While major licensed producers have sought to list on international exchanges like NASDAQ or the NYSE, a sizable portion of the Canadian cannabis industry currently lists on the TSX or TSX Venture Exchange.
Today, the TSX Venture Exchange announced the winners of the 2019 TSX Venture 50, which showcases the top companies across the exchange in five different sectors.
Cannabis companies dominated the Clean Technology & Life Sciences category, with Aleafia Health Inc. (TSX-V: ALEF), Organigram Holdings (TSX-V: OGI), and EnWave Corporation (TSX-V: ENW; FSE: E4U) all making the list.
All three companies have made headlines recently, with Aleafia publishing a peer-reviewed study last month showing that medical cannabis can aid in significantly decreasing the usage and dependence on benzodiazepines. The company is also moving forward with the acquisition of Emblem Corp. (TSXV: EMC) in an all-share deal valued at $173 million.
After pushing into the German market last year, Organigram subsequently signed a supply agreement to provide cannabis to the British Columbia Liquor Distribution Branch.
EnWave meanwhile just struck a deal with Tilray, Inc. (NASDAQ: TLRY) to license organic dehydration technology to cannabis companies. The partnership kicked off with the sale of a Radiant Energy Vaccum machine to The Green Organic Dutchman.
In addition to being named the top tech & life sciences stock, Aleafia took the top-ranked spot across all five sectors. The lineup of TSX-V 50 top winners across all five sectors was as follows:
Clean Technology & Life Sciences – Aleafia Health Inc. (TSX-V: ALEF)
Diversified Industries – theScore, Inc. (TSX-V: SCR)
Energy – Alvopetro Energy Ltd. (TSX-V: ALV)
Mining – Westhaven Ventures Inc. (TSX-V: WHN)
Technology – Kraken Robotics Inc. (P TSX-V: NG)
The winners were chosen based on trading volume, share price appreciation, and market growth. The TSX-V will additionally hold a market open ceremony tomorrow to celebrate the 50 chosen companies and top 5 sector winners.
Aleafia’s Chief Executive Officer Geoff Benic had this to say after the announcement was made this morning: