One of the first movers in the Canadian medical marijuana market, Enertopia Corp (OTCMKTS:ENRT), made a comeback in November 2013.it was then tapped by many third party players to JV and from thereon has recorded a great deal of regulatory confusion as it went about the grueling business of getting licensed producer status.
The impact
As a result, Enertopia was immovable by the recent update from Canada’s Minister of Health related to amendments to MMPR plan, demanding quarterly reports to healthcare licensing entities on how healthcare experts approve the use of pot. It was also applicable to warnings dispersed to industry firms about “normalizing and legitimizing the sale and use of marijuana.” As a matter of fact, since the Ontario Court of Appeal unlocked the water-gates to marijuana back in 2000, the only thing seen regular with Canada’s approach has been a continuous dispute between the governmental regulators and courts.
The verdict
A couple of weeks ago, the Supreme Court of Canada challenged the official government position prohibiting registered patients from taking their medicine in edible forms such as oil or baked goods. It gave the verdict which stated that it is not an offense for registered patients to consume non-dried forms of marijuana. It matched the commonly established concept that edibles are easier and healthier on patients than smoking.
The significance
For Enertopia, which is still assessing the commercial potential of Marijuana edibles and beverage and food products that constitutes drug and nutraceutical bioavailability increasing ingredients, this landmark verdict is of great significance. The riling will support company’s potential future operations and open new sources of revenue.
In last trading session, the stock price of Enertopia Corp (OTCMKTS:ENRT) jumped more than 14% to close the trading session at $0.0320. The gains came at a share volume of 1.70 million compared to average share volume of 220,405.
