Cannabis and crowdfunding are coming together with the launch of an equity crowdfunding platform for marijuana businesses.
Recent regulatory developments in the marijuana industry and new prospectus exemptions in the securities industry make it possible for Canadians to go online and purchase securities of cannabis companies. Ascenta Finance is launching the first portal, called Bay Street Cannabis. Ascenta is an exempt market dealer registered in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba and Ontario.
The portal provides legal cannabis and cannabis-related businesses with access to capital, and provides Canadians with investment opportunities. All issuers listed on the portal will be subject to careful scrutiny and due diligence and all securities offerings made through the portal will be made in compliance with applicable securities laws.