Launched officially on Tuesday, the Association québécoise de l’industrie du cannabis (AQIC) also wants to have a voice in the debate around the legal framework of the substance, the recreational consumption of which has been legal since last October.

Cannabis Business president Michel Timperio, who also directs the cannabis division of Neptune Wellness Solutions, believes there is still a lot of stigma surrounding the industry.

“People have to realize that the cannabis industry is not only what is sold at the Société québécoise du cannabis (SQDC),” he explained in an interview with Presse Canadienne. “There is a long way to go.”

It’s a good day for farmers all across Ontario, especially for those growing cannabis as their primary crop.

Ontario’s Ministry of Agriculture has announced that cannabis growers in the province will now be able to apply for a variety of federal and provincial grants.

This will be huge for all federally licensed growers, as many of them have found a home in Ontario — of 163 licensed facilities nationwide, Ontario is home to nearly half.

Growers can see the full list of grants for production, as well as the full list of grants for those in the processing business.

Canopy’s revenue to top $1 billion this fiscal year, but no clear path to profitability: CEO

This month, Canada will observe six months since marijuana was legalized. The culmination of a Justin Trudeau campaign promise made in 2015 took longer than originally anticipated and has endured its share of setbacks.

At this point, there is a minuscule number of stand-alone marijuana stores operating across the country and most legal sales are being conducted through the mail. British Columbia’s government calculated it would garner $200 million in cannabis tax revenue over the first three years after legalization, but the figure was recently revised to “just” $68 million. The slow process to open stores is partly to blame for this alteration.

What happened

Shares of Village Farms International (NASDAQ:VFF) closed Tuesday trading down 10.9%. The drop came after short-seller Citron Research published a scathing report online expressing the view that the marijuana producer is "nothing more than a stock promotion" that warrants investigation by the U.S. Securities and Exchange Commission.

So far, only one Canadian marijuana producer has reported quarterly results that include sales in 2019. But when Aphria (NYSE:APHA) announced its results for the quarter ended Feb. 28, it wasn't what investors had hoped for.

At the moment, there's simply no industry growing faster, or garnering more attention from Wall Street and investors, than marijuana. Following the legalization of recreational weed in Canada, and now having over 40 countries worldwide with some sort of medical cannabis legalization in place, the sky appears to be the limit for pot and marijuana stocks.

Since the beginning of the year, most marijuana stocks have been on fire. Through this past weekend, the Horizons Marijuana Life Sciences ETF, the first-ever tradable cannabis exchange-traded fund, had gained 49%, year-to-date, compared with "only" 16% for the broad-based S&P 500.

The impetus for this rally is Canada's legalization of recreational marijuana in October, as well as continued legalizations in the United States and around the world. Today, more than 40 countries worldwide have given the green light to cannabis in some capacity, and the sky appears to be the limit for marijuana stocks.

Although all eyes in the cannabis sector are on Canada, the reality is that the remaining global market has far higher potential that Canada’s legalization ever will. However, Canadian cannabis companies are preparing their move for global conquest.

The size of the global legal marijuana market is expected to rise to $63.5 billion by 2024, according to a study put out by Ameri Research.

Aphria Inc.'s first full quarter of sales since the legalization of recreational cannabis fell short of investor expectations after the company posted a steep quarterly loss, a $50-million impairment charge related to its Latin America operations and announced that Green Growth Brands had dropped its hostile takeover offer.

Although the Leamington, Ont.-based pot producer saw net revenue soar by more than 600 per cent to $73.8 million during its third quarter ended Feb. 28, it posted a net loss of $108.2 million. That's compared with net revenues of $10.3 million and net profits of $12.9 million during the same period a year earlier.