Two years in, Canada still isn't bringing in nearly as much tax revenue from marijuana sales as it had projected. Its mistakes provide some valuable lessons for other governments hoping legalization can balancing their budgets.

The National Post reports that the country's government had expected to bring in $100 million in revenue for fiscal year 2019–20. Now it's projecting only about $66 million in revenue, a third less.

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Indiva Limited (the “Company” or “Indiva”) (TSXV:NDVA) (OTCQX:NDVAF) is pleased to announce that it has received its edibles, extracts and topicals sales licence from Health Canada. This approval enables the Company to deliver extracts, capsules and its portfolio of award-winning edibles to Canadians.

Canada’s pot producers are getting plenty of fresh air.

For the first time, Health Canada noted it has licenced more physical space for outdoor cannabis cultivation (19 million sq. ft.) than indoor grow ops (13 million sq. ft.).

The abundance of outdoor operations should exert downward pressure on wholesale prices of cannabis, but only if producers are able to overcome the challenges of the great outdoors, according to Marijuana Business Daily.

Dry herb vaping devices for medical cannabis consumption have been approved for reimbursement for Canadian veterans and Royal Canadian Mounted Police officers. However, exactly if and how liquid-filled pens will qualify has yet to be determined.

Veterans Affairs Canada (VAC) currently reimburses up to $300 for the purchase of one reusable vaporizer every three years. This decision was made in 2014, notes information from VAC.

The veteran must have an authorization for cannabis for medical purposes, as well as a prescription for a vaporizer, from his or her health care practitioner. The veteran can purchase the vaporizer from a number of providers, and be reimbursed by VAC, the information adds.

Following a miserable 2019, marijuana stock investors are looking for the industry to deliver improvement in 2020, even if it's modest. Of course, the reality is that many of the issues currently plaguing the North American cannabis industry will require time to resolve. This includes regulatory- and supply-based issues in Canada, as well as exorbitant tax rates in select U.S. states.

While this does mean that most brand-name pot stocks in Canada will continue to produce losses throughout 2020, there are a few exceptions. Although Wall Street's consensus profit estimates remain highly fluid in the cannabis space, the following five Canadian cannabis stocks are expected to be profitable in 2020.

Aphria Inc. announced Friday it has lined up a $100-million investment from an unidentified institutional investor, representing a fresh capital injection which the Canadian cannabis producer has earmarked for “opportunistic” international expansion efforts.

Aphria Chief Executive Officer Irwin Simon told BNN Bloomberg in a phone interview that the investment demonstrates confidence in Aphria as well as the company’s management and strategy.

“It shows [the investor] is a believer in the [cannabis] category where a lot of licensed producers have had trouble finding any type of financing,” Simon said.

“We didn’t have to do this. We have close to $600 million on our balance sheet. It just gives us a much stronger balance sheet to continue doing what we’re doing.”

Purplefarm Genetics is going green.The company is working with WTTEC Systems Inc. to adopt new waste disposal technologies at its Canadian facility.

“We are truly excited about partnering with WTTEC, a company with the ability to reinvent the way the cannabis industry approaches its environmental impact,” said Jonah Clifford, director at Purplefarm Genetics. “As the cannabis market in Canada matures, we can clearly see the need for innovative solutions to environmental problems within cannabis operations,” Clifford said.

Medical cannabis vaping devices have received reimbursement approval for Canadian veterans.

There are lessons to be learned north of the border when it comes to marijuana. Unfortunately, for Canadians, many have to do with what you should not do. 

Since Canada legalized adult use marijuana in October 2018, that nation has experienced a host of problems that offer insight for both entrepreneurs and government officials. Forewarned is forearmed, and the United States has plenty to learn with national legalization in Canada.