Toronto-based medical marijuana holding company PharmaCan Capital will be going public next week, allowing investors access to a eight medical marijuana producers, five of which are licensed by Health Canada. Its ticker symbol on the TSX venture exchange will be “MJN”.
PharmaCan usually acquires 10 to 30 per cent stake in medical marijuana producers, and is in talks with other producers to make further investments in the field.
“An investor that seeks exposure to the fast-growing medical marijuana industry would be interested in PharmaCan because it mitigates the risk of investing in the industry,” said CEO Paul Rosen, as reported by Reuters. “We’ve created a diversified, regionally-based portfolio of licensed producers. We’re the only company in Canada that has this significant an investment in this many licensed producers.”
The Canadian medical marijuana industry is projected to reach $1.3 billion in 10 years.
