As of late August 2018, New Brunswick, Quebec, Nova Scotia and Prince Edward Island had decided to sell cannabis through government-owned stores, as liquor is sold. Home-growing is not permitted in Quebec or Manitoba. British Columbia planned to sell cannabis through some government stores but would allow private sector retail locations as well. Manitoba, Newfoundland and Labrador and Saskatchewan have decided to allow private retail sales with liquor control authorities responsible for regulating private stores. All of the provinces, except Manitoba, had some plan for online sales direct to consumers. Quebec planned to open 20 stores, while Newfoundland and Labrador, New Brunswick, Nova Scotia and Prince Edward Island will have 24, 20, 12 and 4 retail locations, respectively. How to Sell Cannabis Online If you want to sell cannabis online, then you should build a cannabis website. Fastweed is a feature-rich platform made specifically for the cannabis industry. Create your own cannabis website for FREE with the help of FastWeed. Build your own ecommerce website in minutes to sell your marijuana-related products online. Register your dispensary and increase your revenue by reaching more clients ready to buy from you. Fastweed is the ecommerce solution that helps dispensaries grow their cannabis business online. Fastweed help vendors beat the competition by advertising their products and services online for free to reach more customers, gain more revenue, and grow their business faster. Convert users into customers with an engaging design. Easily choose from multiple themes to create a beautiful design for your online cannabis store. Source 1- https://en.wikipedia.org/wiki/Cannabis_in_Canada 2- https://surveys-enquetes.statcan.gc.ca/cannabis/ 3- https://www.fastweed.com/