With Ontario delaying the opening of storefront pot shops until the spring, cannabis producers are pushing back against a proposed federal levy on their sales.

Health Canada wants to slap large-scale marijuana producers with a 2.3 per cent fee on their gross revenue to cover the federal government’s cost of regulating the nascent industry – a job pegged at $82 million over the next fiscal year.

But an industry umbrella group is urging the government to suspend the levy until after April 1, when bricks-and-mortar dispensaries will open in Ontario, giving cannabis companies a better idea of what their sales numbers will look like.

 With the legalization date for the recreational sale of cannabis set for October in Canada many cannabis stocks saw significant price moves in the past week. This past week Diageo, a U.K. spirits maker, was in talks with three cannabis producers.

On the back of this information, big players such as Canopy Growth (TSX:WEED) saw its share price jump 33%, driving significant sector returns. Today we have weeded out four-lesser known Canada-listed cannabis stocks with market capitalization under $500 million that saw average returns of at least 30% in the past five trading days

Aurora Cannabis Inc. (TSX:ACB) has been wheeling and dealing during the past year as it looks to make a big splash in the marijuana market. The acquisitions of MedReleaf and CanniMed put the company in a great position to become a leader in that segment. However, it has made great strides since then as well.

After months of debate between Canada's Senate and its House of Commons, and following years of promises from Prime Minister Justin Trudeau, our neighbor to the north stands on the verge of becoming the first industrialized country in the world to legalize recreational marijuana.

Subsequent to the passage of the Cannabis Act on June 19, Trudeau set a date of Oct. 17, 2018 as the official in-dispensary launch for adult-use weed sales. The four-month delay was to give provinces enough time to get their regulatory infrastructure in place, as well as allow growers and cannabis supply chains ample time to get their products into retail locations.

Sometimes a first impression doesn't tell the full story. That's the case for my opinion of a small marijuana stock that perhaps hasn't caught the attention of most investors -- CannaRoyalty (NASDAQOTH: CNNRF). 

You have probably read and heard a lot about the top marijuana stocks. For the most part, these are the stocks of Canadian marijuana growers like Canopy Growth (NYSE: CGC). But U.S.-based marijuana businesses don't get nearly as much attention. I'll be the first to admit that I haven't focused on some of these stocks of U.S. companies as much as I have on the Canadian stocks.

One of the most important metrics used in evaluating the success of retailers is revenue per square foot. Apple (NASDAQ:AAPL) reigned as the top retailer in the world last year with $5,546 in revenue per square foot, according to market research company eMarketer. Jewelry store chain Tiffany & Co. was also high on the list with sales of $2,951 per square foot.

But there's now a surprising new winner in this key sales metric. Marijuana retailer MedMen Enterprises (NASDAQOTH:MMNFF) recently reported revenue per square foot of $6,541 at its seven cannabis stores operating in California. And MedMen is just getting started.

Today we have identified five small Canadian stocks in terms of market cap that have experienced a big surge in its stock price coupled with high trading volumes during the past month.

These companies offer investors a potential momentum play.

The five Canada-listed companies identified have seen an average monthly return of 210% and average trading volume of 1.1 million shares per day.

Come October 17, weed will be legal in Canada. But that doesn’t mean it’s going to be available everywhere.

While some provinces, including Ontario, simply won’t have a brick-and-mortar retail scheme set up by that deadline, other municipalities have opted to ban weed shops outright.

Markham and Richmond Hill in Ontario, and Richmond, the city of North Vancouver, West Vancouver, Tofino, Abbotsford, Pitt Meadows and Whistler in BC, have decided not to allow pot shops in their jurisdictions. Canadians who live in areas that don’t sell pot will have to use a mail order system, similar to how medical cannabis is provided now.

News of another dose of investment from Constellation Brandsin Canopy Growth (TSX:WEED)(NYSE:CGC) in mid-August triggered the latter stock to fly. Specifically, Canopy Growth stock has ascended about 69% since the news. But this wasn’t the only good news that has been pushing the stock to new heights.

This week Canopy Growth’s wholly-owned subsidiary, Tweed, had successfully listed +100 cannabis products in Ontario, including pre-rolled joints, dried flower, oils, and soft-gel capsules. It was ready for October 17, at which time recreational marijuana will be officially legalized in Canada.

Marijuana legalization is around the corner, but university students may have to think twice before reaching for their joints, pipes and bongs between classes.

Universities across Canada are prepping for legalization on Oct. 17 by crafting policies that limit cannabis use on campus. Multiple schools said they will follow municipal, provincial and federal regulations pertaining to marijuana consumption, adding that harm-reduction efforts are in place to educate students, staff and faculty.