Maybe someone can explain....Aphria has investments in the USA and Canopy does not.
Bruce Linton wants TMX to make a policy decision on how marijuana companies listed in Canada with interests in the USA, where cannabis remains federally illegal, are treated.
Linton stated that his only interest in the issue is that it affects his company (Canopy) ability to raise funds from the US even though it doesn’t have US investments. “They won’t invest in Canada in cannabis until the rules are clear and applied” he said.
Linton is blaming Canadian companies doing business in US for his inability to attract US investment.
However, Brian Kennedy, president of Tilray, a Canadian licensed medical cannabis producer, takes a different approach. Tilray, is a wholly owned subsidiary of Privateer Holdings, a private equity firm headquartered in Seattle Washington. Kennedy on BNN earlier this week stated that Tilray has been able to raise $140 million US from many investors around the world with many located in the US.
Also to be fair to Tilray, they decided not to do business in the US (same position that Canopy has taken) because they view it as being too risky for their shareholders. However, Kennedy has never used the illegality of cannabis at the federal level in the US as an excuse for not being able to raise money from US investors. In fact, he is on record as saying that much of their capital was raised from US investors.
“Why is it that Tilray is able to raise money from investors in the US and Canopy can't?