Valens GroWorks Corporation (CSE:VGW) announced Thursday that it has signed a multi-year extraction services agreement to provide cannabis and hemp extraction services to HEXO Corp.(TSX:HEXO) (NYSEAMERICAN:HEXO), a leading cannabis producer and consumer goods cannabis company.

The agreement has an initial two-year term from the date of the first shipment, with HEXO supplying Valens with an annual minimum of 30,000 kilograms in the first year and 50,000 kilograms of cannabis and hemp biomass in the second year.

Canopy Growth (NYSE:CGC) has surged higher on a deal that will position the firm to buy U.S.-based Acreage Holdings (OTCMKTS:ACRGF).

The agreement, contingent on the U.S. legalizing marijuana at the federal level, would position Canopy as the leading cannabis company in the U.S. Unfortunately for investors, Canopy Growth is not CGC stock.

With CGC trading at bubble-like multiples and the challenges facing marijuana stocks and the market in general, I would not buy Canopy Growth stock on the proposed Acreage deal.

Cannabis retailers in Ontario who have failed to open their stores by a government-set deadline are facing a new round of financial penalties.

In all, 11 pot retailers have been fined $12,500 each for not opening their stores by April 15.

Twenty-five retailers were selected through a government lottery to open the first brick-and-mortar cannabis stores on April 1, but less than half met the deadline.

The Alcohol and Gaming Commission of Ontario established a system of escalating penalties for retailers who didn't start serving customers on time.

The agency says it has drawn down on letters of credit submitted by the licencees -- some for a second time -- taking $12,500 from the $50,000 initially provided.

It’s been almost six months since cannabis was legalized nationwide, and marijuana stocks are once again on the rise.

One, however, is not rising with the tide. Over the past month, shares of Aphria Inc (TSX:APHA)(NYSE:APHA) have fallen 18.8%, with a particularly sharp sell-off having occurred in the past week. If you zoom out to a longer time horizon, the losses have been even greater: since November 7, 2018, the stock is down 39%.

Today we have identified four Canadian marijuana stocks that are trading at a discount to peers based on 2020E sales. The 2020E industry average of EV/Sales multiple is currently 8.1x.

With Canadian marijuana stocks being volatile, we believe these stocks will provide relative stability in the future through their low EV/Sales multiple.

The four companies listed have an average EV/Sales multiple of 2.5x, trading at three times the discount compared to its peers.

The world is "going green" at an incredibly fast pace, and investors have taken notice. The rise of the legal cannabis industry has been undeniable, with global sales growing to $12.2 billion in 2018, and worldwide revenue forecast to rise to more than $31 billion by 2022. Ultimately, we could be looking at an industry that rivals soda in terms of annual sales potential.

It is no secret that the cannabis market has been growing at an alarming rate in the last few years, with analysts predicting even more growth to come in the next four years.

This increase in popularity has also caused a number of companies to enter the cannabis space in hopes of gaining a piece of the billion dollar market.

As Canadian cannabis companies increasingly look to expand in burgeoning European markets, British Columbia-based Tilray(NASDAQ:TLRY) today held a ribbon cutting ceremony for the launch of a campus in the European Union (EU).   Located in Cantanhede, Portugal, the facility just completed a successful indoor harvest that was celebrated with a tour featuring local government officials and Canadian healthcare professionals.  

The $20 million campus features research rooms, outdoor and indoor grow space, and cultivation and packaging areas for distributing medical marijuana.  

Tilray’s Chief Executive Order Brendan Kennedy commented on the ribbon cutting ceremony and facility tour: 

Money and marijuana: two green substances that investors seemingly can’t get enough of right now. Since the year began, the Horizons Marijuana Life Sciences ETF, which holds an assortment of roughly four dozen pot stocks of various weightings, has nearly tripled the performance of the broad-based S&P 500 (which is also having its best start to a year in decades). With global weed sales hitting $12.2 billion in 2018, and slated to grow 38% in 2019, according to the duo of Arcview Market Research and BDS Analytics, it’s not surprising that investors have continued to pile into pot stocks.

Once upon a time, Wall Street analysts wouldn't touch a marijuana stock with a 10-foot pole. Now many of the same analysts are cuddling up to quite a few pot stocks.

The latest example of Wall Street's fascination comes from Bank of America. Last week, analyst Christopher Carey initiated coverage on three marijuana stocks with positive views: Aurora Cannabis(NYSE:ACB), Canopy Growth (NYSE:CGC), and HEXO (NYSEMKT:HEXO).