October 17, 2018, marks the first official day when Canadians can purchase cannabis for adult use. We at Neptune are excited to be part of history in the making!
What does cannabis legalization mean?
Recreational cannabis consumption is legal for every Canadian adult, but each province has made their own decisions about minimum age and many other aspects of this new legal regime including:
- Where and how cannabis will be sold
- Where cannabis can be consumed
- Lowering possession limits
- Requirements for personal cultivation
Not all forms of cannabis are legal. What will be allowed and available right away is:
- Dried cannabis
- Oral sprays
Within a year of October 17th, the federal government is expected to complete the regulatory framework for concentrated extracts including vape pens, edibles, topicals and beverages.
As the cannabis market and attendant regulations evolve, Neptune plans to expand its oils and extracts offer to meet demand for innovative products in accordance with the regulation.
According to BDS analytics published in June 2018, flower dominated Colorado sales in 2014 whereas they now merely represented around 44% of first-quarter sales in 2018*[i]. Consumers are moving away from smokable products as they are looking for healthier and more discrete alternatives.
For more information on cannabis use by province, consult the Canadian government website HERE.
Congratulations Canada! On October 17th, 2018, we begin a new chapter.