Canada To Become First G7 Nation To Legalize Marijuana

CANADA: Canada will next year become the first country in the G7 bloc of leading economies to legalize marijuana, the government said Friday in a speech by the governor general.

Prime Minister Justin Trudeau had promised the move during the recent election campaign that swept his Liberals to power, after two previous administrations failed to follow through on a similar pledge.

Trudeau’s Victory Could Be A Major Boon To Canada’s Marijuana Industry

CANADA: Justin Trudeau’s historic Liberal victory could be a big win for Canadian’s medical marijuana industry as Trudeau’s previous pledge to “legalize and regulate” could increase a burgeoning sector of the country’s economy.

With the announcement of the new Liberal government late Monday evening, stocks for Canada’s top three medical marijuana producers increased sharply Tuesday.

Canopy Growth Corp. was up 11 per cent to $2.43, Aphria Inc. rose 5.3 per cent to $1 and Mettrum Health Corp. gained 7.6 per cent to $1.98, according to Bloomberg.