Firms are trying to bolster their institutional investor base
A favorite of DIY stock pickers, Canadian cannabis firms are trying to bolster their institutional investor base by ramping up efforts to woo European funds as countries across the region approve marijuana for medical use.
For some time companies including Canopy Growth, Aurora Cannabis, and Tilray Inc have been signing export deals with European governments, buying local companies, even opening production facilities in the region.
This year, they have also stepped up pitching their businesses to European funds at conferences and road shows, betting their size and first-mover advantage will help replace fickle retail investors with more stable institutions.
Canada was one of the first countries to approve medical marijuana in 2001, and legal recreational sales will begin in October.
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