When marijuana is taxed, the tax will apply to federally-licensed producers, and will be either a flat rate on the quantity of cannabis in a given product or a percentage of the sale price of a marijuana product – whichever is higher.
Licensed producer Aurora Cannabis has signed a deal to supply medical marijuana to Shoppers Drug Mart.
Cronos Group, which is already listed on the Toronto Stock Exchange is expected to begin trading its shares on the NASDAQ under the symbol ‘CRON’ as early as Tuesday, February 27, according to a statement put out by the Toronto-based company.
Some Canadian colleges and universities are preparing people for the thousands of potential new jobs expected to be created as the country’s booming weed industry — valued at $23 billion by accounting firm Deloitte — transitions from the black market to a legal one with an estimated 5 million existing customers across the country.
Cannabis consumption has more than doubled among Canadians 15 and older over a 30-year span, according to a new Statistics Canada report.
“July 1 was always a target date,” Tony Dean explained. “We’re going to see … a final vote by the Senate on June 7 that may require a bit of time for some amendments to be dealt with. But in a sense, if that bill is approved on June 7, cannabis will be legal in terms of the law — it just won’t be available for another few weeks.”
They’ve been raided, warned and put on notice. But as legalization looms, players who describe themselves as part of Toronto’s cannabis “grey market” say they simply aren’t going anywhere.