Rize ETF, a specialist European thematic ETF issuer, has rebalanced its Global Medical Cannabis ETF (FLWR), which is listed on the London Stock Exchange.
Rize ETF, a specialist European thematic ETF issuer, has rebalanced its Global Medical Cannabis ETF (FLWR), which is listed on the London Stock Exchange. Following the rebalance, Rize says that FLWR remains Europe’s most liquid and diversified Medical Cannabis ETF.
The four new companies to enter the ETF will have a combined weight of approximately 5 per cent.
• Ecofibre Ltd (Australian Stock Exchange: EOF) – Hemp & CBD: Ecofibre is an Australian market-leader in hemp technologies and provides innovative solutions that address emerging health and resource sustainability issues. The company’s principal activities are breeding, growing, processing and distributing hemp products. Its ‘Ananda’ retail brands are positioned for the health and wellbeing segment. Hemp is a versatile and US federally-legal product.
• Little Green Pharma Ltd (Australian Stock Exchange: LGP) – Biotechnology/Pharma: Little Green Pharma was the first Australian company to achieve production of a locally-grown medical cannabis product for patient use. Established in 2016 as a privately-owned company in Perth, Western Australia, we have been supplying Australian patients with naturally-grown medical cannabis products since August 2018. The company operates a vertically integrated medical cannabis business comprising cultivation, production, research and development, manufacturing and distribution of medical cannabis products.
• Perrigo (NYSE: PRGO) – Big Pharma: Perrigo, the world’s largest non-prescription drug company, through its recent partnership with Israel’s leading medical cannabis company, BOL Pharma, has created the world’s first government-sponsored medical cannabis incubator in Israel. The company is now investing millions of shekels in a plan that calls for six companies with breakthrough technology in the medical cannabis field to be admitted into the incubator annually. The incubator is an audacious move by Israel’s Ministry of Health and its Medical Cannabis Unit to give the country’s medical cannabis industry a big boost and global competitive advantage. Indeed, medical cannabis has a very long history in Israel. For example, tetrahydrocannabinol or THC, the psychoactive compound in cannabis, was first isolated in 1964 by Israeli scientists Raphael Mechoulam of the Hebrew University in Jerusalem’s Centre for Research on Pain, and Yechiel Gaoni of the Weizmann Institute.
• GrowGeneration Corp (Nasdaq: GRWG) – Agriculture Tech & Supplies: GrowGeneration is the largest hydroponics player in North America. The company is a leading marketer and distributor of nutrients, growing media, advanced indoor and greenhouse lighting, ventilation systems and accessories for hydroponic gardening. It owns a chain of 25 stores/service centres, including an online e-commerce store, and operates in 10 different states throughout the US and Canada. The company up-listed from the OTC market to the Nasdaq Stock Exchange in November 2019, which made it eligible for inclusion into the ETF.