Just days after a ribbon-cutting ceremony to celebrate its grand opening, a medical marijuana company in Fort Erie has been purchased by a major player in the burgeoning weed market.

WeedMD Inc (TSX-V:WMD, OTCQX:WDDMF) said Tuesday that it has secured a license from Health Canada to sell cannabis cultivated at its greenhouse in Strathroy, Ontario.

The license allows the Toronto-based company to ship cannabis from the greenhouse to a nearby indoor facility in Aylmer, Ontario, for packaging and distribution to its medical and adult-use customers. The license, granted under the Cannabis Act, was originally issued under the Access to Cannabis for Medical Purposes Regulations.

“We are thrilled to secure approval to begin selling the medical-grade cannabis that we’ve been cultivating at our production facility in Strathroy,” CEO Keith Merker said in a statement. “The company continues to meet its production milestones on schedule and on budget.”

MediPharm Labs Corp (TSXV: LABS) announced today that one of its subsidiaries, MediPharm Labs, received a sales license from Health Canada. As a leading B2B Canadian cannabis producer, MediPharm provides raw materials, processing, and packaging for advance cannabis derivative products.

This has been a game-changing year for the marijuana industry. Last month, Canada became the first industrialized country to legalize recreational weed in the world, and just this past week, two more states -- Utah and Missouri -- legalized cannabis in some capacity. At seemingly every turn, history is being made, and that's usually a great time for investors to pay close attention.

Now that recreational cannabis is legal in Canada, producers are looking forward to what they're calling the "second wave" of legalization — edibles, drinks and vaping products expected to become legal starting next year. 

Bruce Linton, the founder and co-CEO of Canopy Growth, said new products developed by Tweed — the cannabis brand owned by Canopy and based in Smiths Falls — represent the next big opportunity.

"I think if you're not preparing things two years in advance, you're never ready," he said. 

"Right now, none of the chocolate or gummy bears or beverages can be prepared or sold, but we're doing experiments on how to make them."

Drink companies and other investors have begun making moves to profit from the cannabis industry through a series of M&A deals. In Canada, the recent legislation of use of recreational cannabis use has given a boost to the adoption of the industry in North America, as well as the US midtermswhich saw Attorney General Jeff Sessions (opposed to legalization of cannabis) step down.

During our last review of GrowGeneration Corp (OTCMKTS:GRWG) – which is available for readers here – we explored the hypothesis that the firm was on an expansionary strategy into the cannabis sector. Back then, their goal was to venture into medical marijuana and their strategy was mainly backed by the acquisition of one of the largest Michigan-based firms so as to boost their top line. The result for them was impressive as their venture into the segment indeed weighed in on their revenue base.

Cannabis producer Aurora Cannabis Inc. reported a surge in revenues between July and September, and "strong" recreational pot sales since Canada legalized marijuana for adult use last month.

The Edmonton-based company posted revenue in what was the first quarter of the company's 2019 financial year of $29.7 million, more than triple the $8.2 million during the same period ended Sept. 30 last year.

Aurora's latest results did not encompass sales of recreational cannabis after Canada legalized pot for adult use on Oct. 17, but its chief executive Terry Booth said the company's initial roll-out has been a "success" thus far. The company said Aurora ranked among the top selling products and brands in many of the provinces the it committed to supplying.

The pharmaceutical industry has done it for years, officially to educate doctors, unofficially to convince them to prescribe more of their medicines.

Now the practice of company-sponsored seminars by specialists known in the drug business as “key opinion leaders” — and criticized as salespeople in disguise – has come to the burgeoning world of medical cannabis.

Shoppers Drug Mart is running a series of events across the country to teach prescribers about the drug, as the 1,300-store chain prepares to become a major marijuana retailer.

Investors interested in marijuana stocks are breathing sighs of relief that October is over. Most marijuana stocks took a beating during the month. The biggest marijuana stock winner so far this year, Tilray (NASDAQ:TLRY), saw its share price plunge 34% during October. Not every marijuana stock suffered, though. MariMed (NASDAQOTH:MRMD), for example, gained nearly 19% -- the second best performance among marijuana stocks in the month.