Canada Marijuana Sales to Outpace Liquor Sales by 2020, Predicts Imperial Bank of Commerce

Marijuana sales in Canada are likely to outpace liquor sales by 2020, according to a report released by the Canadian Imperial Bank of Commerce (CIBC).

“We believe that by 2020, the legal market for adult-use cannabis will approach $6.5 billion in retail sales”, claims the CBIC. “For context, this is greater than the amount of spirits sold in this country, and approaches wine in scale.”

These numbers are based on the CBIC’s calculation that Canadian’s will purchase 800,000 kilograms of legal recreational marijuana annually by 2020, at an estimated price of $10 per gram.  Prime Minister Justin Trudeau and his Liberal Party are working to have the legal marijuana industry underway by July.

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Legal Marijuana Sales Delayed in Canada

Despite Canada’s longstanding plan to begin legal marijuana sales in July, a Canadian official has conceded that they won’t actually begin until August, maybe a little later.

As recently as last week, Prime Minister Justin Trudeau’s government was insistent that it was still on track to begin legalization in July, which has been the plan for quite a while now. However,  Health Minister Ginette Petitpas said Thursday that this simply won’t happen, and sales aren’t going to begin in July. Instead, sales are likely to begin in August, or potentially shortly thereafter. The change in time-frame is based on the Senate’s updated timetable for considering the issue, which has already been passed by the House of Commons.

Petitpas Taylor says that provincial and territorial governments need eight to 12 weeks following senate passage and royal assent (final approval) to prepare for legal marijuana sales. This means that there won’t be enough time to begin sales in July. However, it looks as if September should be the latest that sales start, unless things are pushed back once again.

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Canada’s House of Commons Approves Bill to Legalize Cannabis

Legislation that would legalize cannabis for all adults in Canada has been approved by the nation’s House of Commons in a 200 to 82 vote.

Approval of Bill C-45 in the House of Commons sends it to the Canadian Senate for consideration. If approved by the Senate, it will be sent to the Governor General for Royal Assent (final approval). Justice Minister Jody Wilson-Raybould, a supporter of Bill C-45, calls the measure’s approval in the House an “important milestone” in the nation’s plans to reduce organized crime and keep cannabis away from children.

If the measure is passed by the Senate and signed into law, as expected, the possession and personal cultivation of cannabis would become legal for those 18 and older. The measure would establish a system of licensed brick-and-mortar cannabis retail outlets, while also allowing cannabis to be sold online.

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Ontario Announces Framework for Legal Marijuana – 150 Stores by 2020, Online Sales by July, 2018

The Ontario government has announced a framework for legal marijuana.

The plan, unveiled yesterday, will allow online as well as brick-and-mortar cannabis stores. Ontario officials expect there to be 80 marijuana stores open by July 1st, 2019, with 150 open by the following year. Online sales are expected to start throughout Ontario by July of 2018. The government is proposing a minimum age of 19 for purchasing marijuana from one of these outlets.

The plan was unveiled by Attorney General Yasir Naqvi, Finance Minister Charles Sousa and Health Minister Eric Hoskins. The announcement makes Ontario the first province or territory in Canada to publicly put forth a comprehensive framework for marijuana, which will be legal throughout Canada by next year.

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