The Globe and Mail reports in its Saturday, Oct. 27, edition that
the Canadian Securities Exchange lists the shares of 107 cannabis companies, of which 50 are based in the United States.
The Globe's Christina Pellegrini and Andrew Willis write that the competing Neo Exchange also lists a handful of stocks that have U.S. marijuana holdings or intend to, including Halo Labs, Maple Leaf Green World and Canaccord Genuity Growth, which recently agreed to acquire Columbia Care LCC in a reverse takeover that valued the U.S. medical cannabis company at $1.35-billion (U.S.).
The rules of the Toronto Stock Exchange where the largest Canadian cannabis companies are listed, prevent its issuers from having any U.S. assets on their books. That has forced players such as Canopy Growth, Aurora Cannabis and Aphria to tip-toe around the United States by signing agreements that give them the right to acquire U.S. assets only if marijuana becomes legal at the federal level.
© 2024 Canjex Publishing Ltd. All rights reserved.