The TSX Venture exchange in Canada released, on Thursday (February 22), its annual ranking for the exchange’s top performing companies, highlighting a variety of cannabis companies operating in different sectors of the overall industry. The complete list includes companies from various sectors like mining and technology.

“We are proud to once again recognize the breakthrough success of Venture 50 companies and to highlight one of the world’s leading capital formation platforms for early-stage growth companies,” Brady Fletcher, managing director of the TSXV exchange said in the release.


As part of the exchange’s ranking method, the companies that made the list were selected based on developments in their market capitalization growth, share price appreciation, and trading volume.

All cannabis companies except for Revive provided the TSXV with a short video detailing the company’s business model and growth last year.

For the second year in a row Emerald Health Therapeutics (TSXV:EMH) received a nod in the list, but this year the company earned first place in the clean technology and life science category.

Cannabis operations well represented in TSXV annual ranking

The complete list of cannabis companies on the TSX Venture 50 includes:

  • Emerald Health Therapeutics
  • Cronos Group (TSXV:MJN)
  • Revive Therapeutics (TSXV:RVV)
  • Radient Technologies (TSXV:RTI)
  • Hempco Food and Fiber (TSXV:HEMP)

Radient earned top honors in the diversified industries sub-sector of the TSXV. In Radient’s video, Denis Taschuk president and CEO said the company’s growth during 2017 was due to its move into the cannabis market.

“We forged a very important relationship with Aurora Cannabis as a cornerstone shareholder and development partner,” Taschuk said. Last year Aurora Cannabis (TSXV:ACB) increased its initial $12 million strategic investment in Radient.

The agreement between the two companies relates to the production of extracts services from Radient for Aurora, including both cannabis and hemp.

He finished by detailing the company’s planned goals throughout 2018, including the completion of an expansion to its facilities to facilitate the official production of cannabis oils. “We would like to get our licensing out of the way so that we can so that we can get into the production of oils,” Taschuk said.

List included Canadian producer with international ambitions

Cronos’, another company making the list for the second year in a row, has not slowed down its international efforts. In February the company launched an Australian subsidiary focused on the expanding medical cannabis market.

During a call with shareholders, Cronos CEO Mike Gorenstein announced the details of a new 20,000 square feet production facility set to be constructed for a total production capacity of 2,000 kilograms. Gornstein added the facility would most likely be expanded.

During his video for the TSXV, Gornstein said his company saw success by differentiating themselves from others with a discipline on capital and no delusions when accessing capital. He added his company grew 967 percent in their revenues year-over-year during the last quarter of the previous year.

One of the smallest cannabis companies included in the list, based on market capitalization, is Hempco Food and Fiber, said their inclusion in this list validates its current position and long-term value to shareholders.

“As consumer demand for plant-based protein and whole food nutrition continues to show strong positive momentum, we anticipate that a growing number of people will seek to incorporate hemp-based foods and food supplements into their diet,” Diane Jang, CEO of the company said.

Investor Takeaway

As the complete legalization of cannabis inches closer is easy to see why some of these companies have performed well in the space. The TSXV also rewarded these companies thanks to their fundamentals and well-executed business plans throughout the year.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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