Canada column for
Sunday, Oct. 14/18
THE CANADIAN REPORT
(c) By Jim Fox
It’s being called a
“brave new world” as marijuana for recreational use becomes legal throughout
Canada on Wednesday.
In anticipation,
cannabis producer Aphria Inc. chief executive Vic Neufeld advises there will be
shortages in both stores and online sales sites.
Sales will be by government-run
and private retailers who are aware there will be product shortfalls initially.
Estimated demand
across Canada is about 675 U.S. tons this quarter year, with the forecasted
available marijuana supply at 160 tons, said a report by the C.D. Howe
Institute.
There are also some
concerns about people crossing the border to the U.S. if they use marijuana or
work for a cannabis-related company.
At the Canada-U.S.
border at Ontario’s Thousands Islands crossing, there is a new sign saying “No
cannabis at border crossings.”
The government
warns that taking pot in any form across Canada’s international borders will
remain illegal and can result in criminal penalties.
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Bands of heavy rain are lashing parts of Atlantic Canada from the
remnants of the history-making Hurricane Michael.
The Weather Network
reports that Michael “isn’t quite finished with its journey in North America.”
There’s a “glancing
blow on parts of Atlantic Canada” this weekend with areas of Nova Scotia and
Newfoundland getting some significant accumulations.
That’s on top of
locally heavy rain that fell Thursday and Friday from a separate weather
system.
---
News in brief:
- Ontario beer
drinkers are giving a toast to new Ontario Premier Doug Ford for cancelling a
planned three-cent tax increase on the equivalent of about a U.S. quart of
beer. The “penny from heaven” order rolls back the former Liberals government’s
planned increase. The Conservative Ford also earlier got a couple of breweries
to introduce “buck-a-bottle” beer to help the “hard-working people of Ontario.”
- A family feud has
become known as business magnate Frank Stronach is suing his daughter, two
grandchildren and others seeking $520 million in compensation. It deals with
the control and direction of the family firm, Magna International, a globally
giant auto-parts company. Stronach alleges that daughter Belinda Stronach,
president and chair, and chief executive Alon Ossip mismanaged the family’s
assets and conspired to take control of them.
---
Facts and figures:
Canada’s dollar is
lower at 76.66 cents U.S. while the U.S. dollar returns $1.304 Canadian before bank
exchange fees.
The Bank of Canada’s
key interest rate is unchanged at 1.5 percent while the prime-lending rate is 3.7
percent.
Stock markets are lower, with the Toronto
exchange index at 15,354 points while the TSX Venture index is 694 points.
The average price for gas in Canada is lower at
$1.29 a liter or $4.90 (Canadian) for a U.S. gallon.
Lotto 6/49: (Oct. 10) 3, 15, 16, 20, 22 and 23; bonus 24.
(Oct. 6) 20, 23, 24, 33, 37 and 48; bonus 22. Lotto Max: (Oct. 5) 8, 9,
12, 20, 22, 27 and 30; bonus 28.
---
Regional briefs:
- Michelle Hanson,
35, an Ontario mother whose son Kaden Young, 3, was swept away and drowned has
been arrested for driving while impaired, dangerous driving and criminal negligence
in the incident. Police said the woman drove around road-closed barricades and
wound up in the Grand River last Feb. 21. His body was found two months later.
- Some homeowners have
that sinking feeling in Sechelt, British Columbia over sinkholes spreading
through their subdivision. Ross and Erin Storey and their family had to move
when their house was condemned and about 12 more homes could become potentially
worthless. Lawsuits and mediation are attempting to resolve the liability
issues and find a solution that the local government said would be costly and
not guaranteed.
-30-
Jim Fox can be reached at canadareport@hotmail.com
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