Three top American cannabis firms made their trading debuts on the Canadian Securities Exchange (CSE) this week, continuing the frenzy of U.S.-based marijuana companies turning to Canada’s public markets to raise capital.
Here’s a quick rundown of what investors need to know:
- Multistate cannabis operator Acreage Holdings listed its shares under the ticker symbol ACRG.U after the closing of its reverse takeover (RTO) of Toronto-based Applied Inventions Management. New York-based Acreage, valued at more than $2 billion, raised $314 million ahead of its trading debut. The company grabbed headlines earlier this year when it appointed former House Speaker John Boehner to its board and landed a $119 million raise – the largest private financing in the U.S. cannabis industry. Acreage shares closed at 24.25 Canadian dollars ($18.44) Friday, up more than 19% for the day.
- Arizona-based Harvest Health & Recreation made its trading debut as HARV. The firm, which also pursued an RTO, raised $218 million ahead of its listing. Harvest has cultivation and dispensary licenses and operations in 10 states. The company’s stock closed Friday at CA$7.60, gaining more than 8% for the day.
- Denver-based MJardin Group listed its shares under the symbol MJAR and also announced this week that it had closed a CA$278 million deal to acquire Toronto-based cannabis producer GrowForce. MJardin operates 23 cultivation facilities across the U.S. and Canada. The firm’s stock closed Friday at $8.27, up 6% for the day.
A number of other companies have announced RTO plans that are expected to close in the coming months, including:
- Chicago-based Cresco Labs
- Denver-based Dixie Brands, which has obtained conditional approval from the CSE to list
- Oakland, California-based Harborside
- Denver-based LivWell Enlightened Health
- Phoenix-based 4Front Holdings
Lisa Bernard-Kuhn may be reached at [email protected]
Growing Ambition. Companies leverage capital, partnerships and diversification to expand beyond state lines.
Dear Doctors of the world and all those in the medical profession too afraid and too uneducated to prescribe cannabis,
Cannabis 101
how is Cannabis medicine?
there is an endocannabinoid system in the human body that interacts with
the present molecules in the cannabis plant
the endo cannabinoids in our system act as lock and key functionality with cannabinoids turning on homeostastis in the body, reducing things like inflammation, toxins and free rads, anxiety
endo cannabinoids are present in the brain body and blood (everywhere!) in the bod and they correspond and interact with the cannabinoids from the plant
causing the system to achieve homeostasis: Health
TA-DA! So Now you know people so you can never claim complete ignorance over how Cannabis works to achieve health in the body again!
outstanding, brief and clear