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Cannabis Summary for Jan. 3, 2020

2020-01-03 21:10 ET - Market Summary

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by Stockwatch Business Reporter

The Canadian Securities Exchange Composite Index fell 0.11 point to 400.74 Friday. The Global and Mail reported that the recent trade agreement between Canada, the United States and Mexico could allow for a North American cannabis market to be established. Of course, for this to happen, the U.S. will have to first end federal marijuana prohibition. Recent Supreme Court rulings in Mexico have given the government a constitutional obligation to establish its own legal marijuana market. Under the ruling, Mexico has until April 30, 2020, to approve legislation to legalize all forms of cannabis. When the new trade agreement takes effect, Vince Sliwoski, a lawyer with Harris Bricken, says descheduling marijuana (essentially declassifying it as a serious and illegal drug) in the U.S. will allow the drug to cross international borders as easily as other commodities. There has been no official word on whether this is likely to be the case.

In Canada, the Ontario Cannabis Store revealed some of the brands that it would be carrying starting Monday, Jan. 6, for Cannabis 2.0 (the recently legalized extract products). Edibles will range in price from $7 to $14, beverages will range from $4 to $10 and vapes will be available for between $25 and $125. Both edibles and beverages are subject to a Health Canada-imposed limit of 10 milligrams of THC per unit/package. The limits were intentionally set low by the federal regulator. Of course, the limit is not set with the interests of cannabis companies in mind, but instead they are designed to minimize the number of people who accidentally ingest too much THC and get unpleasantly high, as well as to safeguard against accidental ingestion by children.

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