February 01, 2018
Partner Cheryl Reicin has told Lexpert she’s not convinced the Toronto Stock Exchange (TSX) will desert marijuana business despite the caveat that Canadian marijuana companies with a U.S. component cannot currently get a listing on the TSX or Venture Exchange.
The article discusses the stark contrast between the Canada and the United States when it comes to cannabis laws; Canada is waiting for its impending federal legalization of marijuana in July while in the United States marijuana remains illegal on a federal level but legal or decriminalized in some states.
“The real question is whether anyone is going to spend the money to enforce [the U.S. feds going after cannabis companies],” Cheryl told Lexpert.
The next move by the U.S. will have a direct effect on Canadian cannabis companies that have business interests in companies south of the border.
Despite the TSX announcing in November it “may delist any of its 25 cannabis companies that have U.S. exposure,” Cheryl told Lexpert she wasn’t sure whether it would ditch those companies at the drop of a hat.
“We have some very big companies with operations in the U.S. and they have not yet been delisted,” Cheryl said.
“But the Exchange has sent letters to all the companies they believe have assets in the U.S., asking them to come in and have a conversation.”
Cheryl and her team have written extensively on cannabis which you can access through Torys’ dedicated cannabis trends page.
To learn more about Torys’ life sciences work, head to its practice page.