Canada Rolls Out A ‘$1 Billion’ Privatized Medical Marijuana Industry

Still, Portland captain Will Johnson is not on the roster. The Timbers, who are in the thick of the playoff race in MLS’s Western Conference, have games Oct. 13 and 19. All 21 players selected featured in Floro’s first camp in Spain last month as Canadian manager. Canada played No. 150 Mauritania twice during that camp, losing 1-0 and tying 0-0. The Spaniard has also summoned Michael Petrasso and Dylan Carreiro from Queens Park Rangers’ Elite Development Squad to take part in the training camp. “This camp and match against Australia will be important as we continue to work on establishing our team’s tactical structure,” Floro said in a statement. Canada last played Australia in a 1993 FIFA World Cup qualifier when Canada was eliminated from contention on penalty kicks. Craven Cottage is the West London home to English Premier League side Fulham. — Canada roster Goalkeepers: Milan Borjan, Sivasspor (Turkey); Lars Hirschfeld, Valerenga Fotball (Norway).

Canada Stocks Fall as Oil Shares Slide Amid U.S. Shutdown

and Telus Corp. dropped more than 0.8 percent to pace declines among phone stocks. Semafo Inc. jumped 6.7 percent as gold rebounded. Paladin Energy Ltd. added 6.4 percent after reporting cost-cutting plans. Air Canada gained 4 percent after winning a pair of slots for flights to a Tokyo airport. BlackBerry Ltd. reversed losses after a report that the company has drawn the interest of Cerberus Capital Management LP. The Standard & Poors/TSX Composite Index (SPTSX) fell 8.44 points, or 0.1 percent, to 12,839 at 4 p.m. in Toronto. The index has gained 3.3 percent this year for the third-worst performance among developed markets, ahead of only Hong Kong and Singapore . Trading volume was in line with the 30-day average today. There was a lot of buying yesterday that was jumping the gun, Bob Decker , a fund manager with Aurion Capital Management, said in a phone interview from Toronto. His firm manages about C$6 billion ($5.81 billion).

Patients with doctor approval could grow or have someone else grow small quantities or request limited amounts from Health Canada, the national healthcare department. But the conservative-led government voted earlier this year to effectively scrap that system in favor of a privatebut also strictly regulatedsystem, targeting the flow of legal marijuana into the black market and shedding Health Canadas role in marijuana production. Health Canada will phase out the current system, under which it sells registered users marijuana grown by Prairie Plant Systems , by the end of March. Instead, starting Tuesday, medical marijuana users, or aspiring users, can send in an application directly to sanctioned corporate producers , along with a doctors note (or in some cases, a nurses note). If approved, they can place an order, pay the market price (the black market price is about $10 a gram; officials say the medical marijuana price will drop below that within a year), and wait for the secure courier to deliver their weed. (MORE: Majority of Americans Support Legalization of Marijuana ) There are nearly 40,000 people registered to use the drug under the current system in a country with a tenth the population of the U.S., and the government expects that number to balloonup to 450,000 by 2024and fuel what could become a $1.3 billion domestic pot industry. But the government expects that the privatized system, with only heavily-vetted producers (so far there are two licensed distributors, of at least 156 applications), will help ensure a higher level of oversight. Were fairly confident that well have a healthy commercial industry in time, Sophie Galarneau, a senior official with Health Canada, told the Canadian Press. Its a whole other ball game. The new regulations have failed to win over advocates for legalized marijuana, who have faced strong resistance from the conservative government led by Prime Minister Stephen Harper. In November, even as two states in the United States voted to legalize recreational marijuana, the Harper government passed strict minimum penalties for people who grow as few as six marijuana plants. They treat pot like its plutonium, says Blair Longley, head of the single-issue Marijuana Party that fielded five candidates in the 2011 parliamentary elections. Speaking to TIME, Longley says hes concerned the market-based system, whichnixes the right to cheaply grow marijuana at home, will make marijuana less affordable for patients. We always knew that marijuana would get legalized in the worst possible way. Its not a surprise that thats whats happening, Longley says.