Canada's nascent medical marijuana sector was higher on Tuesday after Canada's Liberal leader Justin Trudeau, who would like to legalize marijuana, won a historic victory in the federal election.
While legalization will not happen overnight, much did change for small-business owners in the medicinal-marijuana industry.
“Marijuana entrepreneurs are all smiling because the future will now, hopefully, be accelerated,” said Robert Josephson, president of WeedMD, a Toronto-based medicinal-marijuana grower whose facility in Aylmer, Ont., is waiting on final inspection from Health Canada. “The election results are only positive for the industry, and good for all the entrepreneurs toughing it out.”
Although it may take years before prime-minister-designate Justin Trudeau makes good on his promise to move forward on recreational marijuana in Canada, Monday night’s victory sent marijuana stocks surging, and paved the way for more research and education into medicinal marijuana.
Read more about the development of the legalization of medical marijuana in Canada in these articles at www.theglobeandmail.com and www.torontosun.com