Investors in the cannabis sector have reached the “show me the money” stage of their financing, but question marks remain over where the greatest returns will emerge.

Financial consultancy PAC Partners said it remained to be seen which part of the value chain will provide the greatest return for investors.

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Steve has reported for a number of consumer and B2B titles over a journalism career spanning more than three decades. He is a regulator contributor to health journal, The Medical Republic, writing on...