08:01:01 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Cannabis Summary for Jan. 4, 2021

2021-01-04 20:22 ET - Market Summary

This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The S&P/TSX Cannabis Index welcomed the first trading day of 2021 by adding 13.03 to 167.89, while the CSE Composite Index added 21.33 to 708.87. South of the border, Illinois started the new year with a blast of expungements of cannabis convictions. Governor J.B. Pritzker took to Twitter last Thursday afternoon to declare, "I am proud to announce that nearly 500,000 low-level cannabis-related records have been expunged in Illinois."

Mr. Pritzker added that the expungements came in four years ahead of schedule. In 2019, when Illinois legalized recreational cannabis use starting in 2020, the legislation made 770,000 residents eligible to have cannabis-related offences expunged. Mr. Pritzker initially estimated that it would take four years to get started. Instead, nearly half a million records have now been successfully tossed.

Illinois's numbers stand in contrast to Canada's. Although a bill was introduced in 2018 to expunge Canadians' prelegalization simple possession convictions, the federal government rejected this plan in favour of a streamlined "record suspension" process -- essentially pardoning the crime, but not erasing it. This is similar to the process available for other crimes, but cannabis applicants may waive the five- to 10-year waiting period and the $631 processing fee. The government estimated that up to 10,000 Canadians could apply for this fast and free pardon. Yet critics pointed out that the actual number of Canadians with prelegalization possession convictions is thought to be as high as 250,000. (The website of the Parole Board of Canada has the final, if unhelpful, word: "There are no definitive statistics available on the number of Canadians with only simple possession of cannabis convictions." Many convictions would have been for generic drug possession offences rather than cannabis-specific ones, making it hard to pin down a number. It is also worth noting that anyone with a record for any other offence is ineligible for an expedited cannabis pardon.)

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS

© 2024 Canjex Publishing Ltd. All rights reserved.


Reader Comments - Comments are open to paying subscribers of Stockwatch and unmoderated, although libelous remarks, obscene language and impersonations may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
For information regarding Canadian libel law, please view the University of Ottawa's FAQ regarding Defamation and SLAPPs.


Comments for this item are closed