Deputy Attorney General James Cole In 2013 Directed Federal Prosecutors Not To Go After Those That Complied With State Law.

While U.S. federal law prohibits marijuana, a memo issued by former U.S. Deputy Attorney General James Cole in 2013 directed federal prosecutors not to go after those that complied with state law. Canada has a national, regulated medical marijuana industry and plans to legalize pot for recreational use by mid-2018. About 25 companies listed on TMX exchanges cultivate, distribute and possess marijuana, while others provide services to the cannabis industry, Chadda said. He declined to say how many have U.S. exposure. One company that may run afoul of the TMX review is Aphria Inc, which has a market capitalization of C$1.1 billion ($879 million) and has invested in companies operating in Florida and Arizona. TMX’s smaller rival, the Marijuana Stocks Canadian Securities Exchange, has said it would welcome cannabis companies with U.S. interests and has already begun to recruit them.

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