Prohibition to Go Up in Smoke – Introduction to the Cannabis Act

Last week the Canadian Federal government tabled a pair of bills which, assuming they pass through the parliamentary process necessary in order to become law, will establish a framework for the legalized (but still highly regulated) production, sale, distribution and possession for non-medical purposes of cannabis in Canada.

In addition to possession and personal grow rights, the Cannabis Act (the short title for one of these bills) also sets the groundwork for the production and sale of derivative products, initially including oils and seeds, and, subject to regulations still to come, food, beverages, and likely a host of other products which will be developed over time.

Legalization does not come without restriction.  A variety of issues have yet to be determined, such as specific advertising restrictions, and how each of the provinces and territories will enact their own rules and regulations around production, sale and other licensing of cannabis and cannabis-related products.

One thing is for certain though: with the official end of cannabis prohibition on the horizon, the marijuana industry in Canada is about to see an explosion of growth.

Read more about the proposed Cannabis Act in Prohibition to Go Up in Smoke: Government of Canada Introduces Legislation to Legalize and Regulate Non-Medical Access to Cannabis, written by my colleagues James Munro, Sasa Pudar, Stefanie Di Francesco and Lauren Ray.

Published by

Michael E. Reid

I am a Partner in McMillan’s Business group, and national Co-Chair, Startups and Emerging Companies. In my practice I work on general corporate/commercial matters, including debt and corporate/equity financing for private companies, as well as business acquisitions. I act for a wide range of clients, throughout the company life cycle from startup, through growth, in a range of industries, including in software, hi-technology, video games and entertainment.

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