Canadian cannabis companies with operations in the U.S. are breathing a sigh of relief, after Canadian securities regulators decided on Thursday not to take dramatic action against companies with risky assets south of the border.
The cannabis industry has been in limbo since Jan. 12 when the Canadian Securities Administrators released a note saying they were reviewing their policy about cannabis companies listed on Canadian exchanges that had exposure to the U.S. This came a week after U.S. Attorney General Jeff Sessions repealed the Barack Obama-era Cole Memorandum, that had limited federal enforcement of U.S. cannabis laws.
The uncertainty left companies with U.S. operations fearing that they could be delisted from Canadian exchanges.
On Thursday the CSA released new guidance on the issue, which expanded the amount of disclosure U.S.-exposed cannabis companies need to give, but left everything else largely unchanged.
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