It wasn’t that long ago that the possibility of  a cannabis ETF was purely speculation. Now, it’s a reality.
On Wednesday (April 5), Horizons ETF Management officially announced the launch of the world’s first marijuana ETF on the Toronto Stock Exchange, Horizons Medical Marijuana Life Sciences (TSX:HMMJ).
As noted by the press release, the ETF is the first of its kind to offer exposure to Canadian and American-listed stocks involved with medical marijuana bioengineering and production.
Canada is the birthplace of ETFs and has been home to many firsts in the industry. The Horizons Medical Marijuana Life Sciences ETF is another made-in-Canada ETF milestone, the world’s first marijuana ETF,” Steve Hawkins, President and Co-CEO of Horizons ETFs said in the press release. “At Horizons, we take pride in our innovation, so we’re very happy that for the first time, investors will be able to access a low-cost, diversified portfolio of companies that are directly involved in the rapidly growing medical marijuana industry.”

 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

While the launch of the first ever cannabis etf is indeed exciting, it certainly doesn’t come without regulations: companies must meet minimum asset and liquidity thresholds to be considered. Following that, stocks are then readjusted on a quarterly and market-capitalization basis so they can’t exceed more than 10 percent of the index.
In describing potential investors who may be interested in the fund, Hawkins outlined them as “somebody who’s interested investing into the marijuana industry [and] believes that there’s a growth story with the marijuana industry.”
Still, he cautioned that investors may feel uncertain about volatility surrounding Canadian cannabis stocks.
“If you’re invested in one company, you’re taking a lot more individual risk from an investor perspective,” Hawkins told CBC.
On that note, to start off 14 marijuana stocks will be included in the fund, namely:
  • Canopy Growth (TSX:WEED), whose shares have increased 0.7 percent to $10.13 over a one-day period;
  • Aurora Cannabis (TSXV:ACB), shares of which have moved 3.08 percent since Wednesday’s announcement to $2.69;
  • Aphria (TSX:APH), whose stocks has seen a 2.22 percent increase to $7.41
  • Emblem (TSXV:EMC), whose shares have seen increase of 3.23 percent to $2.24 since Wednesday; and
  • CanniMed Thereapeutics (TSX:CMED),  shares of which have risen 1.75 percent since Wednesday to $12.24.

Similarly, the new ETF exchange itself has performed well since officially opening, rising 2.96 percent to 10.43 points as of 2:24 p.m EST on Thursday.
Don’t forget to follow us @INN_Resource for real-time news updates.
Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article. 


 

Cannabis - Will The Fortune 500 Join The Party?

 
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
 

Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (CSE: TRUL) (OTCQX: TCNNF), a leading and top-performing cannabis company in the United States today announced the appointment of Marcum LLP (“Marcum”) as its independent registered public accounting firm, effective July 5, 2021 . Marcum was appointed following the resignation of MNP LLP (“MNP”) as the Company’s independent registered public accounting firm effective July 5, 2021 .

“We would like to thank MNP for their guidance and expertise over the past two years and we look forward to working with Marcum as the Company’s new independent registered public accounting firm,” stated Chief Financial Officer, Alex D’Amico.

Keep reading... Show less

Cannabis-infused beverages are not a new product concept, but this summer Canadian drink makers hope consumers will discover them for the first time.

Recreational cannabis beverages have beguiled Canadian producers through different avenues, and many continue to make investments. The promise of these drinks lies in the potential of a more welcoming option for new consumers who may be out of their depth with rolled-up dried flower.

Keep reading... Show less

In the news release, BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years, issued 07-Jul-2021 by BioHarvest Sciences Inc. over PR Newswire, we are advised by the company that an incorrect version of the release was issued inadvertently. The complete, corrected release follows:

BioHarvest Sciences Inc.‘s First Cannabis Cell Reservoir Produces Ongoing Flowering Stage Cannabinoid Cells For 2 Years

Keep reading... Show less

Trulieve is the first medical cannabis operator to start planting in the state

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today that it commenced operations in West Virginia . The Company has begun cultivation at their 100,000 square foot size facility in Huntington, West Virginia .

Keep reading... Show less

– The Company demonstrates the efficiency and reliability of its BioFarming technology by reducing production cycle time for Cannabis from 14-23 weeks to 3-4 weeks.

– The Company’s BioFarming technology will allow the Company to harvest 13-17 cycles per year versus 2-4 cycles per year for conventional Cannabis agriculture.

Keep reading... Show less