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Micro Cap
Market Cap £1.92m
Enterprise Value £2.50m
Revenue £n/a
Position in Universe 1949th / 2607

Canada exchange asks pot firms to disclose risks on U.S. operations

Fri 5th January, 2018 8:39pm
By Alastair Sharp 
    TORONTO, Jan 5 (Reuters) - A small Canadian stock exchange 
said on Friday it has asked marijuana companies to provide 
details on risks they face from any U.S. operations in the wake 
of a Trump administration move to boost enforcement of 
anti-cannabis laws. 
    The U.S. Justice Department on Thursday rescinded an 
Obama-era policy that had eased enforcement of federal marijuana 
laws in states that have legalized the drug, instead giving 
federal prosecutors wide latitude on pursuing criminal charges. 
    "In light of yesterday's announcement there are certainly 
some disclosure issues that companies should address," Canadian 
Securities Exchange Chief Executive Richard Carleton told 
Reuters via telephone. 
    The exchange has contacted 17 cannabis companies with U.S. 
exposure whose shares it lists, asking for public statements on 
how the policy announced by U.S. Attorney General Jeff Sessions 
could impact their businesses, Carleton said. 
    Those companies include CannaRoyalty Corp  CRZ.CD  and 
Liberty Health Sciences Inc  LHS.CD , he said.   
    The move follows an October notice from Canadian securities 
regulators that U.S.-linked marijuana companies must clearly 
warn investors about the risks, given the federal ban on 
marijuana production and sales.  urn:newsml:reuters.com:*:nL2N1MR1YA 
    Dozens of marijuana companies have gone public over the past 
few years in Canada, helping them finance expansion in the 
existing medical cannabis market and prepare to enter the 
nation's recreational market, which is slated to open up in mid 
    Marijuana stocks have posted strong gains over the past 
year, making the group one of the hottest sectors in the 
Canadian stock market.  urn:newsml:reuters.com:*:nL4N1OZ4FB 
    CannaRoyalty was one of the first CSE-listed firms to 
comment on the impact of the new U.S. policy. 
     "We do not foresee the memorandum meaningfully impacting 
the way that existing cannabis business is conducted within 
legal states," CannaRoyalty CEO Marc Lustig said in a statement. 
    Carleton said he expects all firms to respond within days. 
    The others are: Alternate Health Corp  AHG.CD , MPX 
Bioceutical Corp  MPX.CD , Nutritional High International Inc 
 EAT.CD , Golden Leaf Holdings Ltd  GLH.CD , iAnthus Capital 
Holdings Inc  IAN.CD , Marapharm Ventures Inc  MDM.CD , Friday 
Night Inc  TGIF.CD , Vodis Pharmaceuticals Inc  VP.CD , 
International Cannabrands Inc  JUJUa.CD , CannTrust Holdings Inc 
 TRST.CD , NanoSphere Health Sciences Inc  NSHS.CD , Body and 
Mind Inc  BAMM.CD , High Hampton Holdings Corp  HC.CD , 
Wildflower Marijuana Inc  SUN.CD , and Tinley Beverage Company 
Inc  TNY.CD .  
    Some 60 marijuana companies have listed on the CSE, choosing 
it over TMX Group Ltd's  X.TO  larger Toronto Stock Exchange. 
TMX said in October that it might delist pot stocks with U.S. 
ties.  urn:newsml:reuters.com:*:nL2N1MR1YA  
    TMX told Reuters via email on Thursday that its guidance on 
the matter from October stands.  
 (Additional reporting by Nichola Saminather; Editing by Jim 
Finkle and Lisa Shumaker) 
 ((alastair.sharp@reuters.com; +1 416 941 8118; Reuters 
Messaging: alastair.sharp.thomsonreuters.com@reuters.net)) 

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