2018 will be remembered as the year that Canada legalized adult-use cannabis on a national level. As the only G7 country to legalize both medical and adult-use cannabis production, we are certainly leading the global charge. Every day there’s a story around cannabis. Much of the coverage is around the large publicly traded producers, but the reality is that there is an invisible revolution in the cannabis space: the emergence of legal craft growers.

British Columbia is no stranger to grow-ops. Today, every cannabis dispensary in Vancouver and Victoria sources its cannabis from the non-licensed market. This “grey” market has supplied much of the medical and adult-use cannabis in British Columbia for many years.

"Eyes shone, cheeks were flushed, the inner light of universal benevolence broke out on every face in happy, friendly smiles."

That's Aldous Huxley in his 1932 novel Brave New World, describing "soma," a drug provided by the state to help citizens cope in his fictional dystopia.

If you are looking for something to take the sting out of the current round of gloomy news, we now know the date that recreational cannabis will become legal in Canada: Oct. 17. What comes after remains unwritten.

Considering a career in the cannabis business? Now may be the time to take the plunge as licensed marijuana companies ramp up production and rush to fill jobs ahead of pot's legalization in Canada on Oct. 17.

"It's crunch time," said Jordan Sinclair, vice-president of communications for Canopy Growth, based in Smith Falls, Ont. "This is probably the peak insanity for the HR team."

The medical marijuana company has about 1,000 employees, but that number will soon balloon by more than half. It's looking to fill upwards of 600 new positions as the company prepares for the recreational pot market. 

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Cannabis-stock euphoria has returned – and short sellers are salivating like never before

Six months into the explosive rise of Canada’s nascent marijuana industry, Aurora Cannabis Inc. has established itself as a deal-maker. Underlying this growth is a takeover strategy that’s pretty unconventional.

Aurora is the only Canadian marijuana company to launch two billion-dollar takeovers. To secure both, it has relied on the same playbook: Privately negotiating with its targets’ largest shareholders, rather than wooing management or directors.

As Canada announces the legalization of marijuana for recreational use, Steve Hawkins, president and co-CEO of Horizons ETF Management Canada Inc. − which launched the world’s first cannabis exchange-traded fund last year − answers 10 questions posed at the Inside ETFs conference on Thursday in Montreal by Inside ETFs CEO John Swolfs.

What makes your firm differ from all other ETF providers?

We don’t want to sit still, and we like to lead the way when it comes to new products. Everyone is talking about the changes in commodity pools, and we launched hedge fund ETFs six years ago in 2012. We launched the first global marijuana ETF and just filed for a leveraged marijuana ETF. Pushing the boundaries in this market is very important.

Ontario premier-designate Doug Ford says he sees a role for government-run stores in the sale of cannabis but will consult with his caucus and municipalities as he considers opening the market up to more private-sector involvement.

The province’s outgoing Liberal government had planned to give the Liquor Control Board of Ontario (LCBO) a monopoly on the sale of recreational cannabis, with 40 stand-alone stores and online sales set to open this year under a subsidiary of the LCBO called the Ontario Cannabis Store (OCS). Mr. Ford, who will be sworn in on June 29, said on Thursday he is open to changing his predecessor’s plans.

Cannabis producer Tilray Inc. filed for a proposed initial public offering on the Nasdaq stock exchange Wednesday, a day after parliament made a final vote to legalize cannabis nationwide.

The Nanaimo, B.C.-based company says it has not determined the number of shares to be offered or the price range for the offering. It will trade under the symbol TLRY.

The company, one of the largest marijuana producers in Canada yet to go public, says it does not intend to list on any stock exchange in Canada.

Tilray has roots in the U.S., formed as a subsidiary of Seattle-based Privateer Holdings, a private investment firm focused exclusively on the cannabis industry. The firm's portfolio of brands also includes Leafly, Marley Natural and Goodship.

Aurora Cannabis Inc. is planning to spin off its Australis Capital subsidiary as a separate entity that would focus primarily on investing in the U.S. cannabis and real estate sectors.

The spin-off will be achieved by distributing shares and warrants of the new company -- to be listed on the Canadian Security Exchange.

"The fragmented U.S. cannabis market has many innovative and successful operators that struggle to access growth capital," said Aurora CEO Terry Booth in a statement. "This creates exciting and attractively priced opportunities for the well-connected and knowledgeable team at Australis to capitalize on... While regulatory requirements vary greatly from state to state, Australis are well prepared to navigate this landscape."

As Canada comes close to legalizing recreational marijuana, cannabis stocks have witnessed a sudden surge in their valuation. Despite the vast upside opportunity for pot stocks, the opening up of the recreational marijuana market may be faced with regulatory hardships, just like the tobacco industry.