ICC International Cannabis Corp (ICC) has been included in the Horizons Medical Marijuana Life Sciences ETF (HMMJ) as part of the fund’s quarterly rebalance of its constituent holdings.
According to Horizons ETFs, “As at 5 September 2018, HMMJ had reached over CAD1 billion in assets under management, a rare achievement for the Canadian ETF marketplace.”
Eugene Beukman, Chief Executive Officer and a Director of International Cannabis, says: “We are elated to be included in the HMMJ; the largest cannabis focused ETF offering direct exposure for investors to North American life sciences companies. International Cannabis is at the epicentre of the global cannabis industry and is uniquely positioned to capture significant market share as the global THC and CBD industries continue to mature.”
“The Company will continue to optimise its upstream, downstream and distribution capabilities while integrating operational best practices into its medical plant production, extraction, active pharmaceutical ingredient isolation and finished dose manufacturing operations.”
HMMJ seeks to replicate, to the extent possible, the performance of the North American Marijuana Index, net of expenses. The Index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the marijuana industry.
Only stocks that meet minimum asset and liquidity thresholds are eligible for inclusion in the Index. Stocks are rebalanced quarterly on a market-capitalisation basis and capped so that no single stock can exceed 10 per cent of the weight of the Index when rebalanced.
