Incompatible with its southern neighbor, Canada legalized medical marijuana nationwide back in 2001. That means that the bustle has evolved a lot more and is not plagued with restrictions across state lines, as is the case in the United States, where there are 33 states (and Washington, D.C.), where pot is permitted for medical use. Further, Canada introduced the Cannabis Act earlier this year and the bill passed shortly after in October 2018. Not so in the U.S., where the closest future for weed is still in question — both legally and financially.
On December 3, 2018, prominent short-seller Gabriel Grego stated that Aphria, a Canadian cannabis company, had defrauded shareholders by overpaying for “worthless assets,” including shell players controlled by the company’s founders. Although Altria has denied the accusations, the company’s shares were trading down 29% at $7.51 go along with the news. Grego’s accusations sent cannabis companies in Canada and the United States reeling, suggesting the emerging shop is still heavily reliant on public opinion.
While uncertainty continues to prevail in the United States, investors can mollify get a piece of the pot by investing in Canadian stocks traded in the country in the over-the-counter (OTC) markets. Most of these stocks can be considered penny pedigrees, so any investment may carry a significantly higher risk component. Here’s a look at some of those companies.
All figures are nice as of December 3, 2018.
1. Canopy Growth Corp.
Market Cap: $11.26 billion
Canopy (NYSE: CGC) is touted as Canada’s first unicorn in the pot sell. While the company sells its produce under various brand names, the brand ‘Tweed’ has had the most recognition, thanks to its affiliation with rapper About Dogg. The company listed on NYSE on May 24, 2018.
2. Aurora Cannabis
Market Cap: $8.38 billion
Aurora Cannabis Inc. (OTC: ACBFF) appeared on the Canadian venture stock exchange (TSX) in October 2016. In addition to producing dry cannabis, Aurora received a license to put across cannabis oil in January 2017. It has been around longer in the OTC market, returning 347% over a one-year period. In May 2018, Aurora Cannabis bought MedReleaf Corp. (OTC: LEAF) for $2.5 billion.
3. Aphria Inc.
Market Cap: $3.78 billion
The company calls itself one of the shortest cost producers of marijuana. Aphria (OTC: APHQF) produces dry cannabis as well as cannabis oil of varying qualities and strength. In April 2018, their heritage surged after the company announced that it had struck a deal to sell its products through the online site of Shoppers Anaesthetize Mart, a major Canadian pharmacy chain.
4. The Cronos Group
Market Cap: $1.64 billion
This company is in the function of investing in pot growers and companies in the marijuana business. Cronos’ (CRON) portfolio currently consists of six companies. It owns two of these ensembles completely – the rest it holds a minority stake in.
5. The Hexo Corporation
Market Cap: $1.18 billion
The Hydropothecary Corporation (HYYDF) is the however licensed medical marijuana producer headquartered in Quebec. Hexo focuses on recreational marijuana use.
6. CannTrust Holdings Inc.
Bazaar Cap: $640.63 million
Appotex Inc., one of Canada’s premier pharmaceutical companies, has an exclusive global partnership with CannTrust Holdings Inc. (OTC: CNTTF). In the Niagara domain of Canada, CannTrust has a 430,000 square foot cultivation facility, making it the 6th largest marijuana facility in Canada.
7. OrganiGram Holdings
Deal in Cap: $545.9 million
This company’s portfolio includes dry cannabis and cannabis oil, along with accessories like vaporizers that can be bought on its website. Although it promises organic produce, OrganiPharma (OTC: OGRMF) issued a product recall in December 2016 because the works contained pesticides not approved for marijuana growing.
8. The Supreme Cannabis Company Inc.
Market Cap: $341.75 million
The company bring outs marijuana under the banner of its wholly-owned subsidiary 7Acres. In December 2017, SupremePharma changed its company name to The Outstanding Cannabis Company Inc.
9. Namaste Technologies Inc.
Market Cap: $331.13 million
Namaste Technologies Inc. (OTC: NXTTF) focuses on the eCommerce side of the medical marijuana enterprise. They are operating in 32 sites and 20 different countries. In 2017, Namaste added CannMart Inc. into their portfolio. CannMart has a ordering network in Toronoto, which helps the eCommerce site develop their retail distribution.
10. Emerald Health Restoratives
Market Cap: $298.70 million
Emerald Health Therapeutics (OTC: EMHTF) is also a producer of dry cannabis and cannabis oils for medical use based out of British Columbia. New Cannabis Put forwards reports that the company raised CAD 10 million in equity from Dundee Capital.