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Greenlane Will Turn Down Pot Business to Protect Nasdaq Listing

May 14, 2019, 3:11 PM

Greenlane Holdings Inc. is turning down business opportunities to keep its listing on the Nasdaq, a coveted position for a U.S.-based cannabis firm that’s attracting investors who have otherwise avoided the industry.

While large Canadian pot companies such as Canopy Growth Corp. and Cronos Group Inc. trade in the U.S., the exchanges have prohibited listings from their American counterparts. Boca Raton, Fla.-based Greenlane avoided this stigma as it only sells devices for consumption of cannabis, nicotine and hemp-derived CBD. It’s extremely careful about the companies it works with to ensure it doesn’t jeopardize its listing, said Chief Financial Officer Ethan ...

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