Canadian investors know about medical marijuana. Our equity markets have been flooded with companies peddling the stuff over the past year with what has been jokingly known as the \”Dot-Bong Bubble.\”
But next week brings something entirely a new comer to this country: a recreational marijuana stock.
You read that right. Nutritional High International Inc. completed a $1.6-million initial public offering earlier this month, and trading will commence when Monday around the Canadian Securities Exchange. Jacob Securities was the agent on the deal.
The stock gives investors contact with the unbounded world of legal pot in the United States, a far cry in the intensely regulated, quaint little cottage industry of medicinal marijuana companies that have popped up in Canada.
\”From an investor standpoint, we obviously have the recreational market offers a lot more upside when compared to Canadian medicinal marijuana market,\” David Posner, chief executive of Toronto-based Nutritional High, said in an interview.
\”We have a large investor base in Canada which was very interested in getting into the U.S. marijuana industry, and we wanted to produce a vehicle for that.\”