Finance

The big news this week, of course, was Canada. The country began its legal adult use cannabis sales on the 17th. While there wasn't a huge amount of dispensaries open, there were some that began sales at midnight.

MedMen (MMNFF) continues its spending spree. The company is buying Pharmacann in a deal valued at $682 million. And seed-to-sale technology provider MJ Freeway has agreed to a merger with MTech Acquisition Corp.

Here are the top financial cannabis news stories for the week ending October 5, 2018

As the $1 billion per quarter is bound to rise with time, at least incrementally, Canada is looking at a sharp shot in the arm of revenue.

Investors at nearly every level are now throwing money at any cannabis company with a pulse in hopes of cashing in when this thing, whatever it is destined to become, finally matures.

What a crazy week for cannabis stocks. Tilray began the week at $117, which was already a fairly rich valuation. It closed at $154 on Tuesday and then all hell broke loose.

These projections come in anticipation of the passing of the 2018 U.S. Farm Bill, which would fully and unambiguously legalize hemp and its extracts across the country.

Now that marijuana is set to go fully legal in Canada in the coming weeks, investors are flooding the market in hopes of cashing in on the next big thing.

When Senate Bill 333 was approved last year, the state's medical cannabis program was severely reformed. One such reform was to charge a 4 percent tax on all cannabis at retail value for the first year.

The producers and distributors of the hemp-based wellness products that first convinced Dr. Sanjay Gupta of the medicinal properties of cannabis went public August 30 with a projected $100 million initial public offering in the Canadian exchange (CWEB).