Why Canada Rules as a Haven for Listing Cannabis C
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Posted On: 05/21/2019 11:24:30 AM
Why Canada Rules as a Haven for Listing Cannabis Companies
“The Toronto Stock Exchange does not allow their companies to work with U.S. cannabis companies due to the illegality of cannabis at the federal level. When this decision was initially made, several Canadian cannabis companies were forced to divest their U.S. investments in order to remain on the exchange. The Canadian Securities Exchange has no problem with it at all, which is why so many U.S. companies are listed on the CSE.
The New York Stock Exchange (NYSE) lists many Canadian cannabis companies, but that is because they recognize that Canadian companies aren't breaking any laws in their home country. The Nasdaq lists biotech companies such as GW Pharmaceuticals (GWPH) and Insys Therapeutics Inc. (INSY) , but it also has rejected ancillary companies such as Massroots Inc. (MSRT) and has not rolled out the welcome mat for High Times Holdings, which has expressed an interest in listing there. Software company MJ Freeway, which is a seed-to-sale tracking company, has expressed an interest in listing on the Nasdaq, but that hasn't happened yet.
The OTC Markets Group lists many of the CSE cannabis companies, but the credibility isn't the same. The OTC lists large cannabis companies that aren't allowed on the NYSE or Nasdaq but that still file audited results on a regular basis. The problem is that the OTC also lists companies that don't regularly file financials. Some of the problem children are so bad that the OTC places a skull and crossbones on their company pages. By allowing those companies to list alongside the better ones, the OTC doesn't have the prestige of its competition.”
https://realmoney.thestreet.com/investing/can...s-14826217
“The Toronto Stock Exchange does not allow their companies to work with U.S. cannabis companies due to the illegality of cannabis at the federal level. When this decision was initially made, several Canadian cannabis companies were forced to divest their U.S. investments in order to remain on the exchange. The Canadian Securities Exchange has no problem with it at all, which is why so many U.S. companies are listed on the CSE.
The New York Stock Exchange (NYSE) lists many Canadian cannabis companies, but that is because they recognize that Canadian companies aren't breaking any laws in their home country. The Nasdaq lists biotech companies such as GW Pharmaceuticals (GWPH) and Insys Therapeutics Inc. (INSY) , but it also has rejected ancillary companies such as Massroots Inc. (MSRT) and has not rolled out the welcome mat for High Times Holdings, which has expressed an interest in listing there. Software company MJ Freeway, which is a seed-to-sale tracking company, has expressed an interest in listing on the Nasdaq, but that hasn't happened yet.
The OTC Markets Group lists many of the CSE cannabis companies, but the credibility isn't the same. The OTC lists large cannabis companies that aren't allowed on the NYSE or Nasdaq but that still file audited results on a regular basis. The problem is that the OTC also lists companies that don't regularly file financials. Some of the problem children are so bad that the OTC places a skull and crossbones on their company pages. By allowing those companies to list alongside the better ones, the OTC doesn't have the prestige of its competition.”
https://realmoney.thestreet.com/investing/can...s-14826217
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