- Cannabis company, Tree of Knowledge (CSE:TOKI) is the first international company with a cross-listing on the Jamaica Stock Exchange (JSE)
- In January 2019, Bloomberg named the JSE as the best performing stock exchange in the world
- TOK and its Jamaican partner, Timeless Herbal Care, have received Health Canada’s approval to import specific cannabis strains into Canada
- The companies will form a joint venture to develop cannabis products for the Canadian and European markets
- TOK’s share price is down 33.33 per cent on the CSE, and is currently trading for 2 cents per share
Cannabis company, Tree of Knowledge (CSE:TOKI) is the first international company to be cross-listed on the Jamaica Stock Exchange (JSE).
TOK also trades on the Canadian Securities Exchange (CSE), which has been working to build opportunities for both exchanges. The Senior Vice-President of Market Development at the Canadian Securities Exchange, Rob Cook, had this to say:
“The CSE has been sharing knowledge and ideas with the Jamaican Stock Exchange, with a view to providing new opportunities for companies on both exchanges in the capital markets of Jamaica and Canada.
The cross-listing of growing companies like TOKI on the JSE is one of the opportunities that we contemplated. The CSE congratulates TOKI on taking this step,” he said.
In January 2019, Bloomberg crowned the JSE as the best performing stock exchange in the world. In spite of its relative obscurity on the global economic stage, Jamaica’s stock market has been booming. Managing Director of the Jamaican Stock Exchange, Marlene Forrest, commented on the historic listing.
“The listing of Tree of Knowledge International has come into being due to the hard work we have done in Canada. In spite of the challenging times, we are seeing some very positive results. I am encouraging Jamaicans to continue looking to the markets for wealth creation, as exciting times are ahead,” she said.
Jamaica’s Minister of Industry and Trade, Audley Shaw, also welcomed the listing.
“TOKI now provides the bridge between Jamaica and the world for health and wellness. It is also providing members of the Diaspora with the opportunity to invest in Jamaica through this public listing,” Audley said.
Tree of Knowledge, and its local Jamaican partner, Timeless Herbal Care, are already strengthening that bridge with a joint venture. The companies have received approval from Health Canada, to import specific strains of cannabis from Jamaica into Canada. TOK and Timeless will use those imported strains to formulate pain relief products for the Canadian and international markets.
Through the joint venture, the companies will develop those products in an EU GMP-certified, Health Canada-licensed facility. This will allow TOK and Timeless to access the much sought-after European market, as well as Canada’s. Dr Kevin Rod, a Medical Advisor to TOK’s board of directors, explained the benefits of the import approval.
“Jamaica has many unique medicinal plants, with special characteristics that are relevant to our current global health challenges. In collaboration with local universities, experts, and partners, our aim is to bring those unique plant strains to the forefront of research and medicine,” he said.
TOK is down 33.33 per cent on the CSE, and trading for 2 cents per share, as of 10:11am EST.