Canada Readies to Unlock Billion Dollar Legal Marijuana Industry

PALM BEACH, Florida, June 21, 2018 /PRNewswire/ --

MarketNewsUpdates.com News Commentary 

Big news to the north as Canada has become the second nation in the world to legalize marijuana. After the Senate passed a "historic" bill on Tuesday recreational marijuana use will soon be legal in the country. The Canadian Bill C-45, also known as the Cannabis Act, originates from a campaign promise by Prime Minister Trudeau to keep marijuana away from underage users and reduce related crime. The Prime Minister announced on Wednesday that Canadians will be able to consume marijuana recreationally without criminal penalties starting on Oct. 17, 2018 - many months later than the government's initial target date. With sales beginning soon the economic impact will likely be quite significant. Canada's cannabis market will pass $7 billion by 2019 and legal sales will make up more than half that amount, according to a report this month by Deloitte. Active Cannabis companies today include: MYM Nutraceuticals Inc. (CSE: MYM) (OTC: MYMMF), Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), Aphria Inc. (OTC: APHQF) (TSX: APH), Aurora Cannabis Inc. (OTC: ACBFF) (TSX: ACB), The Supreme Cannabis Company, Inc. (OTC: SPRWF) (TSX-V: FIRE).

MYM Nutraceuticals Inc. (OTCQB: MYMMF) (CSE: MYM.CN) BREAKING NEWS: MYM Nutraceuticals is pleased to announce that, together with the Mayor of Weedon, Mr. Richard Tanguay, have officially broken ground on the construction of its 1.5 million square foot greenhouse project in Weedon, Quebec. Work has started on clearing the land and constructing two buildings, including an initial greenhouse that will be used to support the request for certification to Health Canada which is part of the current license application. This phase will be completed by the end of 2018. Photos of the event can be found at http://www.mym.ca/weedon-quebec

The Weedon mayor expressed his elation to see that construction has finally began. "The municipality of Weedon will become one of the most important production sites for medical cannabis in the world. Thinking of all the new jobs and businesses that the facility will bring to the region fills me with hope. I couldn't be happier than today."

The Chairman of the Board for MYM Nutraceuticals, Mr. Erick Factor, was delighted to see the project taking shape. "Since the announcement of this project in June 2017, we have spared no effort to achieve this goal as quickly as possible. Today we take the first step in helping Quebec get its fair share of cannabis production in Canada. We will emerge as a powerful engine for economic development in the region by creating 400 new direct jobs while generating significant tax revenues for the government of Quebec and Canada. We are proud to be here in Quebec and Weedon, the hospitality of the Eastern Townships has been incredible. A heartfelt thank you to everyone involved."