Undisclosed company wins POT stock ticker lottery, says TMX Group

Roughly 40 eligible ballots were submitted to participating exchanges to use ticker name

The POT stock ticker has been allocated by random lottery to a publicly listed company, but Canada’s largest stock exchange operator is not naming the company or the industry of the winner of the coveted symbol.

Roughly 40 eligible ballots were submitted to participating exchanges — the Toronto Stock Exchange, the TSX Venture Exchange, the Canadian Securities Exchange and the Aequitas NEO Exchange — and a currently listed company was selected, the TMX Group said.

However, it would not disclose the name of the company or the industry of the firm which now can use the cannabis-themed ticker.

“The company will be notified by their exchange, it is up to the company to make an announcement,” said Catherine Kee, a spokeswoman for TMX, which operates the Toronto Stock Exchange and the TSX Venture Exchange.

The POT symbol became available after fertilizer Potash Corp. officially merged with Agrium Inc. in early 2018 to become Nutrien Ltd., which now trades under NTR.

The ticker is set to become available for reservation and usage as of Friday, and “significant demand” for the catchy stock symbol prompted the exchanges to allocate the POT ticker via random lottery.

Interested parties had until Jan. 29 to throw their name into the hat. Currently listed firms and companies looking to list were able to enter the lottery, but ETF providers were not eligible, according to a joint notice posted by the exchanges.

READ MORE: Canadian stock exchanges to conduct lottery for ‘POT’ ticker amid high demand

“This was a collaborative process, and as stated in the joint communication issued by Canadian exchanges, ‘exchange traded funds and issuers that do not have an active operating business were not eligible to participate’,” Kee said in an email.

Although the ticker can be used as early as Friday, the winning issuer will have up to 90 days following the lottery to change its symbol to POT.

Extensions beyond 90 days will not be provided, the exchanges said in the joint notice, and if it is not used by then another lottery will be conducted.

The ticker would likely be attractive to a player in the cannabis industry, but the exchanges did not say whether pot companies were among those who expressed interest.

Canopy Growth Corp.’s co-chief executive Bruce Linton said it was eyeing the ticker, not for the licensed producer itself, but one of the various companies it has invested in.

For example, its venture capital arm Canopy Rivers has several invested companies planning to go public, he said.

Canopy had originally wanted the POT ticker for itself, but it was still held by Potash at the time, he said. The Smiths Falls, Ont.-based cannabis producer started trading as CGC but changed the symbol to WEED on the TSX in 2017.

The eye-catching ticker has been useful, Linton said.

“It helped at the right time and the right place, when your ticker was a salacious topic, because it’s ‘weed.’… It’s served its purpose.”

Armina Ligaya, The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Cranbrook Mountie gets peacekeeping award in Kelowna

On October 11, 2019, several awards were given out in Kelowna by… Continue reading

Old willow collapses in Spooner Park

A willow tree that has long stood in Rick Spooner Memorial Park… Continue reading

Kootenay-Columbia candidate cautious after getting threats

Trev Miller of the Animal Protection Party carries on campaigning under shadow of threats, abusive emails

Buck Stops Here: Why the name of Cranbrook’s new team is a good one

It’s not just because my nickname in high school was ‘Buck’ that… Continue reading

Feud with Canada Post causes post office to close its doors

Grasmere Post Office will close Oct. 31, building owners unable to reach agreement with Canada Post

ELECTION 2019: Have Justin Trudeau’s Liberals really cut middle-class taxes?

Conservative Andrew Scheer vows to cut bottom bracket, NDP’s Jagmeet Singh targets wealth tax

British family deported after ‘accidental’ U.S. border crossing

U.S. officials deny it was mistake, release video of vehicle crossing into Washington from Langley

LETTERS: Wolf kills, wilderness protection and caribou recovery

Readers respond to Tom Fletcher’s column on B.C. program

Kamloops man hangs on to back of stolen truck as suspect speeds away, crashes

The pickup truck was seen leaving the roadway before bursting into flames

Everything you need to know before getting the flu shot

Island pharmacist shares concerns, recommendations before flu season hits

‘Sky didn’t fall:’ Police, lawyers still adjusting after pot legalization

Statistics Canada says 541 people were charged under the federal Cannabis Act between Oct. 17, 2018 and the end of the year

Fewer people prescribed opioids in B.C., but other provinces lack data: doctors

Patients who began taking opioids were prescribed smaller doses for shorter duration

Electric cello, stolen from vehicle in Williams Lake, returned to U.S. owner

Rita Rice of Texas said she and her husband had given up hope of ever seeing it again

Drop, cover and hold on: Thousands of British Columbians to take part in earthquake drill

This year’s drill comes as scientists announce discovery of ‘stormquakes,’ an earthquake and hurricane

Most Read