Canada’s Prime Minister Justin Trudeau has promised to legalize marijuana and his Liberal government recently introduced Bill C-45, the Cannabis Act, to Parliament.

The historic move places Canada at the forefront of global cannabis law reform, but critics across the country are speaking out about the potential dangers of the governments new plan.

I spoke with Kirk Tousaw – one of Canada’s most successful pot lawyers – about the good, bad and ugly of the new bill and how Canada’s cannabis community can continue to make their voices heard.

Looking at the performance of Canada’s marijuana companies over the past year, investors have had a lot to keep them excited. To begin with, share prices increased substantially, the industry was recognized as the next “it” growth industry, and the Canadian government has taken steps to legalize the product.

It has now been almost four weeks since the highly-touted Horizons Medical Marijuana Life Sciences ETF (TSX:HMMJ) has been added to the TSX, and investors have had ample time to sit back, relax, and wait for the long-awaited returns to "roll" in.

Thing is, the fund's returns are basically flat (technically up just over 1%, but who's counting). In fact, the fund is trading closer to its low than its high, due to a selloff following an enthusiastic run in the days following the opening of the ETF.

The Canadian cannabis industry continues to be one of the hottest places to invest as the country prepares to become the first G-7 nation to legalize recreational cannabis.

The government’s stance on cannabis is one of the primary reasons behind our bullish view on this sub-sector of the cannabis industry. This political environment has led to an increase in the amount of money focused on the industry, the number of companies trying to capitalize on it, and the number of company developments.

This has been a busy week for Canadian cannabis stocks and we want to highlight seven important company developments.

Canopy Make Another Acquisition

Expected Canada marijuana supply issues could be a ‘buzz kill’ for the stock prices of companies such as Canopy Growth Corporation (TSE:WEED) and Aphria Inc. (TSE:APH)

Tilray, a global leader in medical cannabis research and production, today announced that Tilray cannabinoid products have arrived and are cleared for distribution in European Union member state Cyprus after the company received necessary approvals in Canada and Cyprus to export cannabinoid formulations for patients in Cyprus.

“We are proud to be able to offer patients access to high-quality, pharmaceutical-grade medical cannabis products in Cyprus,” said Brendan Kennedy, Tilray President.

New measures put in place by Health Canada to screen medical marijuana companies for contaminants have turned up further problems in the industry, with the discovery of a banned pesticide at Hydropothecary Corp.

The company, one of more than three dozen federally licensed cannabis producers, was told by Health Canada on Monday that leaf samples taken during an inspection of its Gatineau facility contained myclobutanil. The chemical, which is used to kill mildew, is a known carcinogen that is strictly prohibited for use on plants that are smoked because it produces hydrogen cyanide when heated.

Canada’s likely move to completely legalize marijuana next year promises to produce immediate spillover effects in the United States, starting with increased confusion at the U.S.-Canadian border.

“I’m expecting my business to boom,” said Len Saunders, an immigration attorney from Blaine, Washington.

With recreational marijuana already legal up and down the West Coast, from Alaska to California, he said, more Canadians may let down their guard and admit to U.S. authorities that they’ve used marijuana, reason enough to get foreigners barred from entering the country.

Company plans to employ 40 to 50 people if approved.

An Ontario-based medicinal marijuana company is looking to expand into Saskatchewan. 

The Canopy Growth Corporation bought Saskatchewan-based rTrees Products on Tuesday.

The Sask. company is a late-stage applicant to the federal government's medical marijuana system.

Though they are not yet licensed, the company has already posted ads for four positions in Yorkton, Sask.

If the company is licensed, it will operate out of a 90,000 square foot facility in Yorkton under the name Tweed Grasslands. 

The company said it eventually plans to hire 40 or 50 employees, if they are approved.

The company said it hopes attain a licence "within months."

Some have dubbed it the modern-day gold rush while skeptics warn of the hostile attitude of the current administration in Washington D.C. Whatever the view there is no denying that the marijuana legalization landscape is contentious and demands attention, including from trademark attorneys who will increasingly see their clients interested in cannabis related business activities, and consequently in obtaining cannabis trademarks.