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Medical marijuana stocks surged on news of Trudeau's win, with Canopy Growth Corp. (TSXV:CGC) up more than 10 per cent in morning trading.

Licensed producers are preparing for the likelihood that the new government will permit recreational access to the drug as the Liberals have promised — a move that would fuel rapid growth in Canada's burgeoning cannabis industry.

Canopy, a combined company formed by Tweed Marijuana Inc. and Bedrocan Cannabis Corp., was trading at $2.40, up 22 cents on Tuesday. The company's shares have soared more than 40 per cent over the past five days.

"I think what you'll see perhaps, after this election ... is a recognition that there is an opportunity to collect taxes on something that is already being sold into the market illegally or illicitly," said Bruce Linton, the CEO of Canopy Growth Corp.

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