Martin Cauchon stood in the House of Commons and took a breath. It was the spring of 2003 and as the Minister of Justice and Attorney General of Canada, Cauchon was about to introduce Bill C-38, a piece of legislation that would decriminalize the possession of marijuana. 

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Cannabis 2.0 represents a major opportunity in Canada and refers to the sale of cannabis infused products (edibles and drinkables), cannabis concentrates, salves, tinctures, and more.

Demand for these types of cannabis products has been steadily increasing and this is a trend that we expect to become more significant on a going forward basis. A few years ago, we noticed a substantial increase in the number of Canadian companies that were focused on producing cannabis. When it comes to cannabis 2.0, there has been a much smaller increase in the number of companies focused on the vertical and we find this to be significant.

Getting high can be rough on the wallet, with a new report from Finder Canada revealing an estimated $1 billion is contributed to the Canadian economy through fuzzy shopping sprees while under the influence.

According to Finder’s research, one in five Canadians have shopped while stoned at least once in their lives, spending an average of $187. Breaking the numbers down by province, high shopping in B.C. took the top spot for average spend, letting it rain to the tune of $390. Nova Scotians ($279), Quebecers ($236), Albertans ($143), Ontarians ($114) and Manitobans ($88) followed, notes the new report, Doped up: Canada has a high shopping problem.

Canadian marijuana companies were finally confirmed as eligible for financial assistance during the coronavirus crisis after initial confusion in the industry.

Last month, the Export Development Canada (EDC) agency and the Business Development Bank of Canada (BDC) were granted CAD$10 billion to distribute in the form of loans to small businesses as part of the Canadian government’s emergency stimulus package.

However, the CEO of cannabis producer Tantalus Labs informed people via Twitter that he was denied help as the federal development bank is “not authorized to do business” with marijuana companies.

Organigram Holdings Inc.'s fiscal second-quarter results missed analyst expectations as the launch of Cannabis 2.0 products resulted in higher costs for the cannabis producer. 

The Moncton, N.B.-based pot producer said its second-quarter revenue was $23.2 million, down from $26.9 million in the same period a year earlier, and down sequentially from $25.2 million in the previous quarter. The decline in revenue was attributed to fewer sales of its traditional dried flower and oil products as well as lower prices amid increased competition in the Canadian recreational market. 

As the first few cases of COVID-19 start appearing in Canadian prisons, advocates are calling for a radical way to keep people safe: let the non-violent inmates go home. 

Granting early parole and allowing certain inmates temporary leave would help protect older or immune-compromised inmates and reduce the number of people living in close proximity to one another. 

For the past year, there hasn't been a more disappointing industry for investors than cannabis. Following a blazing-hot first quarter in 2019 that saw more than a dozen pot stocks return at least 70%, virtually all marijuana stocks have retraced anywhere from 50% to 95% over the past year.

What's particularly interesting is that the country given the first crack at becoming a global cannabis leader -- Canada -- has completely flopped at the task. Now, with the coronavirus disease 2019 (COVID-19) spreading globally, things for the Canadian pot industry have gone from bad to worse.

What went wrong?

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As countries around the world implement new regulations that are aimed at slowing down the spread of the coronavirus, businesses are working tirelessly to introduce new models that would avoid a lengthy shutdown.

The cannabis bankruptcy filings are starting to roll in.

Already plagued by a tough regulatory environment, disappointing sales and capital markets that had closed to all but the strongest companies, the industry is now facing a pandemic-related collapse in stock markets and ever-shrinking financing options. Pot companies completed two capital raises worth just US$5.6 million the week ended March 27, according to data from Viridian Capital Advisors. That’s the lowest level of activity this year and compares to 17 capital raises worth $169 million for the same period in 2019.