NEW YORK, Aug. 13, 2019 /PRNewswire/ -- Innovation
Shares, a provider of thematic ETFs, announced it has completed the
monthly rebalance of The Cannabis ETF (NYSE: THCX) and has added
four companies to the portfolio: Valens GroWorks Inc. (TSXV: VGW),
EnWave Corp. (TSXV: ENW), cbdMD Inc. (NYSE: YCBD) and Fire &
Flower Holdings (TSX: FAF). Concurrently, three companies were
removed from the portfolio: CannTrust Holdings (NYSE: CTST), Vivo
Cannabis (TSXV: VIVO) and Innovative Industrial Properties (NYSE:
IIPR).
"We are excited to expand THCX's footprint in the various
cannabis industry sub-themes by including three companies whose
businesses revolve around ancillary services and CBD-based consumer
products," said Matt Markiewicz,
Managing Director of Innovation Shares. "In particular, Valens,
EnWave, and cbdMD all operate at the crossroads of science and
technology which should appeal to investors who are looking for
differentiated exposure outside of a traditional seed-to-sale
story."
Listed on the NYSE Arca, THCX tracks the Innovation Labs
Cannabis Index, a rules-based portfolio which rebalances on a
monthly basis. The index consists of 36 stocks that are expected to
benefit from the rise in value of the global cannabis market which
is estimated to reach $630 billion by
20401. THCX's 70 bps management fee makes it the lowest
cost passively managed US-listed cannabis ETF2.
THCX is the first and only U.S.-listed cannabis ETF to hold
Valens GroWorks, EnWave Corp. and Fire & Flower
Holdings3.
For more information on The Cannabis ETF please visit
THCXetf.com
About Innovation Shares LLC
Innovation Shares builds cutting-edge portfolios around growing
and disruptive thematic investment trends. The true innovation
behind its strategy is the AI powered natural language processing
algorithm used to help identify sentiment around themes and
relevant stocks.
1 Seaport Global Securities report (February 21, 2019)
2 The ETFMG Alternative Harvest ETF has a 0.75%
management fee.
3 Based on August 13,
2019 company website data.
Investing involves risk, including possible loss of principal.
ETF shares are bought and sold at market price, not net asset value
(NAV), and are not individually redeemed from the Fund.
An investment in the Fund is subject to investment risks,
including the possible loss of some or the entire principal amount
invested. There can be no assurance that the Fund will be
successful in meeting its investment objective. While the shares of
the Fund are tradable on secondary markets, they may not trade in
all market conditions and may trade at significant discounts in
periods of market stress. ETFs trade like stocks, are subject to
investment risks, fluctuate in market value and may trade at prices
above or below the ETFs net asset value. Companies involved in
marijuana industry face intense competition, may have limited
access to the services of banks, may have substantial burdens on
company resources due to litigation, complaints or enforcement
actions, and are heavily dependent on receiving necessary permits
and authorizations to engage in medical marijuana research or to
otherwise cultivate, possess, or distribute marijuana. Since the
use of marijuana is illegal under United
States federal law, federally regulated banking institutions
may be unwilling to make financial services available to growers
and sellers of marijuana. More information about these risks
can be found in the Fund's prospectus.
An investor should consider the investment objectives,
risks, and charges and expenses of the Fund before investing. The
prospectus contains this and other information about the Fund. A
copy of the prospectus is available at thcxetf.com or by calling
Shareholder Services at 800-773-3863. The prospectus should be read
carefully before investing. Current and future holdings are subject
to change and risk.
The Cannabis ETF is distributed by Capital Investment Group,
Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200,
Raleigh, North Carolina 27609.
There is no affiliation between OBP Capital, LLC, Merlin Asset
Management, LLC, Innovation Shares LLC, including their principals,
and Capital Investment Group, Inc.
RCCAN0819004
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SOURCE Innovation Shares LLC