It looks like Canada will become the first G7 nation to legalize recreational cannabis. As a result, the Canadian stock market is poised for a substantial spike this spring when Canadian Prime Minister, Justin Trudeau, plans to implement the new legislation.

Cannabis is quickly becoming the “it” stock to invest in. While initial investments have been tricky due to what feels like perpetual negotiations regarding laws and restrictions, the cannabis stock is still considered to be the most promising investment for turning a profit.

Nothing encompasses this sentiment more than Canadian cannabis holding company, Canopy Growth. Located in Smiths Falls, Ontario, Canopy Growth one of the largest legal cannabis producers in the world.

The founder and CEO of Canopy Growth has apologized to customers over a medical marijuana recall that forced Health Canada to introduce spot checks for banned pesticides at licensed production facilities.

The apology is aimed at customers who bought medical marijuana from the Toronto-based company Mettrum. Canopy Growth took over Mettrum on Feb. 1.

In an email sent Thursday to Mettrum customers, Bruce Linton said new quality assurance practices are now in place.

'I'm sorry you had to go through this'

"I'm sorry you had to go through this. And I will do my best to ensure it doesn't happen again," he wrote in the email seen by CBC News. 

Marijuana is transforming into the darling of daring investors, and the nascent legal weed industry is excited about the prospects for profits. But there are many risks to investing in this tricky business. Canopy Growth, a Canadian cannabis holding company, is representative of the hope and potential woes that go with buying stock in an industry still negotiating existence.

An illegal cannabis dispensary in Toronto has filed a suit in Federal Court to enshrine its right to sell the drug to its patients, alleging Canada’s current mail-order medical marijuana system does not provide reasonable access to pot.

Phytos Apothecary and Wellness Centre alleges that, despite a Federal Court ruling last year overturning the medical marijuana rules to allow patients to grow cannabis at home, the current system still creates “significant and undue burdens” for thousands of sick Canadians trying to get reasonable access to the drug of their choice.

From the moment you enter the security-controlled reception area at MedReleaf, you notice there’s something different about the place.

Perhaps it’s the aroma in the air, reminiscent of marijuana plants, which happen to be growing in the thousands just metres away. Or maybe it’s the smell of money, as in the revenue generated by Canada’s largest medical marijuana producer. It might also be the aroma of Israel’s agri-tech sector, since the Markham, Ont. company is a partner with Tikun Olam, an Israeli firm that’s a pioneer in the development of medical grade marijuana to treat a variety of illnesses.

Marijuana is transforming into the darling of daring investors, and the nascent legal weed industry is excited about the prospects for profits. But there are many risks to investing in this tricky business. Canopy Growth, a Canadian cannabis holding company, is representative of the hope and potential woes that go with buying stock in an industry still negotiating existence.

Tweed Inc. (Tweed or the Company), a wholly-owned subsidiary of Canopy Growth Corporation (TSX: WEED) today announced that it has completed an intensive process of sourcing a diverse genetic seed bank and legally importing it into Canada. Tweed will begin selling cannabis seeds to authorized home growers under the Access to Cannabis for Medical Purposes Regulations in early March.

An investment company is making plans to launch what could be the first exchange-traded fund to profit on marijuana.

The Emerging AgroSphere ETF would give investors an opportunity to buy a group of companies making prescription drugs using cannabis extracts, selling hemp derivatives and other related stocks, fund backer ETF Managers Group LLC said in a filing with the U.S. Securities and Exchange Commission last week.

More than two dozen U.S. states have legalized some form of marijuana for medical or recreational use, though the drug remains illegal at the federal level.

In hemp fields across Canada, farmers spend months planting, watering and weeding the hemp. But when harvest time comes, part of the plant is tossed aside, even though it’s quite valuable.

It’s called cannabidiol, better known as CBD, and it’s contained in the flowering parts and leaves of the hemp plant.

“Just the leaves themselves, we’re not allowed to harvest,” said Keith Jones, the general manager of Rowland Farms.

“We have to just spread them back on the ground.”

Jones manages the largest hemp farm in the world, located in Taber, Alta. He says they’re forced to waste CBD-rich parts of the plant.

“Unfortunately, Health Canada’s regulation only allows us to harvest the seed and the stalk,” he said.

A new study looking at how Canadians use cannabis is being launched by the B.C. Centre on Substance Use.

“The major goal is to understand better why Canadians use cannabis, what are their motivations, and what are the possible harms and benefits,” M-J Milloy, a University of B.C. assistant professor and research scientist at the B.C. Centre for Excellence in HIV/AIDS, which is affiliated with Substance Abuse centre, said in an interview Thursday.

“The data to date describes how many Canadians use cannabis, but the detailed information that scientists and policy-makers will need to evaluate legalization has never been collected.”