The Canadian cannabis stocks we’ve dug up have been largely oversold over the past two weeks, providing a cheaper entry into the space

SmallCapPower | July 26, 2018: Relative Strength Index (RSI) is a measure of price momentum. High values above 70 indicate that a stock may be overbought, while low values below 30 indicate it may be oversold. Over the last month, many cannabis stocks have seen a consistent decline in their prices on increasing volumes. The Horizons Marijuana ETF has declined by 15.4% in the past 30 days, suggesting a sector-wide correction. During the past two weeks, the Canadian cannabis stocks on our list have posted an average RSI of 14.5, providing investors with a potentially cheaper entry into the industry or a possible swing trade on the rebound.

Aurora Cannabis Inc. ("Aurora") (TSX: ACB) (OTCQB: ACBFF) (Frankfurt: 21P; WKN: A1C4WM) and MedReleaf Corp. ("MedReleaf") (TSX: LEAF) today announced the closing of the previously announced arrangement agreement (the "Arrangement Agreement"). Under the terms of the Arrangement Agreement, holders of MedReleaf common shares received 3.575 common shares of Aurora for each MedReleaf common share held (the "Exchange Ratio").

Upon closing of the transaction, Aurora will submit applications with the Toronto Stock Exchange (the "TSX") and the Ontario Securities Commission (the "OSC") to delist MedReleaf's existing common shares and for MedReleaf to cease to be a reporting issuer, respectively.

Kamloops will be home to British Columbia's first government-run cannabis store this fall — and it's now looking for staff.

A job fair is being held this week for positions at the shop ahead of the legalization of recreational marijuana in October.

"We are on the lookout for quite a few people," said Kate Bilney of the B.C. Liquor Distribution Branch, which is overseeing the sale of cannabis in the province. About 20 people are needed for the first store, she said, from managers to assistants to cannabis consultants.

Experience in a legal grey zone

In any job posting, previous experience is a must. But when it comes to the budding cannabis industry, it's a challenge.

In less than three months marijuana will officially be legalized across Canada and Oct. 17 will be a big day for law enforcement, as research is still underway to determine how the practical implications of the new legislation will be rolled out.

Earlier this month the federal Ministry of Public Safety announced it is launching a three-year study into the effects of cannabis on drivers. The nearly million dollar study will place drivers aged 19 to 45 in simulated driving scenarios to see how different levels of THC – the psychoactive ingredient in cannabis – affects their driving ability.

When Halifax council approved the city's new cannabis bylaw last week, the reaction was understandably fierce. Smoking is now illegal outside. It's also illegal inside. What was presented by HRM as a sensible first approach to dealing with cannabis legalization has, instead, been condemned for its potential for abuse.

Scientists from an Ontario laboratory are developing what can be described as the world’s first beer to be brewed from cannabis. Most cannabis-infused beers that are currently on the market are brewed from barley and infused with cannabis oil but this beer is brewed from the stalks, stem and roots of the plant.

The company is called Province Brands, a startup based in Toronto.

“I don’t think there was anywhere else in the world where we could do this business,” said Dooma Wendschuh of Province Brands. “Canada is already leading the world in creating an industry around medical cannabis and we expect them to continue to lead the world in trading and industry around adult-use cannabis.”

Aurora Cannabis Inc. is proud to announce that effective August 1, 2018, the company will offer a new employee benefits plan that will include coverage for medical cannabis authorized by a physician or nurse practitioner.

The new benefits plan, administered by Sun Life Financial, will allow employees and their dependants to receive coverage for medical cannabis under the Extended Health Care plan.

Naturally, this game-changing investment also involved rapper Snoop Dogg and actor Patrick Stewart.

This has truly been a year of "marijuana firsts." Since the year began, we've seen the following:

Canada’s marijuana sector may be powering its way towards legitimacy as the dawn of recreational cannabis draws ever closer, but with three months to go, there’s still too much uncertainty in the space to merit your hard-earned investment dollars, says Tim Regan, managing director at Kingwest & Company, who cautions that just like cigarettes and alcohol, the government-imposed taxes on cannabis have nowhere to go but up.

You probably know by now that Canada is on course to allow the adult use of marijuana for recreational purposes in October. And you probably know that many project that the market will be big -- with some estimating first-year sales of CA$5 billion and perhaps even more.

What some might not realize, however, is that one potentially massive marijuana market won't be open for business in Canada this year. But this market should be on the path to legalization in 2019, with companies such as Canopy Growth (NYSE:CGC) champing at the bit.