Major cannabis stocks did not see the gains that investors were hoping for today following the passing of Bill C-45.

As the Toronto Stock Exchange (TSX) finished trading for the week, stock prices indicated that plenty of uncertainty remains in the cannabis market, despite Canada making another significant step towards recreational sales.

Canopy Growth Corporation (WEED), Aphria (APH) and Aurora Cannabis (ACB) were all in the red as trading on the (TSX) ended on Friday.

While Bill C-45 passed through the Senate, it has yet to officially receive Royal Assent and become law, which could be a factor in the timid cannabis market.  

Before becoming law, the House of Commons will debate over 40 amendments to the bill, including strict regulations on cannabis brands promotional capabilities.

Similar to tobacco, cannabis companies will not be allowed to promote their brands on items like T-shirts, hoodies and baseball caps.

The bill also prohibits advertising of cannabis products in traditional radio or television ads and requires cannabis packaging to be a single, uniform colour without images or graphics other than the logo and a health warning.

Even with cannabis stocks sputtering, interest among investors will likely remain high as a recent report estimated that once legalized Canada’s cannabis industry is expected to generate more than $7 billion in annual sales.