Topic: How To Invest

Q: Pat, would you look at U.S. cannabis-seller Acreage Holdings, which just listed in Canada? Thanks.

Article Excerpt

A: Acreage Holdings, $22.70 U.S., symbol ACRG.U on the Canadian Securities Exchange (Shares outstanding: 21.4 million; Market cap: $485.8 million, www.acreageholdings.com), is a U.S.-based owner of cannabis licenses and assets in 13 states, including California, Illinois, Florida and New York. It now operates more than 40 dispensaries, both for medical and recreational users, which are legal in those states. The Canadian Securities Exchange (CSE), formerly the Canadian National Stock Exchange (CNSX), is one of our country’s alternative stock exchanges. The CSE lets U.S. cannabis companies with U.S. operations list and trade on its exchange. However, the TSX (Canada’s largest stock exchange) doesn’t accept U.S. cannabis firms for trading, because of U.S. federal law against cannabis production and use. You can trade Canadian Securities Exchange stocks through your broker. You can also get stock quotes at www.thecse.com. On July 23, 2018, Acreage announced that it had raised $119 million U.S. in funding to prepare for a planned initial public offering (IPO) this fall on the…