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Canadian hashish shares spike as U.S. reportedly set to reclassify marijuana

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Cover Development Corp. surged 49% after the announcement, whereas Aurora Hashish Inc. and Tilray Manufacturers Inc. soared 32% and 39%, respectively.

The Related Press, citing 5 sources aware of the matter, reported the DEA’s proposal would acknowledge the medical makes use of of hashish and acknowledge it has much less potential for abuse than different, extra harmful medicine.

Nevertheless, it could not legalize marijuana for leisure use.

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At the moment, marijuana is listed as a Schedule I drug within the U.S., alongside heroin and LSD, however could be reclassified as a Schedule III drug, alongside ketamine and a few anabolic steroids.

The reclassification of the drug within the U.S. might reduce dangers for hashish corporations that function south of the border and probably enhance investor urge for food for hashish shares.

Corporations on this story: (TSX:TLRY, TSX:ACB, TSX:WEED)

Extra about investing:

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About The Canadian Press


About The Canadian Press

The Canadian Press is Canada’s trusted information supply and chief in offering real-time tales. We give Canadians an genuine, unbiased supply, pushed by fact, accuracy and timeliness.

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