Shares of marijuana-related companies sold off Thursday amid industry uncertainty in the wake of the release of the federal government’s legislation aimed at legalizing recreational marijuana.
On the Toronto Stock Exchange, shares in Canopy Growth Corp., Canada’s largest publicly traded marijuana producer, closed down 3.7 per cent at $9.93. Shares of Aphria Inc., another large player, fell more than eight per cent to finish at $7.21.
Aphria CEO Vic Neufeld said he was hoping for greater clarity with the introduction of the highly anticipated Cannabis Act.
“I think it’s a very good first beginning — little high level at this point in time and a lot of blanks to be filled in,” Neufeld said.
“I think that there are a lot of exciting details in terms of what the government is announcing for legalization today,” said Lisa Campbell, a spokesperson for the Cannabis Friendly Business Association.
CBC News – Apr 13, 2017.
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