The Canadian Securities Exchange (CSE) continues its steady increase in the cannabis market thanks to growing number of companies the space.

In an exclusive interview with the Investing News Network (INN) Richard Carleton, CEO of the CSE, said the exchange is currently eyeing about 140 applications to list on the exchange with 60 percent of those being marijuana related.

“That’s essentially a whole year’s worth of business at this point,” Carleton told INN following his panel at the Arcview Investor Forum in Las Vegas on November 13.

The exchange has increased its presence in the cannabis space thanks to the decision from the TMX Group exchanges not allowing US operations or activities to its listings.

When the first US-focussed cannabis company to approach the CSE explained the difficulties it faced listing on those exchanges, Carleton told the audience he didn’t see the big issue.

“We said ‘will your law firm provide an opinion that you are operating a business in accordance with applicable law?’ They said ‘yes,’ we said ‘fine you’re in.’ Seemed pretty straightforward. Not a hard question,” Carleton added.

This regulation difference has effectively made it so any company looking to raise capital and be involved in the US cannabis market will head to the CSE.

Canadian investors have proven to have an appetite for these stocks and have seized the opportunity in gaining exposure to the fractured US market.

However, the CSE has still faced challenges as explained by Carleton during his panel at the Arcview forum. Carleton said during his talk:

For those of you who are Canadian policy-wonks you may understand that the Canadian clearing and settlement organization, which is owned by our biggest competitor, tried to squeeze us out of the market by refusing to provide clearing and settlement services for cannabis issuers stocks. We managed to squelch that but again, we’ve been fighting.

The executive told the audience the CSE has 52 US-related current cannabis listings and had been able to raise C$1.5 billion for US cannabis companies throughout the year to the month of October.

The executive added that figure would be outdated by the end of the week as more US-related players seek listings on the exchange.

Could CSE be facing competition for US cannabis company listings soon?

During a panel at the MJBizCon in Las Vegas Kevin Murphy, CEO of the soon to be CSE listed company Acreage Holdings, said US companies elect to raise capital in Canada due to the current regulation on a federal level.

“Canadians are leading the capitals market race,” the cannabis executive told the audience.

Murphy added he would have been honored to launch on the New York Stock Exchange (NYSE) or NASDAQ but is forced to go on the CSE for now.

He expects companies in the US to start launching on US exchanges if the “states act,” a bill looking to remove the cannabis federal ban at the state level, is passed.

When asked about the possibility for this migration of existing or soon to launch companies from the CSE, Carleton told INN the exchange is focussed on the smaller scale companies.

“A lot of the companies that we’re talking to, yes, they are bigger and some of them are actually at that stage now [ready to launch on the NYSE or NASDAQ]. But, a lot of them are significantly smaller than that. They need to raise additional growth capital to get to that level,” the executive said.

“Is there a competitive threat coming at some point? That will be a good problem to have.”

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.

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

Keep reading... Show less

The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

Keep reading... Show less

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

Keep reading... Show less

CFN Enterprises Inc. (OTCQB: CNFN) (CFN Media) partners with FMW Media Works LLC to produce a regular series on the global cannabis markets to air on major financial news networks across the US. Initial segment features leading cannabis analyst and US Multi-State Operator (MSO)

CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced that its inaugural news segment on the cannabis markets, “Cannabis Market Outlook for 2021,” will air on Bloomberg, Newsmax and Fox Business.

Keep reading... Show less