The regulator overseeing Ontario’s legal cannabis stores says a dozen licence applicants who participated in the latest lottery have been disqualified.

The Alcohol and Gaming Commission of Ontario held a lottery for the right to apply for one of the next 42 cannabis store licences earlier this month.

Those who won the lottery had until Wednesday to submit the documents and the regulator says 12 failed to do so and were disqualified. One withdrew the application.

The AGCO says today all of the disqualified and withdrawn applicants are now being replaced by people on a waiting list.

The agency says 29 applicants provided the required documents which are now being reviewed, a process that includes background and police checks.

Curaleaf posts Q2 profits, highlights guidance of US$1B in revenue next fiscal year 

HEXO Corp. (TSX:HEXO) (NYSE:HEXO), one of the Canadian cannabis stocks, is a consumer-packaged goods cannabis company that creates and distributes innovative products to the international cannabis market. The Company utilizes a hub and spoke business strategy that involves partnerships with Fortune 500 companies. Through this strategy, HEXO brings its brand value, cannabinoid isolation technology, licensed infrastructure and regulatory capability to established companies, leveraging their distribution networks and capacity.

Tilray Inc. is buying marijuana retailer 420 Investments Ltd. of Calgary for $110 million, the British Columbia-based cannabis researcher and distributor said.

The all-stock deal through a Tilray subsidiary, High Park Holdings Ltd., is expected to close early next year, according to a statement by Tilray. The first $70 million in stock is payable on the close of the deal with the remaining $40 million subject to performance milestones.

Like the dot-com boom, it is difficult to pick which cannabis stocks will come out on top. With bullish estimates for many of these companies along with a flurry of activity taking place in the space, it can be difficult for investors to pinpoint which stocks will be the biggest winners.

Often, it’s best to leave this guessing game to the experts. Today we have identified four Canadian marijuana stocks that are among Wall Street’s favourites in the sector. These stocks are estimated to generate returns of more 100%, according to analyst forecasts.

It can be frustrating seeing your stocks fall, and in the last few months that’s pretty much been the cannabis industry as a whole. While a recession certainly could be playing a factor, it seems the honeymoon phase is over for investors looking to get in on the green stuff. With huge growth expected in this industry, some projecting US$200 billion in annual sales in the next decade, some investors might be wondering when they’ll start seeing the benefit of their investment.

EnWave (TSXV:ENW) (OTC:NWVCF) reported third-quarter results for fiscal 2019 after the market close on Wednesday, Aug. 28. 

To a number of Wall Street pundits, the marijuana industry is the greatest thing since sliced bread. After delivering $10.9 billion in legal worldwide sales in 2018, the global pot industry could see sales soar to $200 billion in a decade. For those curious, that's a cool compound annual growth rate of 34%, which is something investors are used to seeing with the rise of cutting-edge technology, and not the legalization of a plant.

It’s already time to start thinking about portfolio investment options for the next year, and among the various asset class options available are some yester-year millionaire-maker growth options still available for Canadian investors in 2020. Cannabis stocks and cryptocurrencies like Bitcoin have made big headlines over the past three years. Which among the two “industries” could be the best place for capital growth next year?

Cannabis stocks remain under considerable pressure. Regulatory investigations, poor financial results, and slower-than-anticipated market growth have been weighing on the industry. Leading cultivator Aphria(TSX:APHA)(NYSE:APHA) was the target of a scathing research report released towards the end of 2018, which claimed that the company was essentially a fraud.