Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. Aphria Inc
  6. News
  7. Summary
    APH   CA03765K1049

APHRIA INC

(APH)
SummaryChartsNewsRatingsCalendarCompany 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Toronto exchange may delist marijuana firms with U.S. operations

10/16/2017 | 07:35pm EST
FILE PHOTO -  A TMX Group sign, the company that runs the Toronto Stock Exchange, is seen in Toronto

TORONTO (Reuters) - Canada's TMX Group Ltd (>> TMX Group Ltd), 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.

TORONTO (Reuters) - Canada's TMX Group Ltd (>> TMX Group Ltd), 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 disclosed its plans as Canadian securities regulators said companies must disclose any connection to the U.S. marijuana industry, which has grown as some states relax rules around cultivation and distribution. The regulators did not prohibit marijuana firms with U.S. ties from listing in Canada, leaving room for any firms rejected by TMX to move to other exchanges.

TMX said it would begin a review of cannabis-related companies listed on its exchanges by the end of the year to determine whether their operations violate listing standards.

"There may be issuers on our markets that are not in compliance with our requirements," Ungad Chadda, TMX's head of capital formation for equity markets, told reporters at a briefing at the company's headquarters.

While U.S. federal law prohibits marijuana, a memo issued by former U.S. Deputy Attorney General James Cole in 2013 directed federal prosecutors not to go after those that complied with state law.

Canada has a national, regulated medical marijuana industry and plans to legalize pot for recreational use by mid-2018.

About 25 companies listed on TMX exchanges cultivate, distribute and possess marijuana, while others provide services to the cannabis industry, Chadda said. He declined to say how many have U.S. exposure.

One company that may run afoul of the TMX review is Aphria Inc (>> Aphria Inc), which has a market capitalization of C$1.1 billion ($879 million) and has invested in companies operating in Florida and Arizona.

Aphria said it had no immediate comment.

TMX's smaller rival, the Canadian Securities Exchange, has said it would welcome cannabis companies with U.S. interests and has already begun to recruit them.

Twelve of 50 marijuana-related companies listed with CSE have U.S. exposure, according to the exchange's chief executive, Richard Carleton.

The new rules from securities regulators require marijuana companies to clearly describe their U.S. activities and explain any risks that could result from changes in U.S. federal enforcement, said Louis Morisset, chair of the Canadian Securities Administrators.

($1 = 1.2513 Canadian dollars)

(Reporting by Alastair Sharp, additional reporting by Leah Schnurr in Ottawa; editing by Tom Brown and Richard Chang)

By Alastair Sharp

Stocks treated in this article : TMX Group Ltd, Aphria Inc

ę Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
CRONOS GROUP INC. 4.81% 5.66 Delayed Quote.-38.91%
HEXO CORP. 0.78% 1.29 Delayed Quote.725.81%
ORGANIGRAM HOLDINGS INC. 2.88% 2.5 Delayed Quote.43.79%
All news about APHRIA INC
12:56pTilray Launches Fast-Acting Medical Cannabis Oral Strips
MT
08:31aManitoba Harvest Introduces Hemp Hearts Health Hack to Thrive During the Holidays
GL
07:31aLaunch of Tilray's Fast-Acting Oral Strips Highlights Commitment to Medical Cannabis In..
GL
11/25Greenrise Global Brands Welcomes Germany's Legalization of Cannabis for Adults
MT
11/23CANNABIS STOCKS BRIEF : Barclays Initiates Underwhelming Ratings on Canada Cannabis Cos Du..
MT
11/23TILRAY BRIEF : Given Underweight Rating and US$10 Target at Barclays, adds Barclays
MT
11/22TILRAY, INC. : Submission of Matters to a Vote of Security Holders (form 8-K)
AQ
11/22Tilray Hosts 2021 Annual Meeting of Shareholders
AQ
11/22SOCIAL BUZZ : Wallstreetbets Trend Higher Lead By Tesla, Lucid, Tilray
MT
11/18TILRAY, INC. : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
More news
Analyst Recommendations on APHRIA INC
More recommendations
Chart APHRIA INC
Duration : Period :
Aphria Inc Technical Analysis Chart | MarketScreener
Full-screen chart
Managers and Directors
Irwin David Simon Chairman & Chief Executive Officer
Carl A. Merton Chief Financial Officer
Joshua Eades Chief Science Officer
Catherine Jacobson Vice President-Regulatory & Medical Affairs
Lloyd Brathwaite Chief Information Officer
Sector and Competitors
1st jan.Capi. (M$)
APHRIA INC0.00%4 295
JOHNSON & JOHNSON0.44%416 161
ROCHE HOLDING AG18.38%343 323
PFIZER, INC.48.55%306 912
NOVO NORDISK A/S66.91%247 444
ELI LILLY AND COMPANY47.55%225 859