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Aurora Cannabis Inc (3)
Symbol ACB
Shares Issued 54,548,700
Close 2024-07-19 C$ 7.88
Market Cap C$ 429,843,756
Recent Sedar Documents

NP says black market gives Canopy, others endless grief

2024-07-22 08:43 ET - In the News

See In the News (C-WEED) Canopy Growth Corp (2)

The National Post reports in its Saturday edition that the legalization of cannabis in October, 2018, unleashed a mania that has seen nearly 1,000 companies receive federal production licences and retailers open nearly 3,500 stores selling cannabis products across the country. The Post's John Ivison writes that the Cannabis Act was a cornerstone piece of legislation for the Trudeau government -- a welcome end to 94 years of failed prohibition and an attempt to make Canada safer by closing down the black market in unregulated pot. It has not quite worked out that way, and now there are dire warnings that the onerous federal regulatory and tax regime is in danger of killing the nascent licensed production market. Bill Blair, then-parliamentary secretary to the justice minister with special responsibility to usher in legalization, said the legislation was an effort to outflank organized crime. "We've created competition in the marketplace," he said. The reality is that the black market is alive and well, accounting for around 35 per cent of sales, according to Statistics Canada, and faces virtually no risk from enforcement. The average price in the illicit market remains 20 per cent lower than in legal retail stores.

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