Canadian cannabis stocks fell on Thursday after the U.S. government said it would resume enforcement of federal laws banning marijuana in states that had legalized pot, disrupting a seven-day rally that boosted shares to record highs.
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Medical marijuana maker Aphria Inc said on Thursday it would invest C$10 million ($7.80 million) in the proposed combination of two recreational marijuana companies to expand its presence in the sector.
Shares of Canadian marijuana company Aphria Inc sank on Tuesday, after the operator of the Toronto Stock Exchange said cannabis companies with U.S. interests would come under heightened scrutiny and could be delisted.
Canada’s TMX Group Ltd (X.TO), operator of the Toronto Stock Exchange, said on Monday that it might delist stocks of marijuana companies with interests in the United States, where their operations are illegal under federal law.
TMX Group Ltd. (TSX:X), the operator of the Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), has reportedly been speaking with regulators to figure out what will happen to Canadian marijuana producers with assets in the U.S.
Canada’s TMX Group Ltd (X.TO) is seeking guidance from the country’s securities regulators, it said on Thursday, as it weighs how to deal with marijuana companies listed in Canada with interests in the United States, where the business remains federally illegal.
TMX Group Ltd’s CEO on Thursday brushed off signs that the grip of Canada’s dominant stock exchange operator on overall trading volumes was slipping, saying recent market share losses were mostly due to its rejection of certain listings.