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The Cannabis ETF (THCX) Rebalance Further Diversifies Portfolio

THCX Adds Companies Focused on CBD, Ancillary Services and Canadian Retail Market

NEW YORK (August 13, 2019) — Innovation Shares, a provider of thematic ETFs, announced it has completed the monthly rebalance of The Cannabis ETF (NYSE: THCX) and has added four companies to the portfolio: Valens GroWorks Inc. (TSXV: VGW), EnWave Corp. (TSXV: ENW), cbdMD Inc. (NYSE: YCBD) and Fire and Flower Holdings (TSX: FAF). Concurrently, three companies were removed from the portfolio: CannTrust Holdings (NYSE: CTST), Vivo Cannabis (TSXV: VIVO) and Innovative Industrial Properties (NYSE: IIPR).

“We are excited to expand THCX’s footprint in the various cannabis industry sub-themes by including three companies whose businesses revolve around ancillary services and CBD-based consumer products,” said Matt Markiewicz, Managing Director of Innovation Shares. “In particular, Valens, EnWave, and cbdMD all operate at the crossroads of science and technology which should appeal to investors who are looking for differentiated exposure outside of a traditional seed-to-sale story.”

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 36 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 ETF2.

THCX is the first and only U.S.-listed cannabis ETF to hold Valens GroWorks, EnWave Corp. and Fire and Flower Holdings3.

For more information on The Cannabis ETF please visit

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.

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1 Seaport Global Securities report (February 21, 2019)
2 The ETFMG Alternative Harvest ETF has a 0.75% management fee.
3 Based on August 13, 2019 company website data.