Canadian CANNAINVESTOR Magazine May 2017 - Page 24

Horizons Medical Marijuana Life Sciences ETF

Currently, HMMJ will only invest in Canadian medical marijuana producers. In the United States, medical marijuana is also a large growth market, but technically, marijuana is still a Schedule 1 narcotic that is federally illegal, despite being legal at the state level in 29 states.

The likelihood of federal legalization of medical marijuana use in the United States seems much more favorable than the legalization of recreational usage. If medical marijuana usage were to become legal federally, then HMMJ would be able to include medical marijuana companies in the U.S. if they were also eligible for inclusion in the Index.