With strong marketing advocacy of the benefits of cannabis use for improved mental health, cannabis legalization is a priority among legislators. However, preliminary scientific research does not conclusively associate cannabis with improved mental health. In this study, we explore the relationship between depression and consumption of cannabis in a targeted social media corpus involving personal use of cannabis with the intent to derive its potential mental health benefit. We use tweets that contain an association among three categories annotated by domain experts - Reason, Effect, and Addiction. The state-of-the-art Natural Langauge Processing techniques fall short in extracting these relationships between cannabis phrases and the depression indicators. We seek to address the limitation by using domain knowledge; specifically, the Drug Abuse Ontology for addiction augmented with Diagnostic and Statistical Manual of Mental Disorders lexicons for mental health. Because of the lack of annotations due to the limited availability of the domain experts' time, we use supervised contrastive learning in conjunction with GPT-3 trained on a vast corpus to achieve improved performance even with limited supervision. Experimental results show that our method can significantly extract cannabis-depression relationships better than the state-of-the-art relation extractor. High-quality annotations can be provided using a nearest neighbor approach using the learned representations that can be used by the scientific community to understand the association between cannabis and depression better.