It’s high time individual investors have a diversified fund to quickly and easily invest in the so-called green rush and get a toke of America’s fastest-growing industry. The first U.S. exchange-traded fund, ETF, to focus on marijuana stocks is launching Dec. 26 — days before California legalizes recreational cannabis use on January 1. It’s not actually a new ETF though. Tierra Funds is converting the Tierra XP Latin America Real Estate ETF, trading under the symbol LARE, into the Alternative Agroscience ETF.
California Insurance Commissioner Dave Jones has been on a mission to ensure state-legal cannabis businesses have commercial insurance coverage and with his announcement of the first California cannabis surety bond program on Feb. 21, 2018, he continues to make progress.
More strife is on the horizon for Ohio’s troubled medical cannabis program. On Feb. 20, 2018, a group of unsuccessful medical cannabis applicants, led by Jimmy Gould of CannAscend Ohio LLC, filed a lawsuit challenging the state’s medical cannabis licensing process.
While the province of Newfoundland and Labrador has its key policies in place for recreational legalization and has secured a supply agreement with Canopy Growth Corporation (TSX:WEED) to provide cannabis for the province, it is now ready to hear from prospective cannabis retailers.