The Canadian Securities Exchange launched a new index meant to account for the largest companies on the exchange, some of the top weighing companies in the index operate in the cannabis business.
Released earlier this week (September 18), the exchange indicated the companies on thr index, called CSE25, represent over 50 percent of the “weighting in the larger index.”
“[I]t is appropriate that we give market participants a benchmark that monitors the performance of our largest and most liquid issues,” Richard Carleton, CEO of the CSE said in the release.
Here the Investing News Network takes a look at the top cannabis companies included in the index and their current weight as indicated by the CSE.
Liberty Health Sciences (CSE:LHS) 14.31 percent weight
Liberty Health Sciences is a partner company of Aphria (TSX:APH), a licensed producer (LP) focused on the medical market in Canada. Liberty Health on the other hand seeks to gain market share in the US, initially in the state of Florida.
Following the impact of Hurricane Irma in Florida, the company told shareholders its facilities in the state had suffered no structural damage damage to its facilities in the area had been secured. Liberty Health also recently announced it had secured two new medical cannabis dispensaries facilities, set to open later this year.
CannTrust Holdings (CSE:TRST) 13 percent weight
CannTrust is an LP offering medical users a variety of oils, dried cannabis and even vaporizers. The company plans to expand their production with a 430,000-square foot greenhouse.
Most recently the company released its financial report for the three and six month periods which ended on June 30, in which CannTrust highlighted a $4.5 million in revenue for their second quarter compared to the year before.
“Our recent listing on the CSE will provide the Company with the exposure, platform and access to capital markets required to effectively compete and participate in the dynamic growth of our industry,” chief executive officer Eric Paul said regarding the company’s launch on the CSE in August 21.
Alternate Health (CSE:AHG) 5.69 percent percent weight
Alternate Health is an international medical cannabis company seeking to increase the awareness, regulatory compliance, and appropriate usage of cannabinoids in modern medical practices. As part of their most recent quarterly report, the company announced a $7.2 million in revenue.
Dr. Michael Murphy, chief executive officer of the company said their listing on this new index was a sign of their current momentum.
Maricann (CSE:MARI) 4.90 percent weight
Maricann is a producer and distributor of medical cannabis. The company’s first phase of a 217,000 square feet expansion is set to be inspected by Health Canada in November.
On September 5, the company announced it had secured a second sales license for its Burlington, Ontario location.
“The new headquarters in Burlington will centralize our sales, marketing and customer services operations under one roof… In the near future, we expect to conduct analytical testing and bench research onsite.”
CannaRoyalty (CSE:CRZ) 4.11 percent weight
CannaRoyalty operates as an investor and operator focused in the legal cannabis sector including several holdings and what the company calls “CR Brands,” wholly owned and licensed brands that cover high growth segments.
As part of their second quarter release CannaRoyalty reported total assets worth $50,018,351. It’s product sales for the six first months of the year totaled $404,328, while its total revenue for the second quarter of the year amounted to 960,157.
“In the coming months, we will continue to add to our portfolio in key focus areas while leveraging the strength of our CR Advisory and CR Brands divisions,” chief executive officer Marc Lustig said in the company’s press release.
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.