NetworkNewsWire Coverage: Medical cannabis use has been legal in Canada since 2001, and Canada is now working to become the first industrialized nation to input a comprehensive system permitting the recreational use of marijuana. Sweeping legislation has been introduced by the Canadian government that takes aim at permitting nationwide recreational cannabis use by July 2018—a move applauded by companies that are currently licensed to produce medical marijuana in Canada or are engaged in providing services to growers. These companies include ABcann Global Corporation (TSX.V: ABCN) (OTCQB: ABCCF) (ABcann Profile), which recently closed a milestone financing agreement withCannabis Wheaton Income Corp. (TSX.V: CBW) (OTC: KWFLF), an investor and supporter of cannabis cultivation companies, as well as Canopy Growth Corp. (TSX: WEED) (OTC: TWMJF), Aphria Inc. (TSX: APH) (OTC: APHQF), and Aurora Cannabis Inc. (TSX: ACB) (OTCQX: ACBFF).
Despite the widespread legalization of medical marijuana in Canada, the licensing requirements for cannabis growers are incredibly strict, with only three percent of the growers who apply for licensing obtaining approval. ABcann Global was one of Canada’s very first companies to successfully obtain licensure to produce medical cannabis. Under Canada’s Marijuana for Medical Purposes Regulations, ABcann obtained its production license in March 2014, followed by the successful attainment of a cannabis sales license in December 2015.
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As Recreational Cannabis Legalization Looms, the Field of Opportunity is Green for Canada’s Leading Growers
