Canada legalizes cannabis!

Today is a historic day: Canada officially becomes the second country in the world to legalize cannabis, following Uruguay in 2013. Each province has its own rules, In Quebec, the Société Québécoise Du Cannabis (SQDC) has exclusive rights to sell cannabis. In Quebec, the Société Québécoise Du Cannabis (SQDC) has exclusive rights to sell cannabis. and markets specific cannabis varieties.

Legal sales began at midnight in St John's, Canada's most easterly municipality. Ian Power and Nikki Rose had the honor of being the first to buy legal cannabis, from Tweed, a subsidiary of the group Canopy. Behind the counter, the CEO of Canopy himself, Bruce Linton, who sold it to them.

The first legal #cannabis sale in Canada! Ian Power and Nikki Rose made the purchase at @TweedInc in St. John's. Bruce Linton, CEO of @CanopyGrowth was behind the register.@CBCNL pic.twitter.com/KXE1Iok1NZ

- Zach Goudie (@zachgoudie) October 17, 2018

Among consumers, it's general euphoria. some healthcare professionals fear increased pressure on healthcare systems, already short of manpower.

Legalization was one of Justin Trudeau's campaign promises. Originally designed to protect minors and wipe out the black market, Canadian legalization has already had political and economic repercussions beyond Canada, with the global cannabis industry booming.

It's too easy for our kids to get marijuana and for criminals to profit from it. Today, we're changing that. Our plan to legalize and regulate marijuana has just passed the Senate. #PromesseHolding

- Justin Trudeau (@JustinTrudeau) June 20, 2018

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The statistics agency, Statistics Canada, estimated that in 2017, Canadians spent C$5.7 billion on cannabis, of which C$90% went to the black market. From now on, these resources, instead of feeding trafficking networks, will benefit the Canadian economy.

Stock market speculation has also been rife since the announcement of legalization. Last Monday, three of Canada's leading U.S.-listed companies (Canopy Growth, Cronos Group and Tilray) jumped between 12.1% and 18.9%. On this day of legalization, prices are at an all-time high. The top 12 Canadian cannabis companies have reached an estimated value of almost 55 billion Canadian dollars (or 42$ billion), with Canopy Growth valued at over 10 billion (US).

What does the future hold for the Canadian cannabis industry?

With its huge market of recreational consumers, Canada appears to be the promised land of cannabis, but regulations are quite strict and, according to some, restrict the industry's development. For example, the government requires that cannabis be sold in plain-colored packages with highly visible health warnings and small logos. Advertising is not only limited to informative promotion of the product and brand, but must also be invisible from outside the store.

In terms of production, plants must meet certain safety and quality standards, and are subject to inspection. The licensing system, meanwhile, is based on strict bureaucracy. The Canadian cannabis industry has already begun lobbying for more permissive rules, particularly in terms of advertising. Federal lobbying records show that officials have already received 583 visits or calls from the cannabis industry since Justin Trudeau came to power.

Nevertheless, these regulations benefit other sectors, such as the IT companies that create the software to enable growers to track and monitor their plants or test the final products. The cannabis industry is also closely linked to the agri-food and energy sectors. This industry within the industry also includes the laboratories and scientists who join the race to create future cannabis products. As early as 2019, new products such as cannabis candies (currently unauthorized) and infused beverages are expected to appear. in partnership with the alcohol industry.

Finally, not only will the industry become denser and more branched, it is likely to go global. Canada's boldness is already launching a large-scale political reflection on the revision of the status of cannabis. The globalization of cannabis will be a game-changer for the Canadian industry. will probably relocate its production activities to regions with a more favorable climate and more permissive regulations.