Following years of discussion, and promises from Prime Minister Justin Trudeau that adult-use marijuana would be legal, we can now say it’s become a reality.
On Tuesday, June 19, the Canadian Senate voted for a second time on Bill C-45, which is officially known as the Cannabis Act. With 52 votes in favor, 29 opposed, and two abstentions, and the House of Commons having already approved its own version of the bill following an initial Senate vote on June 7, the Cannabis Act now moves to royal assent. Essentially, the final stage of the legislative process where an official legalization date will be chosen.
What does this all mean for Canada and marijuana stock investors? Let’s take a look.