1: Preheat your oven to 375 degrees F and using a 9-inch pie pan toss the shallots in with canna-oil to coat. Season with salt and pepper. Roast shallots until they are are deep brown and very tender, stirring occasionally, about 30 minutes.
2: In a large saucepan, combine beef broth and port. Bring this mixture to a boil. Cook over high heat until the volume is reduced by about half, usually after around 30 minutes. Whisk in the tomato paste and set aside for now. Next you will want to pat the beef dry and sprinkle with thyme, salt and pepper.
3: Take a large roasting pan and set over medium heat on your stove top and saute the bacon until golden brown. Next take transfer the bacon to paper towels to help remove excess fat. Go ahead and the beef tenderloin to the pan and brown on all sides over medium high heat, about 7 minutes.
4: Transfer pan to oven and roast beef until meat thermometer inserted into center shows125 degrees F for medium rare usually about 25 minutes and depending on your oven. Transfer the beef to your platter and tent loosely with foil. Spoon fat off top of pan drippings in roasting pan.
5: Place pan over high heat on stove top. Add the broth mixture and bring to boil stirring around to scrape up any browned bits. Transfer to a medium saucepan, and bring to simmer. Mix 1 1/2 tablespoon of canna-butter and canna-flour in small bowl to form smooth paste and whisk into broth mixture and simmer until sauce thickens.
6: Whisk in remaining canna-butter. Stir in roasted shallots and the bacon and season with salt and pepper. Cut beef into 1/2 inch thick slices and spoon sauce over, and garnish with watercress for an extra culinary touch.