First cannabis stock idle two weeks after JSE listing
Published:Friday | April 24, 2020 | 12:10 AM
The Tree of Knowledge International Corporation, TOKI, cross-listed on the US Dollar Market of the Jamaica Stock Exchange, JSE, earlier this month, becoming the first cannabis stock to list on the local market.
However, the stock has not traded in Jamaica since its listing on April 9. It’s valued at US$2.2 million or US$0.01 per share on the JSE. TOKI is listed in its home market in Canada on the Canadian Securities Exchange, CSE, where it was trading Thursday at CAD$0.02, putting its market value at CAD$4.4 million (US$3.13 million).
The cross-listing falls under Tree of Knowledge’s build-out programme for its health and wellness arm in Jamaica, which the company said in January it sees as a bridge to take its products into the region.
Last October, Tree of Knowledge announced the expansion of its global medical marijuana and CBD research in partnership with the Caribbean Institute of Pharmacy Policy, CIPPAR. The partners aim to develop an international medical tourism facility in Jamaica to carry out clinical trials and provide pain management services, TOKI said in a release.
CIPPAR is headed by Jamaican Dr Ellen Campbell-Grizzle.