Taxation isn't the only factor in the quest to undercut black market prices.

Provincial finance ministers are getting a clear message from the federal government this week: Keep taxes on legal marijuana sales consistently low across Canada, or risk undercutting the government's goal of ending black market cannabis sales.

But provincial governments may find that enticing consumers to buy legal marijuana over illicit weed will take more than just tweaking tax rates. The question of how provinces allow marijuana to be sold could also play an important role in pricing.

If you're an investor looking for rapid and consistent growth, you'd probably struggle to find an industry that's outperforming marijuana at the moment. A report issued last month by Marijuana Business Daily entitled "Marijuana Business Factbook 2017," calls for 30% growth in U.S. legal weed sales in 2017 to a range of $5.1 billion to $6.1 billion, and roughly 300% growth between 2016 and 2021 to more than $17 billion.

Here's why legal cannabis sales are soaring

What's sparking this growth, you ask? Look no further than improving public opinion toward cannabis, the desire of state governments to generate revenue, and "pot-trepreneurs."

A groundbreaking ceremony was held south of Edmonton Friday morning on what’s touted to be the largest cannabis production facilities of its kind in the world.

The 800,000 square-foot Aurora Sky cannabis production facility will be capable of producing more than 100,000 kilograms of cannabis every year.

Larger than 16 football fields, the facility is being built on the land at the Edmonton International Airport.

“Beyond that, it’s so technologically advanced,” said Cam Battley, with Aurora Sky. “We’re using technologies that have never been used, in some cases in cannabis production and in other cases, in agriculture.

A Nevada-licensed marijuana producer is breaking ground with a Canadian stock listing that allows it to raise funds to grow and sell pot in the legally murky U.S. market, likely opening the door for an influx of others.

Friday Night Inc. made its public trading debut Friday on the Canadian Securities Exchange (CSE) and saw its shares spike 467 per cent to close its first day with a market value of $44.2 million, suggesting there is significant investor interest in companies with U.S. state licences to cultivate cannabis.

U.S. marijuana companies are forbidden to list on public stock exchanges in their home country because the drug is considered a Schedule I narcotic at the federal level.

We are almost halfway through 2017 and the year has been a year to remember (or forget) for many companies.

From Germany introducing legal medical marijuana legislation to Canada introducing a plan to legalize recreational marijuana, new opportunities continue to emerge.

One of the major differences between the cannabis sector today and this time last year is the strength of the companies from a capital standpoint. More than $1 billion has been raised over the last year and much of this has been done by Canadian cannabis firms.

All this time we’ve been wondering who the pro marijuana voice of reason in the Trump’s circle would be. With so many in Trump’s campaign that are clearly prohibitionist, the chances of any real supporters seemed slimmer than ever.

Then, six months into Trump’s presidency, an incredibly stunning development has breathed new life into the hopes of marijuana supporters around the country.

Sales in the legal marijuana business are blazing hot, brushing $6.7 billion in 2016 -- but projections are expected to climb even higher to as much as $20 billion in sales by 2021, according to cannabis research firm Arcview Market Research. 

Despite the uptick in overall sales, the industry is still struggling to find its footing as those in the public space continue to battle turning a profit.

Medical Marijuana Inc. (MJNA) , a $321 million market cap company that claims to be the first publicly traded medicinal cannabis firm, is no different. While doubling revenue over the last year, the company is still struggling to turn a profit. 

Medical marijuana in Louisiana is moving closer to production, with a contractor for the growing operation chosen by Louisiana State University.

The LSU AgCenter has selected a New Orleans affiliate of a Las Vegas company to do the work. GB Sciences was chosen from seven potential vendors.

A contract awaits consideration by the university governing board on Thursday.

Louisiana lawmakers agreed to a framework for dispensing medical marijuana in 2015.

The law will eventually get medicinal-grade marijuana to people with cancer, a severe form of cerebral palsy, seizure disorders, epilepsy, muscular dystrophy and other diseases. Eligible patients are expected to have access to the drug next year.

Roger Stone, a close confidant of President Donald Trump, is on a mission to convince Trump to legalize marijuana through a new lobbying group.

An air of optimism is brewing around Canada's fledgling cannabis sector.

In Alberta, a cannabis company is breaking ground this week on an 800 square-foot, state-of-the-art medical marijuana greenhouse near Edmonton.

Then, another startup out of Okotoks will launch an online marketplace, called DooberExpress.com on Saturday.

But is now the right time to buy into the hype and invest in this growing industry?

Sean Mason, a senior editor with Small Cap Power, a website that reports on stocks, spoke with the Calgary Eyeopener Friday about the risks and rewards of the looming marijuana regulation.