Nova Cannabis Added to the NYSE-Listed Cannabis ETF "THCX"
EDMONTON, AB, May 25, 2021 /CNW/ - Nova Cannabis Inc. (the "Company" or "Nova") (TSXV: NOVC), is pleased to announce today that it has been added to the Cannabis ETF (NYSE: THCX) ("THCX"), an exchange traded fund listed on the NYSE Arca.
"As a newly listed company, Nova's inclusion in the THCX is a strong validation of our business strategy and unique, focused position within the retail cannabis landscape," said Darren Karasiuk, CEO of Nova. "We are excited that through the THCX ETF, more US and international investors will gain exposure to our strategy, which is purpose-built to disrupt cannabis retail in Canada by delivering an unparalleled value proposition to the high-volume, value-conscious consumers that makes up the majority of the cannabis marketplace."
The THCX tracks the Innovation Labs Cannabis Index, a portfolio of 33 stocks that are expected to benefit from the growth of the legal global marijuana, cannabidiol ("CBD") and hemp industries. Nova's inclusion in the index is part of THCX's further expansion into various cannabis sub-themes, including Nova Cannabis' unique value-focused retail position. At the core of Nova's strategy is the recognition that inside the four walls of a retail store is the only place where brands will be built and the unparalleled value and prominence that brings to the retail sector of the cannabis market.
About The Cannabis ETF
The THCX is a U.S.-listed ETF that provides investors with a liquid and diversified vehicle to gain access to the explosive growth of the legal cannabis market. The THCX tracks the Innovation Labs Cannabis Index, a modified-market capitalization-weighted index that is rebalanced on a monthly basis.
ABOUT NOVA CANNABIS INC.
Nova is one of Canada's largest and fastest growing cannabis retailers with a goal to disrupt the cannabis retail market by offering a wide range of high-quality cannabis products at every-day best value prices. The Company currently operates more than 55 locations across Alberta, Ontario, and Saskatchewan primarily under its Value Buds and Nova Cannabis banners. The Company is majority owned by Alcanna Inc. (TSX: CLIQ).
Nova's common shares trade on the TSX Venture Exchange under the symbol "NOVC".
Additional information about Nova Cannabis Inc. is available at www.sedar.com and the Company's website at www.novacannabis.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Nova Cannabis Inc.
Darren Karasiuk, CEO, Nova Cannabis Inc., (780) 497-3262, [email protected]
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