Legal Cannabis product sales projected to grow

According to a research report by Arcview Market Research, the legal cannabis market is estimated to grow from $6.7 billion in consumer spending in 2016 to $22.6 billion in 2021.

The report also indicates that the amount of cannabis that cultivators will need to grow to feed the demand this spending represents will grow at a 23% compound annual growth rate (CAGR), from 1.7 million pounds in 2016 to 4.8 million pounds by 2021.

The positive projections are due to increasing legalization of cannabis products. Two major markets are legalizing cannabis for recreational use - Californiaand Canada. While California is the largest market, Canada is projected to show strong sales as well.


Albertans give positive marks to provincial government's marijuana plan

A new poll finds most Albertans are satisfied with the marijuana-related policies recently introduced by the Alberta government.

The poll was conducted by Insights West Poll and the results were released Monday.

The online survey found 88 per cent of Albertans agree with the government decision not to allow marijuana to be smoked in vehicles, school property or parks.

It also found 77 per cent in favour of ensuring 18 will be the legal age to acquire marijuana in Alberta and 78 per cent agree marijuana stores should operate under a specific license meaning they don’t want to see the product sold at liquor stores or drug stores.

When it comes to allowing people to grow marijuana in their home; 63 per cent say they should have no more than four plants.


Will second-hand smoke lead to failure of workplace drug testing?

It looks like Canadian Olympic gold medalist snowboarder Ross Rebagliati may have been right all along.

Rebagliati, the first Olympic gold medalist for Men's Snowboarding at the 1998 Winter Olympics, was initially disqualified after THC, the main ingredient in marijuana, was found in his system in a drug test.

The decision was eventually overturned since cannabis wasn't a banned substance but Rebagliati maintained the positive drug test was the result of second-hand smoke.

Now a study from the Cummings School of Medicine at the University of Calgary seems to support his claim.


Canada: Alberta courts could face increased workload with marijuana legislation

Legalizing marijuana in Canada is coming down the pipeline, which poses some serious challenges for lawmakers.

First among those challenges is ensuring there’s a proper method to prove someone was actually impaired from marijuana use. In an effort to understand those challenges, Ponoka News reached out to Rod Clark, a counsellor with SIRRS LLP Law Group in Ponoka.

Clark was the chief Crown prosecutor in Wetaskiwin before joining SIRRS early last year.

He says there’s two areas of law that are affected by the legalization of marijuana, the first is on the criminalization of marijuana and the second is on the civil side.


Alberta betting on booming marijuana market

Unlike Ontario and Quebec, Alberta has taken free market approach. Recreational marijuana will be sold in privately owned retail stores and there could be a lot of them because at this point there is no limit on the number.

So far it looks like Alberta will be the go-to province for marijuana entrepreneurs lining up to get in on the action when selling pot becomes legal next summer.

Unlike Ontario and Quebec, Alberta has taken a free market approach. Recreational marijuana will be sold in privately owned retail stores and there could be a lot of them because at this point there is no limit on the number.


Cannabis sales must avoid mistakes made by alcohol deregulation, doctor says

As the province begins developing a framework for legalizing cannabis, a University of Alberta doctor said she hopes Alberta learns from past mistakes with alcohol deregulation.

Dr. Elaine Hyshka said the government has some decisions to make before legalization takes place on July 1.

"I'll be watching to see how government maintains control over things like price, advertising and marketing, the density of outlets and other factors that really are critical for really trying to encourage moderate use," Hyshka told CBC's Radio Active Wednesday.Hyshka is speaking at the University of Alberta Thursday about what the Cannabis Act means for Canadians. The presentation at 5 p.m. will be livestreamed on their website.


Canada: 'Demand will be huge': Alberta government releases cannabis retail rules

Private retailers who want to sell legal marijuana in Alberta next July 1 won’t be able to do so alongside alcohol, or even a bag of chips.

Under proposed rules introduced by the province Thursday, retailers will be restricted to sales of cannabis and cannabis-related goods such as lighters and rolling papers.

There’s no word on how much legal marijuana will cost, but 420 Clinic founder Jeff Mooij says that won’t matter to consumers. 

As a medical marijuana clinic owner and cannabis user, Mooij said Thursday there is an appetite for clean, safe, regulated weed in Alberta — it’s not about paying less than black market drugs, but knowing where the product is coming from.

“Demand will be huge,” he said.


Canopy Growth welcomes Sweetgrass Inc. as newest Craftgrow partner

Canopy Growth Corporation (TSX: WEED) is pleased to welcome Sweetgrass Inc., a Strathcona County, Alberta-based ACMPR applicant, to Tweed's curated CraftGrow line.

Pending license approvals, Sweetgrass will supply its cannabis products via Tweed Main Street, the most diverse cannabis marketplace in Canada. The agreement will serve to increase the amount of variety and consistency of supply available to Tweed's registered medical cannabis customers.


Financial advisor answers questions on marijuana investment

Forget the gold rush, first-time investors are looking to cash in on the green rush, but financial advisors are warning those looking to cash-in on soon-to-be legalized cannabis to think before they invest.

The rapid growth of these businesses is attracting veteran investors with deep pockets, but financial advisors are also seeing many first-time investors looking to get rich quick.

"Be careful, this is obviously a new industry,” explained Kevin Mullane, senior investment advisor with National Bank Financial. “A lot of these companies don’t have a lot behind them at this point in time, in terms of revenues and earnings, more importantly earnings,”


Legal marijuana: health ministers should be better prepared

Drugs – legal and illegal – have so come to dominate the conversation among federal, provincial and territorial ministers of health that perhaps we should start calling them ministers of drugs?

At their most recent meeting, held last week in Edmonton, they discussed the following issues: legalization of cannabis, opioids and the overdose crisis, pharmacare, mental health and addiction, tobacco control, and antimicrobial resistance as a result of overuse of antibiotics.

Each of those issues is pressing for different reasons, but let's focus on the one with a hard deadline for action: cannabis.

On July 1, 2018, it will be legal for Canadians to purchase and possess some cannabis products.


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