Media outlets around the world have begun to pick up on the fact that Canada’s Senate passed a law Thursday legalising recreational marijuana, moving it closer to becoming the first member of the Group of Seven nations to legalise the production, sale and consumption of the drug.
The Bill C-45, known as the Cannabis Act, has passed the Senate with 52 votes for, 30 against and just one abstention after months of debate over the ramifications of legalisation.
Geremy Thomas, CEO of Sativa Investments, the UK’s only medicinal cannabis investment vehicle, said: “Yesterday’s move by Canada’s Senate to extend the use of medicinal cannabis, which has been legal since 2001, to recreational use vindicates further Sativa’s view that acceptance for medical use will become widespread in many key markets across the globe, including the UK.
Sativa is the only medicinal cannabis investment vehicle in the UK and is uniquely placed to give UK investors the opportunity to access what is an ever-expanding overseas market and one that is more than likely to spread throughout Europe, including the UK.”
Sativa Investments Plc (NEX:SATI) will look for well-placed opportunities within the dynamic regulatory environment of the Medicinal Cannabis sector and the Company’s investment strategy will focus on the production, testing and compliance, research and development, including pharmacology, commercialisation and sales and marketing of Medicinal Cannabis in jurisdictions where it is regulatorily accepted, with an initial focus on Canada. The Company has committed to an independent legal review prior to each investment to verify compliance with the prevailing regulatory environment. The Company’s equity interest in a proposed investment may range from a minority position, to a controlling interest, or to 100 per cent ownership. The ventures that Sativa intends to acquire can either be public or private.
The Company’s Board and Medical Cannabis Advisory Board have a combined 60 years’ industry experience with strong and extensive contacts in the industry, with significant pharmaceutical strength and experience. Their extensive skills range from capital fund raisings, medical research, and start-ups, to pharmaceutical development.