Marijuana industry insiders say they have met with the operators of Canada’s largest stock exchange to devise a policy on investing in the U.S., where growing and selling cannabis violates federal laws.
Lawyers who work with publicly traded Canadian marijuana producers say there is an unwritten rule that companies traded on the Toronto Stock Exchange or the TSX Venture Exchange are not permitted to have investments in the U.S. cannabis sector.
TMX Group — the company that operates both the TSX and Venture Exchange — is now looking to codify that policy, particularly given the uncertainty since stemming from the change in administration in the U.S., according to industry observers.
“The big issue that’s got the exchanges taking a harder look really relates to the change in administration since President Trump’s election,” said Hugo Alves, corporate and commercial partner at Bennett Jones LLP.
“That is causing a bit of a chilling effect.”
Alexandra Posadzki – CBC News – Jun 12, 2017.
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