Business
Canadian Securities Exchange Highlights Five Key Takeaways From Its 2020 "Cannabis Month" Podcast and Video Series
Toronto, Ontario--(Newsfile Corp. - June 9, 2020) - The Canadian Securities Exchange ("CSE" or...
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[{"type":"text","content":"Canadian Securities Exchange Highlights Five Key Takeaways From Its 2020 \"Cannabis Month\" Podcast and Video SeriesToronto, Ontario--(Newsfile Corp. - June 9, 2020) - The Canadian Securities Exchange (\"CSE\" or \"the Exchange\") is pleased to announce that it recently completed Cannabis Month, an informative series of podcast interviews with senior executives and other thought leaders across the cannabis sector. The interviews and related content were provided through the CSE's website, YouTube (CSE TV) and Instagram (@CanadianExchange) feeds.The podcast guests included cannabis industry pioneers and entrepreneurs including Bruce Linton (founder of Canopy Growth Corp.), Joseph Lusardi (Curaleaf Holdings Inc.), Charles Bachtell (Cresco Labs Inc.), Jason Ackerman (TerrAscend Corp.), and Jennifer Drake (AYR Strategies Inc.). The interviews provided a comprehensive portrait of the industry, which has achieved remarkable capital markets success while managing growth through significant ongoing challenges.Cannabis Month concluded with a podcast recapping five key takeaways from the interview series, all of which underline the growth and evolution of the cannabis industry: Equity valuations of multi-state operators (\"MSOs\") in the U.S. cannabis sector are rapidly decoupling from their Canadian counterparts. Numerous U.S. MSOs have been generating strong earnings growth during 2020 and have been duly rewarded by investors. Podcast guests speculated that the days when U.S. MSO valuations were impacted by unrelated events in Canada are largely over.When asked to choose whether the first change they would like to see is federal legalization of cannabis or the relaxing of banking restrictions, the overwhelming number of executives chose banking. This reflects the fact that state laws provide sufficient operating leeway for cannabis companies, meaning that federal legalization is less urgent. Meanwhile the banking industry has all the elements in place to support the industry when they are able to do so. Culture is a major success factor in helping cannabis companies deal with the threat from COVID-19. A number of MSOs indicated that their can-do corporate cultures of adaptability and creativity have helped them continue to serve customers and maintain growth during difficult times.Executive experience matters in dealing with the twin ch...