InMed Pharmaceuticals to Commence Trading on TSX, Stock Moves Higher

InMed Pharmaceuticals

The markets are open, and InMed Pharmaceuticals (CNSX:IN) (OTCMKTS:IMLFF) has an obvious edge up on its competitors.

The Canadian Cannabis Market: March 23, 2018.

Currently, InMed Pharmaceuticals is trading up more than 20% on the Canadian Securities Exchange. Specifically, as of this writing, InMed Pharma is trading at $1.42. This puts the IN stock up $0.25, or 21.37%. The company is also doing relatively well on the OTC market, trading up roughly 18%. So what caused the more than 20% jump this early on in the trading day? Well, that can be traced back to the announcement the company made earlier today.

InMed Pharmaceuticals Has Big News

Based in Vancouver, British Columbia, InMed Pharmaceuticals is a pre-clinical stage biopharma company. It is known primarily for its involvement in the development and research of therapies that are entirely cannabinoid-based. Right now, InMed focuses specifically on treating various diseases such as metabolic diseases, CNS, and pain and inflammation.

On Friday, the biopharma/cannabis company announced that it has been given the green light for listings its common shares on the TSX (Toronto Stock Exchange). Investors likely recognize the significance of this announcement, hence the cannabis stocks jump. After all, the Toronto Stock Exchange is the premier exchange in Canada. Even CEO Eric Adams reiterated just how important this announcement is, stating that listing its common shares “on the Toronto Stock Exchange is a significant milestone for InMed.”

It’s hard to say whether the cannabis stock will continue to climb for the rest of the day, but I’m fairly optimistic that it will stay in the green zone. InMed Pharmaceuticals has had a relatively successful month so far. For instance, the company announced a peer-reviewed publication on March 6 and appointed a new vice president on March 13. It was also one of the biggest marijuana stock gainers on Monday, March 19.

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When Will InMed Pharma Start Trading on the Toronto Stock Exchange?

InMed Pharmaceuticals will commence trading on the Toronto Stock Exchange on Monday, March 26, 2018. Keep in mind the Common Shares will continue to trade on the TSX under the stock ticker ‘IN”. Additionally, shareholders should note that they are not required to exchange their stock certificates, nor are they required to take further action in connection with the Toronto listing.

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