AdvisorShares Announces Partnership with CB1 Capital Management on US Cannabis Initiatives
AdvisorShares, a leading sponsor of actively managed exchange-traded funds (ETFs), today announced that it has formed a strategic partnership with CB1 Capital Management LLC, a New York-based investment management firm that specializes in health and wellness advancements through cannabinoids. CB1 Capital invests in companies that work within the supply chain of cannabinoid-based wellness solutions, products and therapies that have consumer or commercial use-cases. As a strategic partner to AdvisorShares, CB1 Capital will provide research on U.S. cannabis companies, collaborate on education and philanthropic initiatives, and serve as a public advocate on the vast benefits of cannabis innovation.
AdvisorShares recently announced the launch of the AdvisorShares Pure US Cannabis ETF (Ticker: MSOS), which is the first U.S.-listed active ETF to deliver exposure dedicated solely to American cannabis companies, including multi-state operators (MSOs). MSOs are U.S. companies directly involved in the legal production and distribution of cannabis in states where approved. MSOS became AdvisorShares second dedicated cannabis investment strategy alongside the AdvisorShares Pure Cannabis ETF (Ticker: YOLO), which invests in both domestic and foreign cannabis equity securities.
“We’re pleased to form this partnership with CB1 Capital and harness their tremendous knowledge, resources and industry expertise,” said Noah Hamman, chief executive officer of AdvisorShares. “We believe our complementary missions of elevating awareness and education will benefit not only our ETF shareholders but all investors seeking to gain a better understanding of the immense capabilities and upside potential of the U.S. cannabis market.”
Todd Harrison, chief investment officer of CB1 Capital Management, said “We support AdvisorShares mission to democratize the U.S. cannabis marketplace and look forward to working with their team to help develop and support initiatives aimed to inform and educate investors.”