CannaRoyalty (CSE:CRZ; OTCQX:CNNRF) provided their response to the announcement by the Canadian government regarding their approach to cannabis regulation next year, once cannabis becomes fully legal.
As quoted in the press release:
The Proposed Regulations contemplate a variety of cannabis product forms not currently allowable under the Access to Cannabis for Medical Purposes Regulations (the “ACMPR”), including: edible products containing cannabis (like food or beverages), pre-rolls, and cannabis concentrates including vaporizing solutions. The Proposed Regulations suggest these product forms are to be permitted after one year of the proposed Cannabis Act coming into effect, which is expected on or before July 1st, 2018.
The Proposed Regulations provide a platform for CannaRoyalty to commercialize its products, brands, intellectual property, and know-how into the growing Canadian market.
“We applaud Health Canada for its progressive stance toward the evolution of the legal cannabis market in Canada,” said Marc Lustig, CEO of CannaRoyalty. “It has long been our expectation that Canada would look to more advanced legal cannabis markets in the US to frame its policy. The contemplated inclusion of more progressive product forms such as edibles and concentrates, is very positive news for consumers, the overall cannabis market, and for CannaRoyalty.”