LOS ANGELES, July 13, 2017 /Weed Wire/ — MJIC Inc. has completed its quarterly rebalancing of the Marijuana Index, adding seven new cannabis companies to the Canadian Marijuana Index.
The U.S. Marijuana Index and Canadian Marijuana Index track the top-performing public cannabis companies operating in the United States and Canada, respectively. These indices are combined to form the North American Marijuana Index. Each index is equal-weighted and rebalanced quarterly.
The North American Marijuana Index now has 36 constituents, with the U.S. Marijuana Index and the Canadian Marijuana Index each containing 18 constituents respectively.
The minimum trading requirements for companies to join the indices was adjusted down at the end of the second quarter. Companies must have achieved a weighted average minimum market capitalization of US$30 million, daily trading volume of US$400,000 and share price of US$0.10. Companies with more than US$5 million in revenue over the prior year are exempt from the above trading requirements.
Companies added to the Canadian Marijuana Index include:
- ABcann Global Corporation (TSXV:ABCN) is a Canadian Licensed Producer specializing in high-tech, computer-controlled growing systems.
- Cannabis Wheaton Income Corp. (TSXV:CBW) partners with Canadian LP’s to provide funding in exchange for minority equity interests and a portion of cultivation production.
- Invictus MD Strategies Corp. (TSXV:IMH, OTC:IVITF) owns interests in multiple Canadian Licensed Producers and a fertilizer manufacturer and supplier.
- Maricann Group Inc. (CSE:MARI) is a vertically-integrated greenhouse producer and distributor of medical cannabis in North America and Europe.
- MedReleaf Corp. (TSX:LEAF) is a Canadian Licensed Producer and the first and only ISO 9001 certified medical cannabis producer in North America.
- Newstrike Resources Ltd. (TSXV:HIP) owns Up Cannabis Inc., which is a Canadian Licensed Producer based in Ontario.
- Tetra Bio-Pharma Inc. (CSE:TBP, OTC:TBPMF) is engaged in the development of biopharmaceuticals and natural health products containing cannabis.
No new companies were added to the U.S. Marijuana Index.
“Cannabis stocks saw a strong correction in the second quarter of 2017 as the U.S. Marijuana Index and Canadian Marijuana Index decreased 25% and 26%, respectively. The Canadian Marijuana Index recorded its worst quarter since its inception in January 2015, despite the Canadian government introducing its new recreational cannabis laws in April,” said Dan Nicholls, Vice President. “Average daily volume for the constituents on both indices declined 33% compared to the first quarter.”
About The Marijuana Index
The Marijuana Index tracks the leading cannabis and hemp stocks operating in the United States and Canada. It offers investors the tools and information they need to monitor the public markets in this growing industry. The Marijuana Index is owned and managed by MJIC, Inc. The Marijuana Index is for informational purposes only. Inclusion in the Marijuana Index is not an endorsement or recommendation for any company.
For more information, please visit www.marijuanaindex.com.
About MJIC, Inc.
MJIC, Inc., a privately held company, is a diversified holding company focused on providing distribution, media and events, and business services within the cannabis industry. MJIC works alongside some of the top businesses and industry leaders in the nation, and along with its substantial stake within the cannabis business, is quickly emerging as one of the industry’s largest businesses today.
To learn more about MJIC, Inc., please visit: www.mjic.com.