Constellation Brands, a massive alcohol beverage company, is investing $5 billion into Smiths Falls, Ont.-based cannabis company Canopy Growth.

According to a press release, Constellation Brands is increasing its ownership of Canopy Growth, the world's largest publicly traded cannabis company, to 38 per cent by acquiring 104.5 million shares.

"Through this investment, we are selecting Canopy Growth as our exclusive global cannabis partner," said Rob Sands, CEO of Constellation Brands, in the press release. "Over the past year, we've come to better understand the cannabis market, the tremendous growth opportunity it presents, and Canopy's market-leading capabilities in this space."

Shares of Canada’s cannabis companies fell sharply on Tuesday morning as investors reacted to news that Ontario will initially limit sales of the drug when it becomes legal on Oct. 17.

Ontario had previously planned to open government-run stores in October. The new Doug Ford government, however, has decided to allow the private sector to operate stores but not until next spring. The government does plan to sell cannabis online starting in October.

The delayed opening of Canada’s largest market for cannabis is a blow for the industry. Investors sent stocks lower on Tuesday. Canopy Growth Corp., the most prominent name in the industry whose ticker is WEED, led the declines.

Longtime marijuana advocate Neev Tapiero is ready for the cannabis-driven tourists to come, and he's not waiting for legalization to roll out the welcome mat.

The former dispensary owner anticipates an influx of visitors eager to try Canadian weed once recreational use is legalized Oct. 17, and is already courting foreign travellers through his Toronto-based tour company Canadian Kush Tours.

But while he prepares to hit the ground running, he says he's disappointed by a lack of support from government to back entrepreneurs like him: "Really none of the infrastructure is prepared for legalization in terms of things like hotels (and) parks."

Back in May, Canada’s law enforcement officials were anxiously eyeing June’s vote on cannabis. While many eagerly awaited Canada’s Cannabis Act to pass, police departments worried about running out of time to train officers for a Canada with legalized marijuana. But a new online cannabis training course is aiming to speed up the process for the nation’s law enforcement agencies. With it, officers have a much better chance of being ready to enforce the rules and regulations of the Cannabis Act when it goes into effect on October 17.

The summer has been a rough time for Canadian cannabis stocks and Horizons Marijuana Life Sciences ETF (HMMJ.TO) (HMLSF) has fallen approx. 25% from its late June highs.

This weakness has taken place on light volume and we have been closely monitoring this trend. Although the decline has been painful, it does not come as a surprise. During the last three years, we have seen the cannabis sector pullback during the summer months and this year has been no different.

We expect the selloff to end very soon and investors need to be monitoring the cannabis sector. Today, we have issued an update on three Canadian licensed producers that are worth highlighting.

Cannabis vape pens can be found in several dispensaries across Vancouver. But after October 17, cannabis concentrates and vape pens will not be allowed.

Vape pens allow cannabis users to ingest concentrated extracts from the cannabis plant.

Cannabis concentrates usually consist of THC extract, or the less psychoactive component, CBD. They are sold in either liquid form or a waxy substance.

Vape pens are portable battery-powered devices.They are easy to use, do not produce any smoke and emit little odour. 

As Canadian institutions grapple with the details of cannabis legalization, Abe Verghis is helping to fill in some of those gaps.

The Halton Hills resident and mechanical engineer works with a company that is developing oral drug test kits for cannabis, cocaine and methamphetamine, which will revolutionize roadside drug testing for police officers once pot is legal.

Aside from his day job, Verghis is running for a seat in council, where he hopes to offer some of his expertise in road safety, business and community matters.

“I’ve always had a fascination for the work of a council,” said Verghis. “I like to be involved. I think I can bring a lot of experience to the council.”

Ontario is ditching plans for government-run cannabis outlets in favour of letting private businesses run the shops.

The last-minute switch means people in Ontario won’t be able to shop in any stores at all when recreational marijuana becomes legal across the country on Oct. 17.

The government aims to have private stores running by April 1, 2019, which leaves time for wide consultations about the new system, Finance Minister Vic Fedeli said Monday.

However, cannabis will be sold online for home delivery on Day 1, Fedeli promised.

The Ontario Cannabis Retail Corp., the subsidiary of the LCBO set up by the previous Liberal government, will still act as a wholesaler and be responsible for online sales.