Tomorrow is the day the legal cannabis industry has been anticipating, for what seems like a lifetime. On Thursday, Canada’s Senate will be voting on bill C-45, best known as the Cannabis Act. If the vote proves favorable, which is pretty much the expectation at this point, the Cannabis Act will be one step closer to being signed into law, which would make adult-use marijuana legal in Canada.
Legalizing recreational pot would add $5 billion, if not more, to Canada’s burgeoning legal cannabis industry. Mind you, this would come atop what the industry is already generating from medical marijuana sales, and via exports to countries where medical weed has been legalized.
In anticipation of this vote, and based on generally strong growth in medical cannabis sales up to this point, the consensus question among investors is