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Pot Stocks Tumble in First Hours of Canada’s Legal Weed Market

18 Octobre 2018

"Kamloops just seemed to be the right place at the right time, where they had the zoning in place, they had a store location that was flawless for what we wanted to do", he said. Prete said the thing she's most looking forward to about legalization is the experience of buying pot just like any other product.

On Wednesday morning, the federal government announced it would introduce legislation to grant pardons to Canadians convicted of simple cannabis possession charges and who have completed their sentences.

The sale of legal recreational marijuana has begun in Canada, making it the second country with a nationwide legal pot market.

"I'm loyal to him because of the fact that he was willing to sacrifice going to jail, perhaps, for providing medical marijuana to a lot of people who consider it their medicine", he said.

"I can't believe we did it".

"We're the forerunners of a cannabis store that's run and looked after by the province of British Columbia, to set an example of how cannabis can be fit in to our society", Jones says.

"U.S. laws will not change following Canada's legalization of marijuana", said a statement issued by U.S. Customs last month. "It's going to take a few years before we have a fully functioning, mature system that's working the way it's supposed to ... but over time you are going to see the black market decline".

Daffyd Roderick, spokesman for the Ontario Cannabis store, declined to provide details on how the province estimated demand and ordered from the licensed producers.

People have also raised concerns about whether buying cannabis legally in Canada could get them banned from entering the United States, where it remains illegal at the federal level.

Earlier on Wednesday, cannabis enthusiasm was on full display in dispensary lineups and at celebratory gatherings across Canada, while investors soured on pot stocks. Sales in Ontario will only be through the Ontario Cannabis Store's website until April 2019 at the earliest.

In most other provinces, it will be legal to buy cannabis at 18 or 19 years old. In Quebec, a newly-elected government has promised to hike it to 21.

Ian Power was first in line at a store in St John's, in the province of Newfoundland, but didn't plan to smoke the one gram he bought after midnight.

Its deliberate approach, which took more than two years of planning, allows provinces to shape their own laws within a federal framework, including setting the minimum age and deciding whether to distribute through state-run or private retail outlets.

For decades the USA required other nations to cooperate in the drug war or risk losing foreign aid, even as some Latin American countries wracked by violence criticized America for failing to curb its appetite for cocaine, marijuana and other drugs.

"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.

People line up outside a cannabis store to purchase products for the first time, October 17, 2018 in Montreal.

"If you get caught in a canoe drinking alcohol, you get a small fine", said Larsen.

Pot Stocks Tumble in First Hours of Canada’s Legal Weed Market