As indicated in the Telegraph's article, the legalised cannabis sector is becoming ever more active, with recreational use permitted in a number of US states already and to be lawful across Canada from 1 July this year, in addition to those medicinal applications currently allowed. 

Consequently, there has been significant North American investor interest in cannabis businesses and increasing capital markets activity, with (for example) updated disclosure guidelines recently published by the Canadian Securities Administrators. 

To date, fundraisings in the UK for cannabis-related companies have been pretty rare, with (previously AIM-listed) GW Pharmaceuticals probably the main example. With the opportunity seemingly being created by the forthcoming change to Canadian Federal law, it will be interesting to see how the UK investor community reacts, and whether London becomes a destination of choice for those looking to fund cannabis enterprises. I'm looking forward to learning more about the Canadian experience when I am in Toronto at the beginning of March.