The company, based in Commerce, near Los Angeles, plans to sell shares on the Canadian Securities Exchange via a reverse takeover, chief executive officer Sturges Karban said in a phone interview. MJIC has hired Haywood Securities Inc. to identify a Canadian shell company to enable the deal. At present, a licensed grower can’t legally transport his crop to his own licensed extraction facility across the street without hiring a licensed distributor, according to Karban. The company is acquiring dozens of licenses, trucks and warehouses across the state to build a legal corridor for cannabis stretching from San Diego to Oakland. MJIC is part of a rush by U.S. pot companies to tap the public markets in Canada, where marijuana is legal.

Source: thestar January 08, 2019 22:52 UTC