(Jamaica Observer) Tree of Knowledge Internation-al Corp, which trades under the name TOKI, will become the first company to be cross-listed between the Canadian Securities Exchange (CSE) and the Jamaica Stock Exchange (JSE).
TOKI, which already trades on the CSE, will shortly be added to the JSE trading platform having passed all the regulatory hurdles for listing.
In a historic feat, TOKI will not just become the first company to be cross listed on the Jamaica and Canada stock exchanges but will also become the first medical cannabis company to be listed on the JSE.
The cross-listing is a major step by Tree of Knowledge to play a leading role internationally in the estimated US$4.2 trillion health and wellness industry, as reported in 2017 by the Global Well-ness Institute.
The trading start date along with the JSE trading symbol will be announced soon.
Tree of Knowledge International Corp, formerly Courtland Capital Inc, is a Canada-based company that produces and sells hemp-based cannabidiol (CBD) products in certain jurisdictions in the United States, Europe, South America, and China.
CBD is a natural constituent of hemp oil, which is purported to contain a number of wellness properties. All CBD used in the company’s products is organically grown and handled using United States Department of Agri-culture-approved industrial hemp, grown in the United States.
TOKI’s CEO Michael Caridi points out that the company has already established significant partnerships in Jamaica.
He states, ”This cross-listing provides Jamaicans and the Jamaican diaspora with the opportunity to invest in the first international publicly listed company on the Jamaican stock exchange.”
According to the TOKI CEO, “Our vision for Jamaica is to be the bridge between Jamaica’s health and wellness industry and the rest of the world using Jamaica as our strategic location to develop the Caribbean and Latin American markets where Tree of Knowledge products will gain access to the region.”
Senior vice-president of market development of the Canadian Securities Exchange, Rob Cook says, “The CSE is very pleased to see Tree of Knowledge International Corp access the Jamaican market with a listing on the JSE. This is one of the outcomes that we envisaged when we entered into a memorandum of understanding with the JSE in 2019.”
He said both exchanges endeavour to give their listed companies the full benefit of public company experience in a liquid and well-regulated market. For his part, Industry, Commerce, Agriculture, and Fisheries Minister, Audley Shaw, who has been a strong campaigner for the development of the medical cannabis industry in Jamaica regarding access to financing, is excited at the investment opportunity that this cross-listing will provide to investors.
“This cross-listing paves the way for the Jamaican diaspora to reap the benefits of our rapidly developing health and wellness industry by investing in a publicly traded company on the Jamaican exchange — recognised by Bloomberg as the best performing stock exchange in the world,” Minister Shaw emphasised.
He points out that the cross-listing opens numerous opportunities for both Tree of Knowledge and Jamaica.
With its head office in Toronto and operations in North York, Ontario, and Spokane, Washington, TOKI currently has three primary business segments:
(1) Multidisciplinary specialty pain clinics with a focus on the treatment of chronic pain, including controlled applications of medical cannabis in Canada;
(2) Development of formulated products for therapeutic purposes and natural health product alternatives at its manufacturing facility in Spokane, Washington, which provides formulations for the company’s products and for third parties equivalent to good manufacturing practices (GMP) standards; and
(3) Distribution and sale of hemp-based CBD products in the United States, Canada, Europe, Brazil and Australia.
Through its Toronto Poly Clinic, the company has gleaned extensive expertise from being involved in one of the largest observational clinical trials on medical cannabis and from its ongoing direct patient experience.
The company has developed and implemented a medical cannabis education, research, and best practice platform and medical cannabis opioid-reduction programme with great success.
Currently, the company has research agreements with multiple universities for medical cannabis research and new medical grade product development.
TOKI’s CBD product line contains EVR Premium Hemp Oil, which is an organically grown and handled, gluten-free, vegan, non-GMO, synergistic compound that is derived from US Department of Agriculture-approved industrial hemp grown in the United States.
