Canadian marijuana producers get boost on stock market after legalization reports

FILE PHOTO - Julia Ratcliffe, a technical consultant with The Bug Factory, a company that supplies insects for natural pest control, examines marijuana plants for pests at the MediJean medical marijuana facility in Richmond, B.C., on March 21, 2014.
Image Credit: THE CANADIAN PRESS/Darryl Dyck

TORONTO - Canadian marijuana stocks got a boost Monday following reports that the federal government will introduce a bill next month that aims to legalize pot by July 1, 2018.

Shares of Canopy Growth Corp. (TSX:WEED) were up 10.12 per cent, or $1.00, to $10.88 per share in late morning trading on the Toronto Stock Exchange.

Aphria (TSX:APH) was up 5.81 per cent, or 36 cents, to $6.56 per share.

Aurora Cannabis (TSXV:ACB) was up 10.09 per cent, or 23 cents, to $2.51.

Citing senior federal sources, CBC News and the Globe and Mail reported that the Liberal government is planning to table legislation ahead of April 20, a symbolic date on which festivals are held annually across the country by marijuana enthusiasts.


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