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Home 🌿 Marijuana Business News 🌿 ‘Long path to legalization’: Canadian marijuana companies not convinced of legal recreational market by 2018 🌿

‘Long path to legalization’: Canadian marijuana companies not convinced of legal recreational market by 2018

Submitted by Marijuana News on Thu, 12/01/2016 - 09:00

Canada’s task force on legalizing pot concluded its highly-anticipated report for the federal government Wednesday, but some marijuana producers believe pot-watchers need to chill expectations for legal recreational sales any time soon.

“It’s a long path to legalization,” said Brendan Kennedy, CEO of private equity firm Privateer Holdings, which has a global portfolio of marijuana-focused investments. He will outline his thoughts on the road ahead for legalized marijuana Thursday in a speech to the Economic Club of Canada.

Speculation that the Task Force on Marijuana Legalization and Regulation report will kickstart a multi-billion dollar legal recreational market is a major reason for a recent frenzy in pot stocks — which has led to massive volatility in share prices of Canada’s publicly-traded licensed producers.

The federal government has committed to introducing legislation in the spring of 2017. The Parliamentary Budget Office has projected legal sales of recreational cannabis might begin as...

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