Montreal police announced the dismantling of a major drug trafficking ring after 26 people were arrested in Quebec and Ontario on Tuesday.

Some 350 officers were involved in the raids, which were mainly carried out in the Montreal-area of Quebec.

However, four of the arrests were made in the Ontario cities of Cornwall, Toronto, Hamilton and Guelph.

"This particular network is composed of both Italian and Asian groups. We estimate their illegal activities generating approximately $80 million in revenues on a yearly basis," Montreal Police Cmdr. Giovanni Di Feo told reporters on Tuesday.

Police suspect gang-members were growing marijuana in private homes -- which had been turned into hydroponic green houses -- and that they had teamed up with mobsters to distribute the drug in Ontario and the United States.

CTV Montreal reporter Stephane Giroux said the operation began around 6 a.m. Tuesday morning.

"It's essentially a Montreal-based investigation," said Giroux. "It's been going on for several months and from what we know so far is several high ranking members of the mob are involved, and (members from) lower levels as well."

By the end of the day, police had raided some 30 homes and 9 businesses, and seized $600,000 in Canada and U.S. currency.

Also seized were 375 pounds of marijuana,one kilogram of hashish, a bulletproof vest and several weapons, including five handguns, three rifles, 16 Tasers.

But authorities say the investigation is not yet over.

"As of today, there is still some activity, some operations going on, so we are still looking for some people that are under arrest warrants," Cmdr. Jimmy Cachione said.

The organized crime division of the Montreal police department led the operation with support from the Quebec provincial police and the RCMP.

The 26 suspects, including six women, are expected to appear in court on Wednesday to face several counts of drug trafficking, including participation in a criminal organization.

With reports from CTV Montreal and The Canadian Press