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

Unsightly premises fees added to County of Wetaskiwin tax bill

Property owner cannot be located, so contractor cleaned yard

Alberta RCMP reminds Albertans how to be ‘egg-stra’ safe this Easter

Put away phone while driving, plan for a designated driver

Wetaskiwin’s Leaders of Tomorrow honoured Apr. 8

Four youth impress the Wetaskiwin community

UPDATED Maskwacis-Wetaskiwin winner Wilson says Alberta wanted change

UPDATED Both Rick Wilson and Mark Smith had no trouble Apr. 16 with opposing parties

Kenney talks pipelines with Trudeau after election win, calls it cordial

Almost a year ago Kenney dismissed Trudeau as a dilettante and a lightweight

‘Open for business:’ Jason Kenney’s UCP wins majority in Alberta election

The UCP was leading or elected in 63 of 87 seats Tuesday night

Kirkland Signature veggie burgers recalled due to possible metal fragments

Recalled products came in 1.7 kg packages with a best before date of Apr. 23, 2019

Parents of 13 who tortured children get life after hearing victims

One of their daughters fled their home and pleaded for help to a 911 operator

Flooding, climate change force Quebecers to rethink relationship with water

Compensation for victims of recurring floods limit to 50% of a home’s value, or a maximum of $100,000

Storms blast South, where tornadoes threaten several states

9.7 million people in the Carolinas and Virginia at a moderate risk of severe weather

Private cargo ship brings Easter feast to the space station

There are three Americans two Russians and one Canadian living on the space station

Notre Dame rector: “Computer glitch” possible fire culprit

The fire burned through the lattice of oak beams supporting the monument’s vaulted stone ceiling

Undercover cops don’t need warrant to email, text suspected child lurers: court

High court decision came Thursday in the case of Sean Patrick Mills of Newfoundland

VIDEO: Trump tried to seize control of Mueller probe, report says

Special counsel Robert Mueller’s report revealed to a waiting nation Thursday

Most Read