Briefing

Cannabis 2.0 takes effect in Canada today with the legalization of derivatives

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Newly legal products include edibles, vape pens, extracts and topical ointments and creams. Pending approvals, they are expected to hit retail stores in mid-December. (The Logic)

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Talking point: Deloitte predicts the Canadian cannabis-derivatives market will be worth $2.7 billion per year, with edibles accounting for $1.6 billion of that. While the forecast for the industry is ultimately positive, it warns that investors should expect slow progress, “missteps, delays, and frustration.” Critics say excessive regulation has stymied growth in the legal market, with low caps on retail outlets slowing sales and leaving producers struggling to sell their wares. Pot stocks remain low, while the black market’s lower cost and ready availability relative to legal sources have reportedly kept it strong as ever. Still, the legal market has contributed more than $8 billion to Canada’s GDP so far, and pot stocks including Cronos Group, Aurora Cannabis and Organigram jumped more than three per cent today.