Financing abounds for medical marijuana startups

marijuanaindex.com
Date:
Saturday, Mar 15, 2014

Financing abounds for medical marijuana startups All of the medical marijuana producers approved by Health Canada or in the approval process say they’d been approached with multiple financing offers.

MICHEL COMTE / AFP/GETTY IMAGES

Tweed Inc. workers tend to medical marijuana plants at a new commercial operation set up inside a former Hershey’s chocolate factory in Smiths Falls, Ontario, an hour’s drive from Canada’s capital Ottawa, on February 4, 2014. AFP PHOTO/MICHEL COMTE By: Ashante Infantry Business reporter, Published on Thu Mar 13 2014

Canada’s new medical marijuana industry is set to make history on the Toronto Stock Exchange.

Tweed Inc., among the first ten companies licensed by the federal government to produce and distribute pot, is in the final stages of approval for a listing on the TSX Venture Exchange.

The firm has a ticker secured — TWD — chosen because fertilizer manufacturer Potash Corp. has long held the ticker POT, joked chairman Bruce Linton.

If it is granted the listing it will become the country’s first public medical marijuana company with an opening share price just below $1, he said.

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