Welcome to our Weekly Cannabis Report, a reliable source for cannabis investors to receive the latest developments and analysis.

Weekly Summary

Last week, the widely-tracked Horizons Marijuana Life Sciences Index ETF (OTC:HMLSF) was higher by more than 6% and ended the week at $18.90.Horizons Emerging Marijuana Growers Index ETF (OTCPK:HZEMF) which tracks smaller growers ended the week at $8.47, up 3.7%.

Sector Update

The exciting moment that we have all been waiting for has finally arrived. The Senate voted on June 7 to pass the Bill C-45 clearing a major milestone in the legalization process. However, it is important to note that the Senate has made a number of amendments to the Bill and it will now be sent back to the House of Commons to review and vote on the amendments.

Some of the amendments are non-essential but others could have a profound impact on the cannabis sector and stocks involved. For example, one of the amendment would allow provinces to decide whether to allow home growing. Several provinces (Quebec, Manitoba) have said that they will ban home growing which could be beneficial to licensed producers.

There are also amendments to marketing, packaging, and branding that will affect the way cannabis companies conduct their business. The Bill in its current form would make it very difficult for cannabis companies to get creative in their marketing and packaging. The bottom line is that the Bill will most likely be passed, but several important details could still be tweaked in either direction as the House of Commons reviews and votes on the Bill.

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