The cannabis market in Canada has moved from prohibition to regulation, creating a new industry expected to be worth C$2.5 billion by 2020.
The Cannabis Act came into effect October 17, 2018, bringing many changes, central of which are:
- removing cannabis from the Controlled Drugs and Substance Act
- regulated sale of cannabis in adult use markets
- storefront sale of cannabis by provincially authorized retailers
- defined promotional activity restrictions
Further amendments to the Cannabis Act and Cannabis Regulations will expand saleable classes of cannabis to include cannabis extracts, cannabis topicals and edible cannabis by October 17, 2019.
To maximize opportunities for business growth and help you thrive in an increasingly competitive market, BLG can support your navigation of the regulatory and other legal challenges of the cannabis industry, which is uniquely regulated at the federal, provincial and municipal level, as well as in jurisdictions outside of Canada.
BLG offers one of the largest cannabis-focused multi-disciplinary legal teams in Canada, and we have been instrumental in the most high-profile and groundbreaking deals and decisions made on the TSX.
We advise cultivators, processors, retailers and everyone in between or adjacent, domestic and foreign, including companies operating in:
- beverage alcohol and other food
- venture capital firms
- investment dealers
- analytical testing
We are also involved in corporate transactions and advisory services across all sectors of the cannabis industry.
We also advise entities that are not participating in the cannabis industry, including employers (safety-sensitive and otherwise), assisted living facilities, sports and recreation centres, First Nations and others, on preparing policies and regulations to mitigate risks introduced by both medical and adult use cannabis.