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An employee inspects medicinal marijuana buds at Tweed Inc., in Smith Falls, Ont. on Dec. 5, 2016.

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Globe editors have posted this research report with permission of Beacon Securities Ltd. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:

The federal government has committed to introduce "legislation on the legalization and strict regulation of marijuana in spring 2017." While unconfirmed, there is a view among many circles that this could occur on April 20, 2017.

We expect the vast majority of the Task Force's recommendations will be part of legislation. While we do not have a specific start date for recreational sales (we anticipate it could be some time in spring 2018) as certain items such as distribution will need to be ironed out by the provinces, in our view, the introduction of legislation by a majority government will cement the fact that "legalization is happening," which will be positively received by investors.

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