Exchange listingsIn determining whether to list issuers with U.S. marijuana-related activities, each exchange applies its own listing requirements. These requirements are outlined in an exchanges rules, which include rules related to an issuers compliance with applicable laws. Different exchanges may make their own judgements in the application of their listing requirements and an independent assessment of compliance and risk-analysis. As a result, some exchanges may decide to list issuers with U.S. marijuana-related activities, while others may decide to reject listing applications from these companies. Aphria has already gone through the approval process with the TSX and has received their blessing. The statement issued by the TSX leaves enough wiggle room for Aphria to remain listed on the TSX while allowing the TSX the discretion to refuse future applicants. Expect to see a flood of new companies doing business in the U.S. to list on the CSE, exactly what LHS did.