CannaRoyalty shares began trading publicly in Canada Thursday, giving investors the opportunity to buy stock in American marijuana companies for the first time, something they are forbidden to do south of the border.
The new Ottawa-based company, which holds a portfolio of 18 marijuana companies — 15 of which are in the U.S. — will sell its stock beginning Thursday on the Canadian Securities Exchange using the symbol CRZ. CannaRoyalty had a pre-listing valuation of $150 million, but declined to say what its opening price would be, saying the last private trades were in the range of $4.25 to $4.50 a share.
CEO Marc Lustig said he chose the CSE after pushback from the Toronto Stock Exchange because the company was not a pure medical play.
