NEW YORK, Aug. 8, 2019 /PRNewswire/ -- The Cannabis ETF (THCX), the first passively managed pure-play ETF solution for investing in cannabis, today announced an expansion of its strategic advisor team. Joining Jon and Pete Najarian, CNBC contributors, co-founders of Investitute and optionMONSTER, will be Stable Road Capital CIO, Brian Kabot, and healthcare and biotechnology entrepreneur, Neal Patel, Ph.D. We believe their collaborative industry knowledge and partnership expand THCX's presence in the cannabis investment marketplace while their leadership experience and insights add to the fund's already deep bench of cannabis experts.
"Over the years I've been drawn to investing in disruptive industries and I believe that cannabis is in the very early innings of what could prove to be a generational investment opportunity. THCX offers investors a solution for what they've been asking: a diversified, liquid and cost-efficient vehicle which best navigates the ever-changing landscape of the global green rush," said Jon Najarian, strategic advisor to The Cannabis ETF.
Brian Kabot has more than 19 years of principal investing experience on Wall Street. In July 2017, he accepted the position of Chief Investment Officer at Stable Road Capital, where he focuses on acquiring and investing in high quality operating businesses, assets and funds – specifically working in the cannabis investing space. Prior to that, he was a Founding Partner of Riverloft Capital, a cross cap structure, event-driven hedge fund.
Neal Patel, Ph.D., is a healthcare and biotechnology entrepreneur in the pharmaceutical and medical cannabis industries. Dr. Patel helped develop clinical protocols for pharma blue-chips such as Sanofi, Regeneron, Pfizer, Bayer AG, Novartis, and GlaxoSmithKline and has been instrumental in the FDA approval of 5 new molecules through his collaborations. Currently, Dr. Patel serves as Founder and Principal of Tendaji Ventures, an early stage incubator that initiates and maintains research partnerships between biotech and pharmaceutical companies looking to enter the medical cannabis arena. Patel is also a strategic investor for various healthcare companies that have recently devoted exploratory attention to cannabis-based science including PathogenDX and CannBioRx.
"The Najarian brothers have been renowned investors over the past three decades, and with the addition of both Dr. Patel and Brian Kabot, we have deepened our bench of cannabis experts. We are excited to add not only such a high level of institutional investment acumen but a brilliant scientific and medical perspective as well," said Matt Markiewicz, Managing Director, Innovation Shares. "In addition to providing ongoing counsel for Innovation Shares' strategic direction, our esteemed team of strategic advisors will help us leverage fresh perspectives in order to expand THCX's presence in investors' portfolios."
Currently listed on the NYSE Arca, THCX tracks the Innovation Labs Cannabis Index, a rules-based portfolio which rebalances on a monthly basis. The index consists of 35 stocks that are expected to benefit from the rise in value of the global cannabis market which is estimated to reach $630 billion by 20401. THCX's 70 bps management fee makes it the lowest-cost passively managed US-listed cannabis ETF.2
None of the strategic advisors to The Cannabis ETF have an affiliation to the Fund's Advisor, OBP Capital LLC.
Please visit THCXetf.com for more information.
About Innovation Shares LLC
Innovation Shares builds cutting-edge portfolios around growing and disruptive thematic investment trends. The true innovation behind its strategy is the AI powered natural language processing algorithm used to help identify sentiment around themes and relevant stocks.
1 Seaport Global Securities report (February 21, 2019)
2 The ETFMG Alternative Harvest ETF has a 0.75% management fee.
Investing involves risk, including possible loss of principal. ETF shares are bought and sold at market price, not net asset value (NAV), and are not individually redeemed from the Fund.
An investment in the Fund is subject to investment risks, including the possible loss of some or the entire principal amount invested. There can be no assurance that the Fund will be successful in meeting its investment objective. While the shares of the Fund are tradable on secondary markets, they may not trade in all market conditions and may trade at significant discounts in periods of market stress. ETFs trade like stocks, are subject to investment risks, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Companies involved in marijuana industry face intense competition, may have limited access to the services of banks, may have substantial burdens on company resources due to litigation, complaints or enforcement actions, and are heavily dependent on receiving necessary permits and authorizations to engage in medical marijuana research or to otherwise cultivate, possess, or distribute marijuana. Since the use of marijuana is illegal under United States federal law, federally regulated banking institutions may be unwilling to make financial services available to growers and sellers of marijuana. More information about these risks can be found in the Fund's prospectus.
An investor should consider the investment objectives, risks, and charges and expenses of the Fund before investing. The prospectus contains this and other information about the Fund. A copy of the prospectus is available at thcxetf.com or by calling Shareholder Services at 800-773-3863. The prospectus should be read carefully before investing. Current and future holdings are subject to change and risk.
The Cannabis ETF is distributed by Capital Investment Group, Inc., Member FINRA/SIPC, 100 E. Six Forks Road, Suite 200, Raleigh, North Carolina 27609. There is no affiliation between OBP Capital, LLC, Merlin Asset Management, LLF, Innovation Shares LLC, including their principals, and Capital Investment Group, Inc.
SOURCE Innovation Shares LLC