World Marijuana Uruguay became the first country in the world to fully legalize marijuana nationwide with a 2013 law, but now the South American country is struggling to meet customers' demand. Legal pot officially went on sale in Uruguay last year, under regulations that cover everything from growing plants to purchase of the drug. Despite legalization, however, the country’s lawful market is still struggling to compete with illegal dealers. “The demand is greater than our productive capacity,” Diego Olivera, the head of Uruguay’s National Drugs Council, told The Associated Press Wednesday. “We have to address that challenge.” Altogether, between the legal and black market, Olivera estimates that about 20 to 25 metric tons of cannabis are consumed yearly by Uruguay’s population of 3.5 million. A man shows two envelopes containing marijuana he just purchased at a pharmacy in Montevideo, on July 19, 2017. Pharmacies in Uruguay start … [Read more...] about World’s First Nation To Fully Legalize Pot Can’t Meet Demand
Legalizing pot in canada
The name of the store is High North, but it might as well be named High and Dry because for all but about four hours of the first two weeks since marijuana was legalized in Canada, there was no pot to sell. Trevor Tobin, one of the owners of the Labrador City shop in Newfoundland and Labrador, said they went 10 straight days without supply. "The producers keep saying there will be some bumps in the road, but right now it's not a bump in the road. It's a big pothole," he said. His mother, Brenda Tobin, is a part-owner and said that after she tells customers there's nothing to buy, "a lot of them are saying, 'Oh, well. I guess it's back to the black market.'" #DamageDone: Scenes From the Red Sox Championship Parade Charles Krupa/AP Legalization arrived Oct. 17, and Canada became the world's largest national marketplace for so-called recreational marijuana. But for now, it's a superlative in name only. The first weeks have felt more like a soft opening with few retail outlets … [Read more...] about Supply Shortages Plague Canada’s New Cannabis Marketplace
World Marijuana Legalization As Canada gets ready to implement legal recreational marijuana later this year, the U.S. neighbor’s cannabis stocks have surged and some experts suggest marijuana could be the next Bitcoin. “I believe the incredible tailwinds blowing at legal marijuana’s back make it so the opportunity here is much like the one internet stocks offered in 1994 … or the one bitcoin offered in 2015,” Matt McCall, founder and president of Penn Financial Group wrote for Investor Place. Cannabis stocks were also among Canada’s best performing last year. Canopy Growth and Aurora Cannabis are the top publicly traded marijuana companies, and those who invested in them a year ago have “easily reaped Bitcoin-like returns,” Canada’s Global News reported. After Canada’s parliament voted to legalize recreational weed on June 19, marijuana stocks in the country immediately surged. Canopy, the nation’s largest producer, … [Read more...] about Is Canada’s Marijuana the New Bitcoin? Stocks Surge After Legalization
World Marijuana Legalization Canada plans to crack down on legal marijuana companies that sponsor public events such as music festivals. Despite last month's passage of the Cannabis Act to legalize recreational marijuana in October, Canada’s national health department has raised concerns about cannabis businesses engaged in corporate sponsorships, CTV News reported Monday. The department said the government’s regulations are “abundantly clear” and suggested corporate sponsorships could be considered marketing to minors. “As the law presently stands, the advertising of cannabis is subject to several prohibitions,” the national health department said in a statement. “The department is reviewing the actions of existing licensed producers and will be taking every possible step to bring them into compliance or prevent non-compliance with existing laws.” A pedestrian walks past the Erbachay Health Centre Dispensary on Granville … [Read more...] about Legal Marijuana Companies Sponsoring Events in Canada Face Government Crack Down
World Recreational cannabis officially became legal across Canada on Wednesday, a long-awaited fulfillment of a 2015 campaign promise by Prime Minister Justin Trudeau and the outcome of a summer decision by parliament. With legalization, however, Canada has focused attention on the vastly different position of the federal government south of the border in the United States. Leading up to October 17, Canadians were warned by legal experts and officials that despite numerous U.S. states legalizing marijuana, the plant remains classified as an illegal schedule 1 drug under U.S. federal law. This means that Canadian marijuana investors, workers in the budding industry and even casual users could face difficulties, and potentially even lifetime bans, when entering the U.S. As a result, top Canadian and U.S. officials have met on several occasions to discuss the implementation of legal weed policies, Richard Walker, a spokesperson for Global Affairs Canada, told Newsweek. Cannabis … [Read more...] about Legal Weed Has Arrived In Canada but Will the U.S. Target Investors Crossing the Border?