Pubdate: Wed, 21 Oct 2015
Source: Province, The (CN BC)
Copyright: 2015 Postmedia Network Inc.
Contact: http://www2.canada.com/theprovince/letters.html
Website: http://www.theprovince.com/
Details: http://www.mapinc.org/media/476
Author: Stephanie Ip
Page: 4

POT PROPONENTS URGE QUICK ACTION

LEGALIZATION: Medical Marijuana Stock Prices Smokin' Hot in Wake of 
Liberal's Majority Victory

B.C.'s pot advocates are urging legalization sooner rather than 
later, now that a Liberal majority government is in place and medical 
marijuana stocks have begun to surge.

"I think it's going to have to move pretty quickly," said Sensible 
B.C.'s Dana Larsen. "There's no real reason to delay things."

Medical marijuana stocks surged Tuesday following the election 
victory of the Liberal Party, with Canopy Growth Corp. up more than 
10 per cent in morning trading to $2.40.

Shares of Canopy, a combined company formed by Tweed Marijuana Inc. 
and Bedrocan Cannabis Corp., have soared more than 40 per cent over 
the past five days, while Mettrum Health Corp. saw its shares shoot 
up eight per cent, or 15 cents, to $1.99.

Larsen isn't surprised by those numbers.

"I think a lot of people are anticipating those who are licensed to 
sell medical marijuana are going to be the first ones into the 
broader recreational market," he said, noting the cannabis community 
doesn't want "to see this turn into a corporate monopoly."

"That's not the legalization we want to see," he said, suggesting 
recreational marijuana be modelled after the way wine is produced and 
regulated.

The Liberals under Justin Trudeau have promised to "legalize, 
regulate, and restrict access" to marijuana, noting the country's 
current system leaves much to be desired.

Trudeau has said the current system benefits organized crime but does 
little to prevent kids from using marijuana.

"Trudeau's vow to legalize and regulate marijuana the 'right way' has 
set in motion the single most important catalyst for the marijuana 
space," Dundee Capital Markets analyst Aaron Salz said in a note to 
clients Tuesday.

Now, following a Liberal majority win, licensed producers are 
preparing for the likelihood the new government will permit 
recreational access to the drug as promised.

It's a move that would fuel rapid growth in Canada's burgeoning 
cannabis industry.

"One of the keys will be learning from the experience we've had over 
the last 18 months in providing medicine to patients ... and looking 
at what can be translated into adult recreational use," said Greg 
Engel, the CEO of B.C.-based Tilray.

Engel said the potential growth in the cannabis industry if a 
recreational program were implemented is difficult to quantify, 
adding the medical program alone is expected to see significant expansion.

Larsen suggested Trudeau's government move quickly to green light 
recreational pot, as the rules surrounding such an industry would 
come from provincial lawmakers who will need time to draft legislation.

"There's going to be growing pains and challenges and you want to 
have those early in your mandate," Larsen said. "But really, he's got 
to get it out of the way."

- - With files from News Services
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MAP posted-by: Jay Bergstrom