While marijuana stocks may be considered a contentious sector to invest in to some investors, this is a sector that could be quite profitable for long-term investors. If recreational cannabis is soon legalized, many marijuana companies are positioned to potentially experience explosive earnings growth in the years ahead.

Three marijuana stocks are now included in the S&P/TSX Composite Index, and that number may continue to grow.

Given the growing presence and leadership of these stocks, I recently spoke with Vahan Ajamian, an analyst who currently covers eight marijuana equities at Beacon Securities Ltd. Here are excerpts from our conversation, with an expanded version available online at tgam.ca/inside the market.

A Kamloops lawyer has expressed alarm following Monday's pot shop bust on Hillside Drive.

The Canna Clinic was shut down and two employees arrested after RCMP said the shop had been operating illegally within the City of Kamloops.

"I'm quite alarmed. So, when you read the news release from the RCMP, they're basically justifying this, saying, 'Well, these guys are blatantly breaking the law because they are failing to follow the Kamloops bylaw,'" says Shawn Buckley, principal lawyer with Buckley and Company. "Well, Kamloops will not issue a business license. So, the city itself is creating the illegal behaviour."

The designs for 12 Nova Scotia Liquor Corporation (NSLC) cannabis shops were released on Monday by the organization’s President and CEO, Bret Mitchell.

Eleven of the cannabis shops will be located within NSLC locations, which will undergo $500,000 renovations to accommodate the shops-within-a-shop. One vacant store in Halifax will reopen as the sole cannabis-only store in the province.

Based on the renderings, the shops are well-lit with white walls featuring a few punches of bright colours. There will be a wall of weed boxes behind the cash registers that will display the products.

“We have what I consider a modern, bright, really merchandise-intense full-service environment which we are going to roll in July,” said Mitchell.

'I have never seen a fight associated with cannabis,' says lawyer Peter Harte.

As N.W.T. draft legislation for the legalization of cannabis is under review, many have wondered how it will affect the criminal justice system and policing. 

Prime Minister Justin Trudeau renewed his promise Thursday that recreational cannabis use will be legal by summer. The N.W.T.'s Cannabis Legalization and Regulation Implementation Act, or Bill 6, is currently under review.

The number of Canadian veterans prescribed opioids or tranquilizers has declined significantly in the past six years while those authorized to use medical cannabis has skyrocketed, even as Veterans Affairs​ capped reimbursement for it.

Experts caution more in-depth research is needed but say these new data, released to The Globe and Mail by Veterans Affairs Canada, echo trends observed in U.S. states with legalized medical marijuana, where significant declines in opioid overdoses suggest that people may be substituting these oft-abused, addictive medicines with cannabis.

Perfect 'weed breathalyzer' may never come.

When it comes to drivers impaired by marijuana, there are still a lot of unanswered questions in B.C. — even with legalization still expected to take place this summer.

The tools, training and method of determining whether a driver is impaired by marijuana are still not certain.

Public Safety Minister Mike Farnworth said last week the province is still waiting for information from the federal government on those details, including what devices will be used as breathalyser equivalents during roadside stops.

"It's something we believe needs to be communicated to the provinces, like, ASAP," Farnworth said. "The feds have told us there is technology they are confident in, but we are yet to know exactly what it is."

As marijuana legalization draws near and questions linger about what Canadians can expect at the U.S. border, the federal point-man on pot, Bill Blair, has some advice: Don’t lie.

This week, the Senate National Security and Defence Committee issued its report on the federal marijuana legalization legislation, Bill C-45. It offered several recommendations to the federal government relating to addressing Canada-U.S. border issues, including:

The Campaign for Cannabis Amnesty launched at the Global Marijuana March at Queen’s Park in Toronto on Saturday.

A group of Toronto lawyers, activists and entrepreneurs launched a petition Friday calling on the federal government to grant amnesty to people convicted of simple cannabis possession charges.

"If the federal government is going to legalize cannabis, then it doesn't make any sense for these convictions to stay on people's records," said criminal defence lawyer Annamaria Enenajor, the director of the Campaign for Cannabis Amnesty.

Chief planner recommends province choose where pot shops can go, but city says windows must be opaque.

The City of Winnipeg has decided not to create any new rules to govern where cannabis can be sold — but clear glass windows won't be allowed at weed stores.

A city working group on cannabis legalization has concluded provincial officials should approve where cannabis retailers can set up within Winnipeg when recreational cannabis use becomes legal, as it is expected to later this year.

In a report to council's property committee, City of Winnipeg chief planner Braden Smith said no new land-use rules are needed to govern where cannabis retailers can and cannot operate within the city.

Tip-A-Vista Wellness Foundation leads community dialogue with Eastern Health

Looking to talk cannabis?

There is an upcoming dialogue in Bonavista based on the pending legalization of marijuana.

The Tip-A-Vista Wellness Foundation, in partnership with Eastern Health’s Mental Health and Addictions program will be hosting a community dialogue as part of a national “Let’s Talk Cannabis” project.

Occurring in four different provinces, the talk is coordinated by the Canadian Institute for Substance Use Research (CISUR) and is funded by Health Canada — Drug Treatment Fund.