Ex-Deutsche Bank executive launches cannabis company on Canada’s NEO Exchange

An American multi-state cannabis operator run by a former Deutsche Bank executive will make its public debut on the NEO Exchange Monday, making it the third U.S. cannabis company to go public on Canada’s newest stock exchange over the past month.

Jushi Holdings Inc., a relatively unknown cannabis producer and retailer operating across six U.S. states will begin trading on the NEO with a market cap of approximately $490 million — that’s less than a quarter of the average market value of the largest U.S. multi-state operators such as Acreage Holdings Inc, Harvest Health Recreation Inc., and Curaleaf Holdings Inc.

“We needed that liquid currency for potential future acquisitions,” said Erich Mauff, chief executive officer and founder of Jushi, in explaining why he chose to take his company public. “The regulatory burden is also much less onerous if you’re a public company as opposed to a private one,”

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