The U.S. cannabis stocks we’ve discovered operate primarily in the United States and have recently listed, or plan to list, on a Canadian stock exchange
SmallCapPower | November 26, 2018: Canadian stock exchanges have served as a hot spot for U.S. cannabis companies as they list their shares north of the border to better access capital markets. Due to the complex regulatory environment in the U.S., where cannabis use may be legal at the state level but illegal at the federal level, such companies have increasingly turned to the Canadian Securities Exchange (CSE) to finance their businesses. MedMen Enterprises Inc. (CSE:MMEN) and Green Thumb Industries Inc. (CSE:GTII) are perhaps the most notable listings of U.S. operators on the CSE, both of which sport multi-billion dollar valuations. Today we have identified two U.S. cannabis stocks that have recently listed on the CSE, as well as one that has received conditional approval to list on the CSE.
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*Market Cap and share prices as of November 22, 2018.
Acreage Holdings Inc. (CSE:ACRG.U) – $22.28
Cannabis
Based out of New York City, Acreage Holdings is a vertically-integrated owner of cannabis assets and licenses across various states in the U.S. where medical and/or recreational use of cannabis is legal. As of September 2018, the Company has cultivating, processing, and dispensing operations in 14 states, including New York and California. Acreage Holdings has signed several high-profile individuals as advisors and members of the board, including John Boehner, former Speaker of the House, and more recently, Brian Mulroney, former Prime Minister of Canada. The Company recently completed an RTO and began trading on the Canadian Securities Exchange on November 15, 2018.
- Market Cap: $484.6 Million
- 1-Week Return: +10.0%
Curaleaf Holdings Inc. (CSE:CURA) – $8.24
Cannabis
Curaleaf Holdings is a vertically-integrated cannabis company operating in 10 states across the United States including: Arizona, Connecticut, Florida, Maine, Maryland, Massachusetts, Nevada, New Jersey, New York and Oregon. Additionally, the Company is currently in the process of acquiring licenses to sell cannabis in the states of California and Pennsylvania. On October 29, 2019, Curaleaf listed on the Canadian Securities Exchange and completed the largest cannabis equity financing to date, raising approximately US$400 million.
- Market Cap: $3.8 Billion
- 1 Month Return: +12.9%
Tilt Holdings Inc. (CSE:TILT) – Pending
Cannabis
Based in West Palm Beach, Florida, Tilt Holdings is a vertically-integrated infrastructure and technology cannabis company. The Company provides software, infrastructure, financing and additional services to cannabis retailers. Tilt Holdings services are provided through its four portfolio companies: Briteside, Baker Technologies, Sea Hunter Therapeutics, and Sante Veritas Holdings. The Company recently raised nearly US$120 million in equity financing. Tilt Holdings has received conditional approval to list its shares on the CSE under the ticker “TILT” and is expected to do so by the end of the month.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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