Canadian cannabis company Aleafia Health Inc (OTCQX:ALEAF) has been welcomed into Horizons Marijuana Life Sciences exchanged traded fund.
The ETF looks to replicate the North American Marijuana Index, offering investors exposure to publicly-listed North American life sciences with dealings in the marijuana market.
Shares of Aleafia jumped more than 9% to US$1.58 in Friday morning trading.
READ: Cronos Group partners with Aleafia Health to work on medical cannabis study to treat insomnia
The Vancouver-based company recently teamed up with Cronos Group (NASDAQ:CRON, TSX:CRON) to study the effects of medical cannabis on insomnia.
“Aleafia now boasts two modern cannabis production facilities, along with a medical cannabis clinic network that has attained 50,000 unique patients,” said Aleafia CEO Geoffrey Benic in the company’s press release.
The company is retrofitting a 160,000 square foot Niagara greenhouse and expects to have the work completed by the end of the year. It also has plans to expand its 150,000 square foot facility in Port Perry, Ontario.
Aleafia expects to reach an annual growing capacity of 38,000 kg of cannabis flower in 2019.
Fellow Canadian cannabis company Namaste Technologies Inc (CVE:N, OTCQB:NXTTF) was also recently added to the ETF.