The Liberal Party of Canada wrapped up a three-day convention with a message of hope and renewal after electing a new president and setting the groundwork for its next election campaign.

Mike Crawley narrowly defeated former deputy prime minister Sheila Copps and two others to assume the presidency of the embattled party Sunday.

The race between Crawley and Copps had been too close to call and both sides were unsure which way the ballots would go.

A high-level source told CTV News Channel's Mercedes Stephenson only 26 votes separated the two. There were about 3,000 delegates at the biennial convention in Ottawa.

In his victory speech, Crawley said Liberals want to get down to the "nuts and bolts" of getting inactive riding associations going across the country.

"To be clear that we all want a party with passion and heart . . . that is committed to internal democracy and a high level of integrity," he told delegates gathered at the Ottawa Convention Centre.

Crawley has been active with the federal Liberals since 1985 serving in a variety of posts, including president of the Ontario wing and sitting on the party's national board.

Copps had represented her Hamilton riding both provincially and federally for 23 years before being ousted at a nasty nomination meeting in 2004.

The party president's job is mainly managerial, dealing with riding associations across the country and other issues.

In a potentially risky move that could shape the Liberals' 2015 election platform, delegates voted in favour of legalizing and regulating marijuana, which interim leader Bob Rae immediately endorsed on principle.

The motion passed with 77 per cent support. Until now, Liberals have only called for decriminalization of marijuana, as has the NDP. The ruling Conservatives, on the other hand, have introduced stiffer penalties for marijuana possession.

"Let's face up to it, Canada, the war on drugs has been a complete bust," Rae said in his closing speech, wrapping up the convention on Sunday.

"If you want to be part of a group of free-thinking, innovative, thoughtful, pragmatic, hopeful, positive, happy people, come and join the Liberal party," he said.

"And after the resolution on marijuana today, it's going to be a group of even happier people in the Liberal party," he joked.

The marijuana resolution is not binding on the leader or the party so there's no guarantee the Liberals will actually campaign on the idea of legalizing pot.

A resolution to rid Canada of the monarchy failed to gain support among the Liberal delegates.

Both the marijuana and monarchy resolutions were put forward by the party's youth wing in an effort to revive the Liberals' appeal with bold ideas. The party took a beating in last May's federal election, losing official opposition status to the NDP with only 34 seats.

Delegates also voted to reaffirm a woman's right to choose an abortion, even though it's already enshrined in law by the Supreme Court. The motion also called for equal access to reproductive services and fines for provinces that don't meet guidelines.

Saturday, delegates voted to allow "supporters" to vote for the party as well as card-carrying members. A leadership vote is slated for 2013 to replace Rae, who hasn't ruled out a run for the top job.

Crawley said the 33-member executive will make decisions about leadership rules "over the next few months."

With files from The Canadian Press