Cannabis Facts

Cannabis in Canada

Cannabis in Canada is legal for both recreational and medical purposes
The federal Cannabis Act came into effect on October 17, 2018, and made Canada the second country in the world, after Uruguay, to formally legalize the cultivation, possession, acquisition and consumption of cannabis and its by-products, the first G7 and G20 nation to do so .
On May 8, 2019, Health Canada published a statement concerning changes to the licensing process for cannabis whereby new license applications to cultivate, process or sell cannabis must have a fully constructed site meeting Cannabis Regulation requirements which Navaya met and exceeded.
When it comes to participating in the legal cannabis market, consumers have demonstrated a strong preference for brick-and-mortar shopping and in particular, provinces with the most stores reported the highest overall sales figures
Statistics Canada report Canadian sales of legal recreational cannabis totaled 2.6 billion Canadian dollars ($2.08 billion) in 2020
Canada’s 2020 total represents a 120% increase over 2019 cannabis sales, which were valued at CA$1.2 billion and Statistics Canada has estimated that legal sales of recreational cannabis overtook illicit sales for the first time during the third quarter of 2020

Rapidly Growing Industry

$ 0 B

Canadian market ^[1]

$ 0 B

United States of America market ^[2]

$ 0 B

European market ^[3]

^[1] Source BMO market size by 2025 if medical and recreational uses are legalized
^[2] Source Cowen market size by 2030
^[3] Source Eight Capital market size by 2024