The Canadian government unveiled its 2024 budget on Tuesday and there was no excise tax relief for cannabis companies the industry was hoping for.

In February, the House of Commons Standing Committee on Finance recommended limiting the excise tax rate to 10%, igniting optimism across the cannabis space.

Analyst Pablo Zuanic, in a discussion about the impact potential excise tax changes would have on the cannabis industry, said marijuana businesses could have seen valuations soar by up to 300% with tax reform. But apparently, this is not going to happen.

The 430-page primary budget document mentions the word "cannabis" only once in relation...