“We recognized that there will be much discussion around the implications of our recommendations,” Anne McLellan, chair of the task force, said in the report. “However, like scraping ice from the car windows on a cold winter morning, we believe that we can now see enough to move forward.”
Recommendations made by the panel include having a “diversity of producers” and allowing distribution through both storefront and mail order business, though they recommend that provinces control distribution and sales, while suggesting that the federal government regulate production.
The nation is expected to legalize and regulate marijuana next year, following a pledge from Prime Minister Justin Trudeau. His promise has lead to stocks in the plant skyrocketing, especially after a study conducted by Deloitte estimated that recreational marijuana will become a $26.6-billion industry, surpassing sales of beer, wine, and spirits combined. Stocks boomed again following the release of the task-force report on Tuesday.
“Shares of Canadian marijuana stocks surged Tuesday. Canopy Growth Corp. rose as much as 7.9 percent, before paring gains. It was up 2.6 percent to C$10.26 at 11:25 a.m. in Toronto. Aurora Cannabis Inc. rose as much as 8.3 percent and OrganiGram Holdings Inc. saw its share price surge 8.9 percent,” Bloomberg reported.
