New Horizons marijuana ETF could increase liquidity for these pot stocks: Beacon

Jan 11 21:01 2018 Print This Article

A proposed new marijuana ETF could be a boon to Canadian-listed marijuana companies with U.S. operations, Beacon Securities analyst Vahan Ajamian says.

Horizons ETFs Management (Canada) Inc. this week filed a preliminary prospectus to launch a new marijuana ETF called the Horizons Junior Marijuana Growers Index ETF, which would trade under the ticker symbol HJMR. The firm launched its first marijuana ETF, the Horizons Marijuana Life Sciences Index ETF (HMMJ), in April of last year.

Ajamian says where the ETF proposes to list could tell us a lot about its intentions.

“Critically, HMJR has applied to trade on the Aequitas NEO exchange,” he notes. “The main reason for this seems to be that “Constituent Issuers may currently, or in the future, derive some portion of their revenues from the medical and/or recreational cannabis industry in certain U.S. states where cannabis use has been legalized under state law (e.g. Alaska, California, Colorado, Maine, Massachusetts, Nevada, Oregon and Washington), notwithstanding that the use, possession, sale, cultivation and transportation of cannabis remains illegal under U.S. federal law.”

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Cantech Letter

Founded in 2008 by Nick Waddell, Cantech Letter is an online magazine focusing on Canadian technology. The site has grown into one of the most popular and respected financial sites in Canada, and was described by Canadian Business Magazine as “one of Canada’s premier technology newsletters”. Waddell, who is Senior Editor, is routinely called on by the mainstream media for perspective on Canadian technology, and has been featured on BNN, CTV News Channel, and the CBC program “The Lang and O’Leary Exchange” in addition to mainstream print media such as The Guardian, The International Business Times, The Globe and Mail, Macleans, The Waterloo Record , Canadian Business, Slate, and Business Insider. You can email Nick at nick@cantechletter.com Cantech Letter is focused on those companies listed on the TSX and TSXV Technology, Cleantech and Life Sciences Sectors. Each year we present the Cantech Letter Awards, which honor Canada’s Top Technology Stock and Top Technology Stock Executive.

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