The Canadian government has officially passed Bill C-45 yesterday, better known as The Cannabis Act. Now legislation has been set in place by the country’s Senate and House of Commons to legalize cannabis and the extraction of cannabinoids from industrial hemp. Implementation of the new bill is expected to take effect over the next three months.
The consumption, possession, and cultivation of cannabis is now legal for adults, as well as, the extraction of cannabinoids from industrial hemp for those with the proper licenses. Since Prime Minister Justin Trudeau announced the Cannabis Act in the beginning of 2017, the Canadian industrial hemp and cannabis public and private companies have grow exponentially. Those involved in the country’s private and public companies involved have jostled for position over the past year in order to gain advantages in the market over their competitors.
When the Cannabis Act officially comes into effect the Canadian federal government will be in charge of issuing recreational licenses for companies involved in the cultivation and processing of cannabinoids while the local provinces will be in charge of sale and distribution of finished goods. This will give the Canadian government the opportunity to restrict the black market sale of cannabis and give the opportunity for the government to limit the illegal sale of cannabinoid based products.
The most important aspect of the legalization of cannabinoids is that Canadians suffering from certain diseases and ailments will now have steady access to products that will help relieve their symptoms. The World Health Organization has released separate reports on both cannabis and the non-psychoactive cannabinoid CBD mentioning the numerous health benefits that one can receive from their consumption.
Moving Ahead when the Cannabis Act is set in full motion Canada will be seen as an experiment for countries around the world, including the United States, interested in the benefits and consequences of legalizing cannabinoids in their own countries. If successful the positive benefits for the Canada’s economy and people could be substantial.