Emblem Corp EMMBF

RE:Heard some bad stuff on 680 News today....

[ScienceRules]

Bill Blair (the guy that Trudeau put in charge of drafting the bill) said:

"I'm pretty reluctant to suggest a specific time frame, frankly because I don't know how long this will take in each of our 10 provinces and 3 territories."

And

“We will take as much time as it takes to do it right,” 

This simply is NOT a deliberate attempt to slow down legalization. I just see this as an honest answer to a difficult question. I would be concerned if he said something like, “We aren’t close to coming up with a draft of the bill and I don’t expect the final product to be submitted to the House of Commons this year.” Like always, the market is overreacting to inconclusive statements. To make matters worse, the media is releasing headlines like:

“Pot czar casts doubt on imminent legalization as marijuana companies shoulder ‘extreme valuations’.”

And

“Legalization limbo: marijuana in grey area while government prepares change in the law”

Headlines like this are clearly making speculations on Bill’s comments. Legalization is not in a “grey area” and we all knew that legalization isn’t “imminent”. Even Trudeau has publicly re-iterated that they hope to get a bill to the House of Commons this spring, not tomorrow. Bill did not say anything to contradict the Liberal’s official position on this.

In addition, the Liberals hold a majority in both the House of Commons and Senate. Once this bill is submitted, the process should not take any longer than 3 months (this is typical of bills that have support in both bodies of government). If the Liberals had a minority government or if the Senate was mostly conservative, then yes, this could take forever. There is certainly a question mark on how quickly the different provinces will implement this but this has always been a reality of the process. Perhaps someone more familiar can comment on the expected timeframe for the big markets like Ottawa, Quebec, and BC.

Anyways… this is classic market overreaction predicated by the media putting a catchy spin on the facts. Dare I say “alternative facts”? lol