Medical cannabis company WeedMD Inc. WMDWDDMF(FSE:4WE) confirmed Tuesday it has been added to the Horizons Marijuana Life Sciences Index ETF HMMJ HMLSF.
The Canadian exchange-traded fund opted for the move after completing its quarterly rebalancing last week. WeedMD had been added to the North American Marijuana Index, which is the benchmark for the HMMJ, in December.
The Index offers direct exposure to North American-listed stocks operating within the legal cannabis industry.
About WeedMD
WeedMD recently secured $17.25 million in financing through a bought deal short-form prospectus offering of approximately 36 million of its units at 48 cents per unit.
The funds are to be utilized to boost the company's growth through sales and marketing initiatives, and the advancement of its operational capacities, as well as other product development initiatives.
To further improve its performance, the company opted to strengthen its leadership team.
On the heels of appointing its Chief Legal Officer Jason Alexander to the board of directors In January, WeedMD named Executive Chairman George Scorsis as interim CEO after Angelo Tsebelis’ departure.
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