Canada has a politician named Justine Trudeau, who says he will do all he can to bring cannabis into a regulated market. Why is this important? Mr. Trudeau just got elected to fulfill the top job in the Canadian government.
Although Trudeau was just officially sworn in as Canada’s Prime Minister just a handful of days ago, as far as marijuana advocates are concerned, his promise to fully legalize the plant is as good as fulfilled.
“Pot’s legal!” wrote Marc Emery, Canada’s so-called “Prince of Pot,” the day after Trudeau and his Liberal Party won the federal election by a landslide. “One of Mr. Trudeau’s first official declarations should be, ‘The war against the cannabis culture in Canada is over.”’
By securing a majority government, the Liberals are poised to move quickly on their pledge to “legalize, regulate and restrict access to marijuana” for recreational use, which Trudeau has billed as a top priority. Though the incoming prime minister has yet to specify what exactly legalization would look like — and it could take years for it to come to fruition — things are already looking up for the industry.
This week, Jacob Securities, a Toronto-based investment firm that specializes in advising companies in the cannabis sector, launched a $50-million cannabis fund to focus on opportunities in Canada and the U.S.
“Justin Trudeau getting elected is the best thing that’s ever happened to the cannabis industry,” said Cheryl Shuman, founder of the Beverly Hills Cannabis Club and one of the fund’s lead advisers, when interviewed by VICE News. “Within the last 72 hours, it’s like open season in Canada, and the opportunities to invest there keep growing and growing. It’s like a wildfire spreading.”
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[Images via www.thestar.com and victoroh.ca]
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