An exchange in Canada dominated by marijuana stocks has asked listed companies with U.S. operations to publicly detail any risks they face after Attorney General Jeff Sessions’ decision to scrap protections for state-legal cannabis businesses.
Richard Carleton, chief executive officer of the Canadian Securities Exchange, told Marijuana Business Daily that the exchange contacted all CSE-listed companies with U.S. exposure, advising them to provide a public comment on the impact the Sessions’ decision could have on their businesses.
Companies listed on the CSE are free to participate in the American marijuana industry provided they meet risk disclosure requirements, because cannabis remains illegal at a federal level in the United States.
In an emailed statement Friday, the Canadian Securities Administrators said it had no update to a Staff Notice issued in October that outlined specific disclosure expectations for marijuana companies that have, or are in the process of developing, marijuana-related activities in the United States.
The October notice also stated that the umbrella organization for Canada’s securities regulators could “re-examine” the measure in the event of a change to the U.S. federal government’s enforcement approach.
So far, only a handful of the CSE’s companies with U.S. exposure have issued statements. Some include:
- CannaRoyalty (traded on the CSE as CRZ)
- Liberty Health Sciences (traded as LHS)
- iAnthus (traded as IAN)
- MPX Bioceutical (traded as MPX)
- High Hampton Holdings (traded as HC)
- Friday Night (traded as TGIF)
- Marapharm Ventures (traded as MDM)
- Nutritional High International (traded as EAT)
Matt Lamers can be reached at [email protected]
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