The marijuana market in Canada is prepped for additional growth: several companies plan to go public in 2017 since the country's regulations are more favorable, giving investors more options in this growing sector.

Companies are choosing to file their IPOs in Canada because of the more restrictive environment in the U.S., said Michael Berger, founder of Technical420, a Miami-based company that conducts research on cannabis stocks, and a former Raymond James energy analyst. The legal cannabis market expanded significantly during the past year and medical marijuana is now legal in countries such as Australia, Germany, Canada, Uruguay and Colombia. By 2018, Canada's legal recreational cannabis market should generate over $10 billion a year.

Aurora Cannabis (ACB.V: TSX Venture) (ACBFF: OTCQX) announced another strategic investment today after it created a 19.9% position in Hempco Food and Fiber (HEMP.V: TSX Venture). Aurora also will obtain an option to acquire shares from the majority owners of Hempco and increase its ownership interest to 50.1% on a fully diluted basis.

Since co-founding the Green Organic Dutchman, a medical cannabis producer based in Ancaster, Ont., Jeannette VanderMarel says she has often found herself the only woman in a room full of men.

"There seems to be, at times, a bit of condescension," says VanderMarel, a former nurse who delved into the medical marijuana sector after losing her daughter in 2003 to Dravet syndrome, or uncontrollable seizure disorder.

Her experience as a woman in the young, fast-growing industry is not uncommon.

Women are under-represented in the boardrooms of corporate Canada, holding just 12 per cent of board seats at 677 TSX-listed companies analyzed by provincial regulators last year. But the disparity is larger in the medical marijuana business.

MedReleaf Corp. fell 22 percent in its trading debut, the largest decline for a sizable Canadian IPO in 16 years, amid growing concern that pot stocks are overvalued.

Shares in the Markham, Ontario-based company -- trading under the ticker "LEAF" -- closed at C$7.40 in Toronto on Wednesday, giving it a valuation of C$669 million ($495 million). The drop is the biggest for a sizable Canadian IPO since Intier Automotive Inc. fell 34 percent in 2001, according to Bloomberg data.

MedReleaf’s Chief Executive Officer Neil Closner declined to comment on the share price but said being listed on the TSX will contribute to efforts to grow the business.

Bay Street’s first cannabis ETF hasn’t been spared recently as regulatory uncertainty weighs on the sector. And now Horizons ETF Management is aiming to assuage concerns.

Mark Noble, senior vice president and head of sales strategy at Horizons ETF Management, communicated via email that the entire marijuana sector is being hit, not just its Horizons Medical Marijuana Life Sciences ETF (HMMJ).

“The whole space is being hammered so you’re either in it for the long haul or you’re not in it at all,” he wrote.  

Although Canadian licensed medical cannabis producers were under heavy pressure yesterday and the selloff showed no signs of slowing down, things can change quickly and that is exactly what happened for these companies.

We have been closely monitoring the recent sell-off and believe that it created a great buying opportunity for new and existing investors. Canadian licensed cannabis producers continue to remain one of the most attractive places to invest due to the upcoming legalization of recreational cannabis, the quality of companies within it, and the strength of the management team and the balance sheets.

We have highlighted three Canadian licensed medical cannabis producers that saw some of the most significant price movements yesterday.

Public Safety Canada may have found their solution for detecting high drivers once marijuana is legalized.

In a pilot project, Public Safety Canada, the RCMP and seven local law enforcement agencies including the Halifax Regional Police tested a pair of “drugalyzers” from December to March and recommend taking the devices to full-time use.

“The results from this pilot project indicate that with the proper training and standard operating procedures, these devices are a useful additional tool for Canadian law enforcement to better detect individuals who drive under the influence of drugs,” the report said.

MedReleaf Corp. ("MedReleaf") (TSX:LEAF) today announced the successful closing of its initial public offering and secondary offering of an aggregate of 10,600,000 common shares of MedReleaf at a price of $9.50 per common share (the "Offering Price") for aggregate gross proceeds of $100,700,000, with MedReleaf and certain shareholders (the "Selling Shareholders") receiving gross proceeds of $80,700,049 and $19,999,951, respectively.

The common shares will commence trading today on the Toronto Stock Exchange under the symbol "LEAF".

As the marijuana industry begins to mature, purveyors recognize the need to separate themselves with distinct branding. The hand-painted signs, bad puns, and Rastafarian flags that once defined the industry are giving way to sophisticated design that abandons aging stoners in favor of more upscale clientele.

Before marijuana was legalized, the plant’s design aesthetic was somewhere between the tie-dyed patterns of the Grateful Dead, the Rastafarian color palette of Bob Marley, and the Jamaican flag. But that’s starting to change.

A medical marijuana grower in Gatineau says it has found the source of a banned pesticide that tainted its products, causing the company to temporarily stop sales and issue two recalls.

The Hydropothecary Corporation says an employee sprayed “a small number of plants” with myclobutanil, a pesticide not approved for use on cannabis, without the company’s knowledge or approval.