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Nova Mentis Life Science Corp. C.LIB

Nova Mentis Life Science Corp is a Canadian-based company focused on building and supporting a diversified portfolio of health and wellness businesses. Through its subsidiary, the company is focused on exploring the anti-inflammatory effects of psilocybin in underexplored metabolic indications such as obesity and diabetes and providing a Health Canada Standard Licensed facility focused on the cultivation of AAAA premium, small batch, terpene rich dominant cultivars cured to perfection.


CSE:LIB - Post by User

Post by Litemuppon Feb 06, 2018 6:33pm
257 Views
Post# 27514991

Legalization Delay

Legalization Delay

Federal officials are predicting the legalization of cannabis will only occur two to three months after Bill C-45 is adopted by Parliament, in order to ensure a smooth transition to an open market for the recreational drug.

Officially, the government is still aiming to legalize cannabis by July 1. However, to achieve that target, the bill would need to be passed by May 1 at the latest, which is unlikely based on the current pace of the Senate's work.

The looming delay is set to be announced later on Tuesday when the federal ministers of Health, Justice and Public Safety appear in front of a special session of the Senate to defend their plans to lift the 95-year-old prohibition on cannabis.

 

Government officials said the actual timetable remains in flux, given the need to pass Bill C-45, implement new regulations and ensure that the industry is ready to comply with the complex requirements.

According to the bill, the date on which cannabis is legalized will be determined by the governor-in-council (in the form of a cabinet decision) after the legislation receives royal assent.

 

A senior official, who spoke on condition of anonymity before the ministers appeared in the Senate, said implementation would take between 8 and 12 weeks after the bill received royal assent.

The transition period following royal assent will allow cannabis producers to develop proper labelling for their products and shipping plans to send their provincially run stores. The producers will have to adhere to new regulations that have not yet been made public.

A number of senators, in addition to provincial officials and law-enforcement authorities, have called for delays in the implementation of legalization to ensure that they are ready from the outset. On Monday, the B.C. government announced that its first standalone government stores are only expected to be selling cannabis by "late summer," meaning they will not be ready by July 1.

Federal officials have told The Globe and Mail that the three ministers, in addition to parliamentary secretary Bill Blair, want to reassure senators that the transition will be done in a "responsible and orderly fashion."

The exact timing for the legalization of cannabis depends on the speed with which the Senate studies and adopts C-45. Any amendment to the proposed legislation would send the bill back to the House of Commons, which could delay its adoption

 
https://www.theglobeandmail.com/news/politics/marijuana-legalization-could-be-delayed-beyond-july-1-government-officials-say/article37871180/?utm_medium=Referrer:+Social+Network+/+Media&utm_campaign=Shared+Web+Article+Links

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