“Being added to the ETF provides a validation of Sundial’s positioning as a leading international cannabis company,” Sundial CFO Jim Keough said in a statement.
The Cannabis ETF tracks the Innovation Labs Cannabis Index, which is a modified market capitalization-weighted index, with a portfolio of 37 stocks that are expected to benefit from growth of the legal marijuana, CBD and hemp industries. The index rebalances on a monthly basis and it is currently considered the lowest cost passively managed US-listed cannabis ETF.
Sundial has facilities in Canada and the U.K. It grows ‘craft-at-scale’ cannabis using purpose-built modular facilities and genetics in Canada. The company’s flagship production facility is located in Olds, Alberta, with a second facility in Rocky View, Alberta. The company has started construction of its next purpose-built facility in Merritt, British Columbia.
Based in the U.K., Sundial grows traceable plants including hemp, ornamental flowers, and edible herbs in more than 1.5 million square feet of environmentally friendly indoor facilities. Bridge Farm has three facilities in Spalding with another currently under construction.