#Canada #Cannabis Senate passes #BillC45 ushering era of official legalization of Cannabis in Canada

This from Canaccord on the approval by Canada's senate of Bill C-45 fully legalizing cannabis 

In a watershed moment for global cannabis, last night, the Canadian Senate passed the third and final reading of Bill C-45 by a vote of 56-30 (with one abstention). As a result the official legalization of cannabis in Canada has effectively reached the finsih line; however, the amendments made to the Bill in the interim will have to be approved in the House of Commons and then ratified by the Senate before reaching Royal Assent and brought into law. We expect this remaining process to be procedural in nature and likely completed in the coming week.

Looking ahead, provinces will continue to finalize respective distribution platforms, and we expect meaningful legal rec sales to roll-out on a national level by September/ October. However, we caution investors that there remain several issues to be ironed out, and it is not likely that the launch will be smooth given challenges for retail distribution and ramping up cultivation capacity.Although logistical hurdles remain, we believe positive industry catalysts are still on the horizon. This includes major provinces such as Ontario, Alberta and BC still to announce initial tender allotments for product and
the legislation of more recreational friendly products, such as vape pens, edibles and other derivative cannabis product that will become increasingly important for producers as the cultivation of cannabis is expected to become largely commoditized.

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