TMX Group Ltd., operator of the Toronto Stock Exchange, scored a coup of sorts last week when Boulder, Colorado-based Charlotte’s Web Holdings Inc. said it will delist from the Canadian Securities Exchange and list on the TSX.
“We have a healthy pipeline of CBD and hemp companies,” Anastasopoulos said in a phone interview. “We’ve been speaking to them for quite a long time, even before the passage of the bill, in anticipation that things were going to change.” CSE Chief Executive Officer Richard Carleton declined to comment other than to say “we wish our friends at Charlotte’s Web well.”
TMX is also set to secure its first Israeli cannabis listing after medical pot producer Breath of Life International Ltd. filed for an initial public offering on the TSX. The medical pot producer “has the potential to be one of the largest life sciences IPOs that we’ve seen in a long time,” Anastasopoulos said.
The market has big potential, with edibles and other extract-based products expected to account for $1.6 billion of annual sales alone, Deloitte said in the report published Monday. However, “many of these products may not be available — or available in sufficient quantity — come October,” it says. “There will be missteps, delays and frustration.”