As we approach the one-year anniversary of cannabis legalization in this country, it’s important to reflect on the bumpy road we’ve encountered since making what might be considered one of the largest social policy changes in Canadian history.

Even though it's legal, the big banks are balking at weed money, say some cannabis sellers in Newfoundland and Labrador.

Thomas H. Clarke's independent cannabis shop in Portugal Cove-St. Phillip's went cash-only Wednesday after being cut off by the bank. 

Clarke opened an account with the Royal Bank of Canada before getting his cannabis licence, saying he was a cannabis accessories wholesaler. A few weeks ago, Clarke said, RBC deemed his business "high risk" and sent a letter saying it would be cancelling his account. 

That sent Clarke on a hunt for a new financial institution. But, he said, every bank he went to turned him down. 

It's been nearly one year since cannabis was legalized in Canada and a professor at the University of Northern British Columbia says knowing who is using it is important to develop sound policy aimed at reducing cannabis-related harms.

Russ Callaghan, medical professor at UNBC, is the lead author of an article in the forthcoming December issue of the Journal of Drug and Alcohol Dependence that identifies who consumes the most cannabis in Canada.

Callaghan and a team of researchers looked at data from the federal government's 2018 National Cannabis Survey to find out who are the biggest users and how that should inform public policy.

Large players have gobbled smaller rivals and are dominating Canada’s legal cannabis industry, but small firms may be about to have their day in the sun.

Many entrepreneurs believe that when Canada legalizes cannabis edibles, drinks, concentrates and topicals in October, benefits will flow to smaller ventures.

Deloitte estimates in a recent report that the second wave of cannabis legalization, or Cannabis 2.0, will open a $2.7 billion market in Canada, with cannabis-extract-based products, including edibles, accounting for about $1.6 billion.

Canadian pot smokers are finally getting some price relief almost a year after the country legalized recreational use. But it’s still a lot cheaper to get the drug from illegal dealers.

A gram of cannabis purchased from government-sanctioned sellers cost $10.23 in the third quarter, down 3.9 per cent from the prior three-month period, according to Statistics Canada. At the same time, the price for a gram of pot bought in the illicit market fell 5.9 per cent to $5.59.

If cannabis investors were waiting for a sign that the beleaguered industry is turning the corner, Tuesday wasn’t that day.

Last year, nearly every cannabis company was racing to find a big-time partner. Cronos Group, for example, secured a $1.8 billion deal with tobacco giant Altria Group. Cronos stock ran more than 100% on the news, rising to a peak market cap of $20 billion. Canopy Growth, meanwhile, locked down a $4 billion capital infusion from Constellation Brands, causing shares to skyrocket.

Canadian cannabis company Sundial Growers was hit with a class-action lawsuit in the United States over misleading investors ahead of its initial public offering in August.

The lawsuit, filed on behalf of investors who purchased Sundial shares during the IPO, is based on “allegations that Sundial issued materially misleading information to the investing public,” which refers to claims that a customer returned over half a ton of poor-quality marijuana to the company.