Want to Smoke Legal Pot on Day 1 in Ontario? Youre Out of Luck

Want to Smoke Legal Pot on Day 1 in Ontario? You\re Out of Luck

The Biggest Event in Marijuana History Is Almost Here – and It Could Make You $2 Million

This expert insight from Michael A. Robinson originally ran in Strategic Tech Investor on October 11, 2018

Canada has legalized recreational marijuana nationwide, and that law goes into effect Oct. 17 – exactly six days from today.

British Columbia, home of the BC Bud long cherished by American pot connoisseurs, has had a prevalent marijuana culture since the 1970s, after US draft-dodgers from the Vietnam War settled on Vancouver Island and in the province’s southeastern mountains. But a change in Government last year slowed cannabis distribution plans there, too, and it will have just one store ready next Wednesday: a state-run shop in Kamloops, a few hours’ drive northeast of Vancouver. By contrast, Alberta expects to open 17 next week and 250 within a year.

Marijuana to become legal across Canada next week

That means any adult over 18 will be able to just walk into a dispensary and buy up to 30 grams of cannabis. That could be flower, oils, or – in some places – seeds and plants.

The federal Government has licensed 120 growers, some of them enormous. Canopy Growth, which recently received an investment of $4 billion from Constellation Brands, whose holdings include Corona beer, Robert Mondavi wines and Black Velvet whiskey, is approved for 5.6 million square feet (520,000 square meters) of production space across Canada. Its two biggest greenhouses are near the US border in British Columbia.

Ontario and Nunavut – Canadas most and least populated provinces, respectively – will have no stores open Oct. 17. British Columbia has one store for its 4.8 million residents, and the Northwest Territories will be home to just six government-run stores – about one per 7,420 residents.

While the start to legal cannabis may be a little slower than expected, it wont stay slow for long. Manitoba has set a goal to have 90% of residents live within 30 minutes of a dispensary. Ontario is working on opening as many as 40 stores. Already, hundreds of companies have applied to be retailers.

Michael A. Robinson is one of the top financial analysts working today. His book “Overdrawn: The Bailout of American Savings” was a prescient look at the anatomy of the nations S&L crisis, long before the word “bailout” became part of our daily lexicon. Hes a Pulitzer Prize-nominated writer and reporter, lauded by the Columbia Journalism Review for his aggressive style. His 30-year track record as a leading tech analyst has garnered him rave reviews, too. Today he is the editor of the monthly tech investing newsletter Nova-X Report as well as Radical Technology Profits, where he covers truly radical technologies – ones that have the power to sweep across the globe and change the very fabric of our lives – and profit opportunities they give rise to. He also explores “whats next” in the tech investing world at Strategic Tech Investor.

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British Columbia’s ministry of public safety is forming a team of 44 inspectors to root out unlawful operations, seize product and issue fines. They’ll have responsibility for a province of 4.7 million people and an area twice as large as California, where the black market still dwarfs the legal market that arrived in January.

Posted in Ontario