CannaRoyalty Welcomes Favourable TMX Group Update Regarding Issuers with U.S. Marijuana-Related Activities
TMX Group confirms it will rely on the Canadian Securities Administrators’ recommendation to defer to individual exchange’s rules
Ottawa, Canada – November 24, 2017 – CannaRoyalty Corp. (CSE: CRZ) (OTCQX: CNNRF) (“CannaRoyalty” or the “Company”), commented on TMX Group’s (“TMX”) press release TMX Group Provides Update Regarding Regulatory Engagement, dated November 24, 2017. Media reports in August 2017 speculated that there might be a Canadian Depository for Securities (“CDS”) ban on the clearing of securities of issuers with marijuana-related activities in the U.S. TMX has confirmed there is no current CDS ban on the clearing of securities of issuers with marijuana-related activities in the U.S., and that it is working to arrive at a solution founded on each exchange’s listing requirements.
“This is a positive development for CannaRoyalty and for any issuer with U.S. marijuana-related activities traded on the Canadian Securities Exchange (“CSE”),” said Marc Lustig, CEO of CannaRoyalty. “The CSE has repeatedly expressed support for issuers with U.S. cannabis assets and as expected, TMX has confirmed it will base any rules regarding the clearing of these issuers on the rules of individual exchanges. We expect this guidance to continue to remove any persisting rumours regarding the Canadian regulators’ view of issuers with U.S. cannabis assets.”
This news follows the release of Canadian Securities Administrators (“CSA”) Staff Notice 51-352, Issuers with U.S. Marijuana-Related Activities on October 16, 2017, which reinforced individual exchanges’ right to determine the eligibility of individual issuers to list based on those exchanges’ listing requirements.
CannaRoyalty is an active investor and operator in the legal cannabis sector. Our focus is building and supporting a diversified portfolio of growth-ready assets in high-value segments of the cannabis sector, including research, consumer brands, devices and intellectual property. Our management team combines a hands-on understanding of the cannabis industry with seasoned financial know-how, assembling a platform of holdings via royalty agreements, equity interests, secured convertible debt, licensing agreements and its own branded portfolio.
For further inquiries, please contact:
Marc Lustig, CEO
Jonathan Ross, CFA
LodeRock Advisors Inc.