In order to pursue a global cannabidiol (CBD) hemp market LiveWell Canada will transition its public shares to a different exchange.

LiveWell Canada (TSXV:LVWLannounced on Monday (November 26) it will delist its stock from the TSX Venture Exchange (TSXV) in favor for the Canadian Securities Exchange (CSE).

Shares of LiveWell have been listed on the CSE under the same ticker symbol starting on Monday and will delist from the TMX Group exchange “in the near future.”

This move is due to the restrictions the TMX Group regulators have put in place for businesses with intentions in the contentious US market.

The Quebec-based company is looking to make a play in the US market with hemp-derived CBD products for wellness consumers.

“With the CSE listing, LiveWell is now positioned to pursue CBD opportunities not only in Canada, but globally… Listing on the CSE versus the TSXV allows us to take advantage of that,” David Rendimonti, president and CEO of LiveWell, said.

Shares of LiveWell on the TSXV dropped 1.20 percent in value near the end of the trading session on Monday, and reached a price of C$0.82.

The CSE has elected to not block listings to pursue business operations in the fractured US cannabis market despite the overall federal status of the drug.

Unlike its exchange competitors in Canada, the CSE has approved and encouraged the listing of several US-focussed cannabis or related companies.

During a panel at the Arcview Investor Forum in Las Vegas in mid-November, Richard Carleton, CEO of the CSE, told the audience the exchange had 52 US-related cannabis listings.

The executive added the exchange has raised C$1.5 billion for US cannabis companies throughout the year to the month of October, a figure he clarified was constantly changing with new listings.

“The CSE embraces transforming companies like LiveWell who are growing beyond the Canadian borders,” Rendimonti added.

LiveWell is banking on the potential for the CBD market in the US following the approval of the Hemp Farming Act of 2018.

This legislation introduced by Senate Majority Leader Mitch McConnell (R-KY) seeks to remove hemp from the controlled substances list as a Schedule I drug.

“Younger farmers in my state are particularly interested in going in this direction. We have a lot of people in my state who are extremely enthusiastic about the possibilities. As we all know, hemp is very diversified,” McConnell said in a CNBC report.

LiveWell shared with investors data from the Brightfield Group of Chicago currently estimates the North American CBD from hemp market may be worth US$22 billion by 2022.

The move to ditch the TSXV exchange in favor of a more welcoming one to US assets isn’t a new one.

In February, Maple Leaf Green World (NEO:MGW) announced it would voluntarily delist from the TSXV in order to move its Canadian shares to the Aequitas NEO Exchange.

This was done as the company wanted to retain its Nevada assets.

Dale Shirley, investor relations for Maple Leaf Green World, told the Investing News Network (INN) at the time, the US side of the company was “a big piece of the company” and divesting it was not an option.

“As a company deeply entrenched in the North American cannabis sector, it was important for management of the Company to select to partner with an exchange that has clear views on where it stands in relation to the industry,” Maple Leaf told investors.

In a statement at the time, the TMX Group said it asked its applicants and existing issuers to follow its requirements issued in a notice in October 2017.

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.

American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.

Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.

Keep reading... Show less

An Emerging Markets Sponsored Commentary

Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.

Keep reading... Show less

As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.

A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.

Keep reading... Show less

The product will include polyphenols known to have significant health benefits.

BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.

The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).

Keep reading... Show less