Forget About Oil. Alberta is Poised to Become the Province of Marijuana
The friendly market takeover of CanniMed Therapeutics by Aurora Cannabis will have a significant impact on the cannabis production and distribution landscape in Alberta.
And though predicting whether the development will be malignant or benign is difficult to do, the takeover is the largest deal in the budding sector to date and will have a tangible effect on provincial bureaucracy, government coffers and Alberta’s economy, both as it affects Albertans and as it relates to Canada as a whole. As such, and for better or worse, it will at least marginally shape the social fabric of the province.
Alberta was the first province to begin its policy development in preparation for cannabis legalization. The government began by commissioning a massive evidence synthesis (the Cannabis Evidence Series) covering five key topics: health effects and harms, medical cannabis, advertisement and communication regulations, experience with legalization in other jurisdictions and the current Canadian context. This fed directly into the Alberta Cannabis Framework, which is the beginning of the proposed legislation that will eventually regulate cannabis production, sales and use. The framework lays one of most unrestricted private markets of all the provinces so far, placing the province on a path to replace oil with pot.
– Read the entire article at The Globe and Mail.