Share Share Toronto police to Canadians: stop snitching on your neighbors about marijuana tweet share Reddit Pocket Flipboard Email Roberto Machado Noa/LightRocket via Getty Images The Toronto Police Service has a message for Canadians: Please stop narcing on your neighbors about marijuana.
With the official start of marijuana legalization in Canada on Wednesday, and retail stores opening across the country (although not in Ontario until April), the Toronto police force started a public awareness campaign to inform people that they should no longer snitch on their neighbors about marijuana use.
What could be slowing Wednesdays stock market growth is that it remains illegal under United States federal laws and investors are hesitant to dive into the industry given the regulatory risks fully. The Canadian government travel advisory website was updated Wednesday to account for the updated regulations, and they are demanding marijuana buyers and consumers legally possessing or consuming on the now-legal Canadian side to not attempt to cross the Canada-U.S. border with any amount of cannabis in any form, even if you are traveling to a U.S. state that has legalized possession of cannabis. Investors might still be concerned about the riskiness of the national legalization experiment and are waiting to see how things unfold as the smoke dissipates.
Video: Canada becomes second country to legalise recreational cannabis | Al Jazeera
Despite Canadas legalization of pot, cannabis stocks need more than a puff of smoke to stay lit
Some of that public awareness campaign took the form of a few snarky tweets, invoking truly absurd 911 calls (from people asking for directions to asking what to do with frozen meat during a power outage) alongside calls about marijuana as examples of what not to do. The tweets urged people to no longer call the police about an adult smoking a joint, your neighbours pot plants, or [s]melling weed coming from your neighbours home.
Asking for directions because youre lost is not a 911 call. Reporting an adult smoking a joint isnt either. Cannabis is no longer illegal on October 17, 2018. Consumption is allowed anywhere cigarette smoking is allowed except in a motor vehicle. Do not call police for this ^sm pic.twitter.com/7SoescfLM5
Legal pot will have disastrous effects, Canadian bishops say
Asking police to call your friend because you are out of minutes is not a 911 call. Calling about your neighbours pot plants isnt either. Cannabis is no longer illegal on October 17, 2018. Up to four cannabis plants will be allowed per household. Do not call police for this ^sm pic.twitter.com/1rUvR9yvcT
Asking what to do with your frozen meat during a power outage is not a 911 call. Smelling weed coming from your neighbours home isnt either. Cannabis is no longer illegal on October 17, 2018. Consumption is allowed for anyone 19yrs or older. Do not call police for this ^sm pic.twitter.com/6aYhbStarS
The tweets are funny, but they also speak to the huge change that Canada has brought on. Marijuana has been illegal in Canada for generations. This has shaped peoples views in all sorts of ways, up to enabling neighbors to snitch on each other over cannabis use. Officials across Canada now have to work to change not just the laws, but also the social norms and rules at work here.
Ascent industries readies for legalization in Canada as they continue Global growth
On Wednesday, more than 100 legal marijuana stores opened for business in Canada, supplied by around 120 licensed growers, according to the Associated Press. Hundreds more stores are expected to open in the years to come.
This will allow both Canadians and travelers to the country to legally buy marijuana for recreational use for the first time.
Theres one major exception: Ontario, Canadas most populous province and where Toronto is located, wont allow sales until April. The newly elected conservative government there said it needs more time after it replaced previous plans for government-run stores (similar to state-run liquor stores in the US) with plans for private outlets. But residents will be able to buy pot online and get it through the mail in the meantime, and grow up to four cannabis plants per residence.
Video: Canada legalizes marijuana for recreational use
The beginning of sales follows the passage in June of Canadas Cannabis Act, which legalized marijuana possession, home growing, and sales for adults (18 and older). The federal government is overseeing remaining criminal sanctions (for, say, selling to minors) and the licensing of producers, while provincial governments are supervising sales, distribution, and related regulations — as such, provinces will be able to impose tougher rules, such as raising the minimum age. In Ontario, for example, the age has been set to 19.
The day we have all been waiting for is finally here. Canada has fully legalized all types of marijuana use (medical and recreational) as of Wednesday, October 17. This makes Canada only the second country in history to fully legalize adult use of recreational behind Uruguay, and it is an exciting time for marijuana companies and consumers globally.
Video: Border official: still illegal to bring pot to US
The move makes Canada the first wealthy nation and the second country in the world to legalize pot for recreational use. Only the South American country of Uruguay legalized marijuana before. (The Netherlands, despite its reputation, has not fully legalized pot.)
Marijuana is still illegal in the US at the federal level, even though nine states have legalized for recreational use at varying degrees.
So Canadas move is drawing a lot of attention around the world. And how it all shakes out could help determine whether legalization in Canada is a sign of things to come across the globe.
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While the cannabis sector of the stock market has seen close to a 10 percent increase since the summer, it still hasnt hit the big time. Individual investors have been enthusiastic, but a related combination of wariness on the part of institutional investors and a still mixed regulatory environment has been a damper on overall success.
The stock market splits between retail investors — individuals, including ordinary people putting money into equities — and institutional investors. The latter includes mutual funds, hedge funds, pension funds, and private equity firms that have enormous amounts of money available.
Retail investors have been enthusiastic about cannabis-related stocks, most of which are listed in Canada, with a few cross-listed on U.S. exchanges. “There is an enormous amount of new retail money coming into the market,” TD Ameritrade CEO Tim Hockey told CNBC early this year. The two big drivers have been cryptocurrencies and cannabis, and millennials have been particularly eager to enter the market.
Three things to know before going to Canada for some legal weed
The excitement is a result of the interest consumers have in the products, whether for medical or recreational use — estimated to be 50 million people. “Thats a real market,” said Jon Trauben, a partner in Altitude Investment Management, which focuses on cannabis companies. “Our business case is that demand is there and customers will ultimately prefer to buy safe, tested product through legal channels.”
Cannabis companies that have gone public include penny stocks as well as shares approaching $150 for the two biggest names, Tilray of Canada and GW Pharmaceuticals, which is based in the U.K.
What Canada's marijuana legalization means for the U.S.Oct. 17, 201803:53There is increased corporate interest in cannabis companies. Bloomberg reported that spirits giant Diageo is looking to invest in Canadian firms and possibly to collaborate on cannabis-infused drinks. Beer, wine, and spirits company Constellation Brands invested $191 million last year in Canadian company Canopy Growth and added an additional $4 billion to raise its stake to 38 percent.
Canada’s federal approval has given its industry a huge advantage over its American counterpart, including unfettered access to banking and billions of dollars in investment. Canadians can even order marijuana online and have weed delivered by mail to their door.
Official: It remains illegal to bring marijuana into US
However, on the whole, institutional investment has been low. Although the upside is attractive, the regulatory and legal issues are considerable. In the U.S., marijuana is still listed as a Schedule 1 drug, which means the federal government considers it to have “no currently accepted medical use and a high potential for abuse.” Pots company includes LSD, peyote and heroin.
States that have legalized cannabis products, whether for recreational or strictly medical uses, technically are in conflict with federal law. The Rohrabacher-Blumenauer Amendment prohibits the Department of Justice from using any funding to enforce the Controlled Substance Act to prevent states from implementing their own medical cannabis laws. Congress must annually renew the provision and currently they have done so through Dec. 8.
The law doesnt prevent the Justice Department from interfering with recreational use, even if legalized by a state. Nor does it ensure that companies in the U.S. have access to basic banking and financial services, like processing credit card payments from customers or getting access to business insurance.
A change in direction by the federal government, as hinted at by the White House, could potentially turn this around and open the door for big influxes of money from institutions.