Ascent Industries and Harvest One Cannabis hail Canada's regulatory milestone as recreational pot becomes legal

Cannabis groups in Canada have today welcomed the huge milestone in the country’s history – the legalization of the plant for adult use.

Canada has become (on Octber 17) the first G7 country to legalize the recreational use of cannabis nationally and the only country with a legalized regime for both medical and adult use.

“On this historic occasion, we stand at the beginning of a global shift in terms of how governments and societies deal with cannabis…,” said Philip Campbell, CEO of Ascent Industries Corp (CSE:ASNT).

“Ascent is proud to be a participant in this nascent global industry, and proud that Canada and the Canadian government have set the standard globally for cannabis legalization,” he added.

“The Ascent team is confident that Canada will remain a leader in the global cannabis sector, and that citizens not only in Canada, but around the world, will benefit from the increasing pace of research exploring the many potential beneficial medical products which can be derived from cannabis.”

A licensed producer and dealer, Ascent operations currently include licenced facilities in British Columbia and in Oregon and Nevada in the USA.

Meanwhile, Harvest One Cannabis Inc (CVE:HVT), a cannabis-focused lifestyle and wellness product firm,  congratulated the federal and provincial governments, and the industry as a whole on the achievement.

Under supply deals, the firm’s wholly-owned subsidiary, United Greeneries, has delivered its , craft cannabis to British Columbia, Ontario, Manitoba and Saskatchewan, it said.

“This is an amazing day for our country in terms of progressive thought,” said Grant Froese, CEO of Harvest One.

“We have shown the world that Canada is not afraid to make innovative and bold choices. I’m proud to be part of Harvest One and the Canadian cannabis industry as a whole. Have fun. Be safe. Stay happy.”

Story by ProactiveInvestors