31 December 2018 | News
HMMJ is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the North American Marijuana Index, net of expenses
MediPharm Labs Corp., a specialized, research-driven cannabis extraction business licensed under the Cannabis Act, is pleased to announce its addition to the Horizons Marijuana Life Sciences Index ETF (TSX:HMMJ) (“HMMJ” or “ETF”). The addition of MediPharm to the HMMJ Index is a significant milestone and another important step in the Company’s evolution as a leader in purified cannabis extraction.
HMMJ is an index (or passively managed) ETF, which seeks to replicate, to the extent possible, the performance of the North American Marijuana Index, net of expenses. This index is designed to provide exposure to the performance of a basket of North American publicly listed life sciences companies with significant business activities in the Marijuana industry.
The North American Marijuana Index selects from a current universe of companies that have operations that may include one or more of biopharmaceuticals, medical manufacturing, distribution, bio-products and other ancillary businesses related to the Marijuana industry.
Rebalancing of the North American Marijuana Index, and consequently HMMJ, occurs each calendar quarter. At that point, all stocks eligible for inclusion are weighted by their respective market capitalization. However, no single stock can exceed a 10% weight of the North American Marijuana Index at the rebalance date.