Langley firm walks back talk about commercializing cocaine; Victoria company also has limited cocaine licence

A B.C. company that received federal approval to produce and sell cocaine has backed away from a previous statement that had outlined plans to commercialize the controlled substance. And it emerged that a Victoria firm has received a similar approval for cocaine, opium and MDMA, also known as ecstasy.

Health Canada approved Adastra Labs’ licence amendment on Feb. 17 to allow the production, and limited sale and distribution of cocaine. Under the licence, Adastra cannot produce more than 250 grams of cocaine in 2023. Scrutiny of the issue began Thursday when B.C. Opposition leader Kevin Falcon brought up Adastra’s original statement on commercialization plans during question period at the provincial legislature. The issue quickly triggered responses from both Prime Minister Justin Trudeau and B.C. Premier David Eby.

Trudeau said commercializing decriminalized cocaine “is not something that this government is looking at furthering.” In a statement, Health Canada says it “thoroughly reviews applications” to ensure licensees follow all existing policies on public health and safety. B.C.’s drug decriminalization policy went into effect at the end of January, allowing individuals who are 18 and over to possess up to 2.5 grams of opioids, cocaine, methamphetamine and MDMA without criminal penalties.

Securities regulators should examine whether Adastra Holdings Ltd. purposefully misled the public to influence its share price.

Ask anyone - Michael Forbes is a shady piece of 💩, greedy for 💰. FORBESPHARMACY is going to evaluate how the commercialization of cocaine fits in with its business model in an effort to position itself to support the demand for a safe supply? Really?!

Stick with real wholesome pharmaceutical companies like Purdue and OxyContin

We are being poisoned and our lives are being destroyed bit by bit by the BCNDP and federal Liberals, as directed by their Chinese overlords. 🇨🇳

Adastra is likely to be hit with a class action suit for its statement yesterday. If you look at the stock’s activity it’s very likely that key figures made a lot of money on their pump & dump. $XTRX

Now our politicians can be productive again without the fear of being poisoned!!!

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