Cannabis: a budding Canadian industry

Last week, we covered EY’s recently released report (the Report) surveying the bourgeoning cannabis sector in Canada. The impending legalization of cannabis has weighty implications for the Canadian economy, but may also impact the global markets more broadly. Capital markets, the jobs market, mergers and acquisitions activity and intellectual property, among others, stand to be significantly affected. This is an unprecedented opportunity for the country to be the global leader in the cannabis space, to shape the regulatory framework for cannabis around the world and to spur innovation and economic productivity – The Report Review Following the most recent federal election, a task force was created to report on the legalization and regulation of cannabis. This task force delivered its report in November 2016. Shortly thereafter, on April 13, 2017, the federal government released the proposed Cannabis Act (Bill C-45) to legalize the production, distribution and sale…

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