Marijuana Firm Says TMX Trade Shift Would Undermine System
- CannaRoyalty, iAnthus weigh settlement options in the U.S.
- Shares tumble as TMX Group considers new clearing policy
This article is for subscribers only.
Any move by the Toronto Stock Exchange owner to stop settling trades for marijuana companies with U.S. operations would undermine the market’s regulatory system, according to one Canadian pot company.
CannaRoyalty Corp. already went through a “very formal” review with the Ontario Securities Commission in which its operations and assets were scrutinized before being allowed to list on an exchange, said Chief Executive Officer Marc Lustig. Lawyers for the Ottawa-based company, which has the bulk of its assets in the U.S., are reviewing whether any decision to stop clearing trades would be enforceable, he said.