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MedMen’s $1.65 Billion Listing Shows Cannabis Is Moving North

  • Canadian Securities Exchange a new home for U.S. pot companies
  • Expert says firms to ‘hibernate’ there until U.S. rules shift
California Pot Users Turn Out In Droves To Ring In Legal Sales
Photographer: Patrick T. Fallon/Bloomberg

Cannabis company MedMen Enterprises’s deal to go public in Canada with a $1.65 billion valuation is the latest signal the U.S.’s northern neighbor is poised to capture more marijuana investment.

The reverse takeover -- in which a private company goes public via the acquisition of a listed one -- is among the largest deals for marijuana in Canada. With the plant’s legal status still questionable in the U.S., the transaction illustrates the corporate-cannabis industry’s migration north to raise cash from investors eager to latch on to a fast-growing market.