In this Wednesday, July 11, 2018, photo, Ben Kovler, CEO, Green Thumb Industries poses for a portrait at the company's office in Chicago. Green Thumb Industries had a business plan, expertise and plenty of ambition, but didn’t have access to enough capital to grow its marijuana business. Last month, the company with $20 million in revenue from pot shops in seven states turned its gaze north and went public in Canada, where marijuana soon will be broadly legalized nationwide. (AP Photo/Charles Rex Arbogast)

For US pot companies, Canada is the land of opportunity

July 25, 2018 - 12:31 am

PORTLAND, Ore. (AP) — U.S.-based marijuana businesses are lining up to list on the Canadian Securities Exchange to tap into financing from institutional investors put off by the U.S. ban on pot.

Bastions of America's marijuana industry like MedMen, Green Thumb Industries, Acreage Holdings and Canna-Hub -- as well as dozens of smaller companies -- have recently gone public in Canada or are planning to do so to get access to foreign markets and the money they need to grow.

Arcview, an Oakland-based cannabis investment and market research firm, says the U.S. market was worth $8.5 billion in 2017 and will grow to $24 billion by 2022.

But U.S. companies aren't able to fully to take advantage of the boom because it's almost impossible to list on American stock exchanges.