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

New Eco-Depot site proposed for Ashcroft, Cache Creek

TNRD staff directed to pursue the ourchase of property at the former chip relaod site off Highway 1

U.S. couple ‘devastated’ truck and boat stolen in Williams Lake overnight

Family from Oregon appealing for assistance to help find stolen items

Two bodies found near Spences Bridge confirmed as those of missing Surrey men

Ryan Provencher and Richard Scurr have been missing since July 17

Many hands make light work at historic Cornwall fire lookout

Volunteers worked to restore the site, which a Journal reader remembers from a 1955 visit

Phase 2 work set to get started at 10 Mile Slide site

Work is projected to be complete by spring 2021 and will be monitored for two more years

VIDEO: Title of 25th Bond movie is ‘No Time to Die’

The film is set to be released in April 2020

New study suggests autism overdiagnosed: Canadian expert

Laurent Mottron: ‘Autistic people we test now are less and less different than typical people’

B.C. father tells judge he did not kill his young daughters

Andrew Berry pleaded not guilty to the December 2017 deaths

Trans Mountain gives contractors 30 days to get workers, supplies ready for pipeline

Crown corporation believes the expansion project could be in service by mid-2022

Rosemount cooked diced chicken linked to listeria case in B.C.

The symptoms of listeria include vomiting, nausea, fever, muscle aches

B.C. seniors allowed more choice to stay in assisted living

Province doesn’t need to wait for a complaint to investigate care, Adrian Dix says

Retired B.C. fisherman wins record $60M Lotto Max jackpot

Joseph Katalinic won the biggest Lotto Max prize ever awarded

New ‘Matrix’ film set with Keanu Reeves and Lana Wachowski

Fourth installment to feature Reeves as Neo and Carrie-Anne Moss as Trinity

Most Read