This morning, Marapharm Ventures Inc. (CSE:MDM) (OTC:MRPHF) announced that it would be included in the new Horizons Emerging Growers Index ETF (NEO:HMJR). The new ETF only recently began trading last week on February 14th, 2018.
Unlike some of the other ETF's managed by Horizons, HMJR was created to provide investors exposure to small cap. companies in Canada and the United States that are involved with cultivation, production and/or distribution of marijuana.
The fund tracks the Emerging Marijuana Growers Index, which includes stocks that have market capitalizations between $50 million CAD and $500 million CAD. With a management fee of 0.85%, the new cannabis ETF from Horizons is just slightly more expensive to own than the Horizons Marijuana Life Sciences ETF (TSX:HMMJ) (OTC:HMLSF).
"We are very pleased to be included in this new ETF and have expectations that the share price and liquidity of companies like ours will be enhanced proportionately by the buying power of an ETF. This ETF was specifically constructed to incorporate companies with operations in certain U.S. states, where cannabis use has been legalized under state law. These were largely overlooked by most prior ETF offerings," said Linda Sampson, CEO of Marapharm.
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