Yesterday on June 21, 2018 the Cannabis Act, or Bill C-45 officially received royal assent. Canada is now the second country in the world, the first of the G-7 nations to legalize the use of adult recreational cannabis.
As announced by Prime Minister Justin Trudeau, as of October 17th, 2018, cannabis will be recreationally legal in Canada. So, what is happening in the meantime? The provinces, territories and municipalities are finalizing their regulations and retail sales channels with Federal Regulations, expected next week on June 27, 2018. It is important to note that the regulation of edibles and beverages are not included in this initial round, but these regulations are expected within the year.
The structure of cannabis regulation in Canada will have Health Canada continuing to regulate personal production and licenced cannabis producers for medicinal cannabis. Whereas for recreational use, Health Canada will be regulating the licenced producers with the provinces and territories having control over personal production, distribution and sales of the product.
According to Deloitte, Canada’s cannabis market could be almost $7.2 billion by 2019. dicentra is committed to helping companies be a part of this newly legalized industry whether it be:
dicentra Cannabis Consulting is committed to keeping both current and prospective clients well informed and educated on the Cannabis Act and the proposed cannabis regulatory framework. We are committed to providing you with news, updates and information as cannabis becomes legal for recreational use in Canada. For any cannabis related questions, please contact us by phone at 1-866-647-3279 or via email at info@dicentra.com.
References
Lee, J., & Consumer Advisory & Analytics. (2018, June 04). A society in transition, an industry ready to bloom | Deloitte Canada. Retrieved from https://www2.deloitte.com/ca/en/pages/consulting/articles/deloitte2018cannabisreport.html