Following a first quarter of highs and lows in the public space, Q2 managed to find some stability for cannabis stocks and even some excitement as legalization in Canada is closer to reality.
After a severe market correction felt around the cannabis markets with Canadian cannabis stocks, Q2 offered a more clear path as the industry continues to mature and Canadian banks continue their entry into the space.
Cannabis investors are becoming more savvy and established financial institutions are starting to offer new standards for the market, where licenses or proposed production facilities won’t cut it alone.
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Here the Investing News Network (INN) offers cannabis investors with an update on the significant developments during the second quarter of 2018. For what happened in Q1 2018, click here to read our first quarter cannabis update.
Cannabis Q2 2018 update: legalization in Canada gets official date
After a back and forth with the Canadian Senate on conditions for the bill, officially Bill C-45 also known as the Cannabis Act, managed to pass deliberation and obtain Royal Assent in June. The act will become law in Canada later this year on October 17.
Canadian Prime Minister Justin Trudeau confirmed the date of legalization was pushed back, which was originally projected around September, due to the provinces and territories requesting more time to properly set up their retail and online models.
“Canada’s capital markets have benefited substantially from foreign money coming into the country, specifically for investment in the cannabis space,” Marc Adesso, a lawyer with a cannabis law focus at Waller Law told INN.
“In my view, full, recreational legalization will only accelerate this movement of funds Continue Reading