California, Colorado and seven other states have legalized leisure time and there are about 30 states that have passed medical cannabis in any form.
On Tuesday, several states could be added to these lists, as two states consider approving leisure marijuana and two other voices about medical use of the substance. While the voices should have little effect on Canadian marijuana companies, as most are excluded from having US operations due to some guidelines for listing, Michigan has special intrigues for cannabis investors.
Here are the most important races to see
Michigan: With nearly 10 million people, the Great Lakes state is the largest to vote on the legalization of recreational pots in this election cycle. Cold proposal 1
Although Aurora Cannabis Inc.
ACB, + 3.91%
had to divest its holdings by American companies earlier this year after the Toronto Stock Exchange threatened to iron the company, held Aurora an option to buy back shares in at least one former subsidiary, Australis Capital. Now listed on the Canadian Securities Exchange – a listing site with fewer disclosure requirements – Australis, through one of its subsidiaries, looks at the medical cannabis market in Michigan. Should Michigan vote to legalize adult use, Australis may be able to capitalize on the change through the work it has already done on the medical side.
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