They're waiting on SEC approval. Here is the PR.
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Posted On: 02/23/2017 6:02:47 PM
They're waiting on SEC approval. Here is the PR.
First Ever Cannabis-Based ETF to Include PharmaCyte Biotech, Abbott Laboratories, and GW Pharmaceuticals
9:15 AM ET 2/23/17 | Marketwired
NEW YORK, NY--(Marketwired - February 23, 2017) - PharmaCyte Biotech (OTCQB: PMCB) will join GW Pharmaceuticals, Abbott Laboratories and 66 other publicly traded companies in what could be the first ever cannabis exchange-traded fund (ETF) -- the Emerging AgroSphere ETF. One week ago, ETF Managers Group, headquartered in Summit, New Jersey, filed an initial registration statement with the SEC to become the first of its kind in the ETF industry (https://www.sec.gov/Archives/edgar/data/1467831/000114420417009539/v459698_485apos.htm).
According to the filing, the proposed fund will be focused on medical cannabis and "will not invest in any companies that are focused on serving the non-medical marijuana market in the United States, Canada or any other country unless and until such time as the production and sale of non-medical marijuana becomes legal in the United States, Canada or such other country, respectively."
Now ETF Managers Group will wait for the SEC to approve the fund, and, if approved, investors can own a piece of the 69 companies that make up the proposed fund all under one ETF. This, of course, means that fund managers will need to buy up shares of the companies that make up the fund, which should increase the liquidity of each of these companies. The index composition can be viewed at: https://www.solactive.com/indices/?indexmembers=DE000SLA1CR1
PharmaCyte Biotech, GW Pharmaceuticals, Abbot Laboratories, Cannabis Science Inc., Medical Marijuana Inc. and the 64 other companies that will make up the proposed ETF, will fall into one of the following three categories. The companies will either be (i) engaged in lawful medical research intended to lead to the production of government approved prescription drugs which utilize natural or synthetic versions of the cannabinoid, cannabidiol (CBD), and other cannabis based extracts, (ii) involved in the production or sale of products which are legal derivatives of industrial hemp, or (iii) involved in the supply chain of either category of company.
First Ever Cannabis-Based ETF to Include PharmaCyte Biotech, Abbott Laboratories, and GW Pharmaceuticals
9:15 AM ET 2/23/17 | Marketwired
NEW YORK, NY--(Marketwired - February 23, 2017) - PharmaCyte Biotech (OTCQB: PMCB) will join GW Pharmaceuticals, Abbott Laboratories and 66 other publicly traded companies in what could be the first ever cannabis exchange-traded fund (ETF) -- the Emerging AgroSphere ETF. One week ago, ETF Managers Group, headquartered in Summit, New Jersey, filed an initial registration statement with the SEC to become the first of its kind in the ETF industry (https://www.sec.gov/Archives/edgar/data/1467831/000114420417009539/v459698_485apos.htm).
According to the filing, the proposed fund will be focused on medical cannabis and "will not invest in any companies that are focused on serving the non-medical marijuana market in the United States, Canada or any other country unless and until such time as the production and sale of non-medical marijuana becomes legal in the United States, Canada or such other country, respectively."
Now ETF Managers Group will wait for the SEC to approve the fund, and, if approved, investors can own a piece of the 69 companies that make up the proposed fund all under one ETF. This, of course, means that fund managers will need to buy up shares of the companies that make up the fund, which should increase the liquidity of each of these companies. The index composition can be viewed at: https://www.solactive.com/indices/?indexmembers=DE000SLA1CR1
PharmaCyte Biotech, GW Pharmaceuticals, Abbot Laboratories, Cannabis Science Inc., Medical Marijuana Inc. and the 64 other companies that will make up the proposed ETF, will fall into one of the following three categories. The companies will either be (i) engaged in lawful medical research intended to lead to the production of government approved prescription drugs which utilize natural or synthetic versions of the cannabinoid, cannabidiol (CBD), and other cannabis based extracts, (ii) involved in the production or sale of products which are legal derivatives of industrial hemp, or (iii) involved in the supply chain of either category of company.
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