News Ticker

WIRE: Seven new cannabis companies added to marijuana stock index

LOS ANGELES — MJIC Inc. has completed its quarterly rebalancing of the Marijuana Index, adding five new cannabis companies to the U.S. Marijuana Index and two new companies to the Canadian Marijuana Index.

The U.S. Marijuana Index and Canadian Marijuana Index track the top-performing public cannabis companies operating in the United States and Canada, respectively. These indeces are combined to form the North American Marijuana Index. Each index is equal-weighted and rebalanced quarterly. The North American Marijuana Index now has 32 constituents, with the U.S. Marijuana Index and the Canadian Marijuana Index containing 20 constituents and 12 constituents, respectively.

The minimum trading requirements for companies to join the indeces was increased at the end of the first quarter. Companies must have achieved a weighted average minimum market capitalization of US$30 million, daily trading volume of US$600,000 and share price of US$0.10. Companies with more than US$5 million in revenue over the prior year are exempt from the above trading requirements.

Companies added to the U.S. Marijuana Index include:

  • AmeriCann Inc. (OTCQX:ACAN) develops, owns and supports advanced medical cannabis cultivation and processing facilities.
  • Cannabics Pharmaceuticals Inc. (OTCQB:CNBX) is dedicated to the development of personalized anti-cancer and palliative treatments using cannabinoid formulations.
  • Marapharm Ventures Inc. (CSE:MDM) (OTCQB:MRPHF) invests and acquires start-up ventures in the medical and recreational marijuana space in North America.
  • mCig, Inc. (OTCQB:MCIG) is a diversified company focused on distributing technology, products, and services for the marijuana industry.
  • Solis Tek Inc. (OTCQB:SLTK) is engaged in the research, development and manufacturing of energy efficient horticulture lighting and ancillary equipment.

Companies added to the Canadian Marijuana Index include:

  • CanniMed Therapeutics Inc. (TSX:CMED) is Canada’s original Licensed Producer and is focused on producing and selling pharmaceutical-grade cannabis products in Canada and overseas.
  • Hydropothecary Corporation (TSXV:THCX) is a Licensed Producer and distributor of medical marijuana under Heath Canada’s Access to Cannabis for Medical Purposes Regulations (ACMPR).

“The first quarter of 2017 saw the cannabis stock market settle from the previous fall’s elections, with average daily volatility and volume for the constituents on the North American Marijuana Index decreasing 67% compared to the fourth quarter of 2016,” said Dan Nicholls, Vice President. “Overall, the Canadian Marijuana Index increased 7% and the U.S. Marijuana Index decreased 1% in the first quarter.”

About The Marijuana Index
The Marijuana Index tracks the leading marijuana stocks and hemp stocks operating in the United States and Canada. It offers investors the tools and information they need to monitor the public markets in this growing industry. The Marijuana Index is owned and managed by MJIC, Inc. The Marijuana Index is for informational purposes only. Inclusion in the Marijuana Index is not an endorsement or recommendation for any company.

For more information, please visit www.marijuanaindex.com.

About MJIC, Inc.
MJIC, Inc., a privately held company, is a diversified holding company focused on providing distribution, media and events, and business services within the cannabis industry. MJIC works alongside some of the top businesses and industry leaders in the nation, and along with its substantial stake within the cannabis business, is quickly emerging as one of the industry’s largest businesses today.

To learn more about MJIC, Inc., please visit: www.mjic.com.

Contact
Dan Nicholls
MJIC, Inc.
dan@mjic.com
248-505-4893

Leave a comment