Tweed Marijuana became the first publicly traded medical marijuana company in Canada on Friday but they have already had a run in with police.
Photo Credit: Tweed
The Ontario based company invited police to inspect a shipment which they seized at the Kelowna International Airport. Although the company had received Health Canada’s approval to import the products, Mounties ended up taking it from them.
RCMP has refused to comment on the reason for the seizure stating that details would become available if charges are laid.
Tweed is one of 12 licensed manufactures in Canada and first started accepting customers in early February. The company had invited the RCMP to inspect the shipment on Monday as a sign of transparency.
@TweedInc (TWD) began trading on TSX Venture Exchange - welcome! #TSXV
— TMX Group (@TMXGroup) April 4, 2014
When the stock launched on TSX Friday shares rose to $2.52 at just after 2:00 p.m., up 183 per cent from the issue price of 89 cents based on private placement on March 7th.
Shares sank from an opening price of $5.10 at the start of public trading, but were the third most traded in Canada with 9.64 million shares changing hands.
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