On June 7, 2018, The Cannabis Bill passed the 3rd reading in the Canadian Senate and will now be kicked back to the House of Commons.
According to the CBC, house members will debate the Senate’s amendments which include a public registry of cannabis industry investors (to dissuade organized crime) and a ban on promotional items, or ‘swag’ that advertise cannabis.
If the Senate insists on amendments that the House has rejected, the upper chamber can then send the bill back to MPs.
It’s a bit like a 15-year-old asking her father if she can go to the school dance, and the Father saying, “I’ve discussed it with your mother – the answer is yes – but she and I need to talk more about the rules.”
Who benefits most from federally legalised cannabis in Canada?
According to Equity Guru’s Chris Parry, “It doesn’t matter how much you can grow if the market gets sucked up by a sweet ass brand from a smaller player who can sell at high prices because everyone wants his version of ‘Heisenberg Blue’ over Canopy’s Lemon Skunk.”
In other words: branders – companies like Choom (CSE: CHOO.C \ OTC: CHOOF) with experience getting premium products onto retail shelves.
“Choom is focused on delivering an elevated customer experience through our curated retail environments, high-grade handcrafted Cannabis supply, and a diversity of brands for the Canadian recreational consumer.”
Choom has acquired 4 ACMPR licenses, all in the late stages of the approval process, and plans to vertically integrate production with a distribution network of branded retail stores.
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