Toronto-based Horizons ETFs Management (Canada) Inc. has filed a final prospectus to launch Horizons Emerging Marijuana Growers Index ETF.
Units of the ETF have been conditionally approved for listing and are scheduled to begin trading on the Aequitas NEO Exchange on Feb. 14.
The ETF aims to replicate the performance of the Emerging Marijuana Growers Index, net of expenses. The index is designed to provide exposure to the performance of a basket of primarily North American publicly listed, small-capitalization companies, primarily focused on the cultivation, production and distribution of marijuana.
Stocks within the index generally must have a market capitalization greater than $50 million but less than $500 million for initial inclusion.
“The Horizons Marijuana Life Sciences Index ETF, which is also offered by our firm, has been one of the fastest-growing ETFs in Canada since its launch in April of last year, says Steve Hawkins, president and co-CEO of Horizons ETFs, in a statement.
“With Horizons Marijuana Life Sciences Index ETF offering investors broad diversified exposure to the marijuana sector and Horizons Emerging Marijuana Growers Index ETF focusing on the smaller but emerging producers, investors should be able to access the full potential of the rabidly growing global marijuana equities sector,” he adds.
The ETF is expected to close the initial offering of units to its designated broker after the close of business on Feb. 13.