The firm is to be included in the CSE25 Index which consists of the 25 largest companies in the CSE Composite Index by market cap.

The CSE25 Index contains over 52.75% of the total weight of the composite index

Recreational cannabis-focused group Friday Night Inc (CSE:TGIF, OTCQB:TGIFF) has reached another milestone.

On Tuesday, it told investors it was to be included in the CSE25 Index which consists of the 25 largest companies in the Canadian Securities Exchange (CSE) Composite Index by market cap.

"We are very proud to be recognized as one of the 25 largest companies on the CSE by market capitalization," said Brayden Sutton, the chief executive of TGIF.

The inclusion on the CSE25 Index not only distinguishes our company as a highly liquid issuer but gives validation to our business strategy and recognizes our impressive growth over the last 9 months of trading," said Brayden Sutton, the chief executive.

The CSE25 Index is a subset of the CSE composite index and contains over 52.75% of the total weight of the composite index.

Friday Night has a market cap of around C$147mln.

Richard Carleton, the chief executive of the CSE, added: "As the exchange has grown rapidly in terms of trading volumes and market capitalization it is appropriate that we give market participants a benchmark that monitors the performance of our largest and most liquid issues.

"As the 'exchange for entrepreneurs' we are proud of their success in the Canadian capital markets."

Earlier this month, the firm said it had appointed Andy Richards, the chief executive of Spire Secure Logistics, as director, after the group announced the acquisition of Spire the month before.

Spire specialises in security and has expertise in the cannabis industry.

It is led by experts with international backgrounds in covert and undercover operations to infiltrate and disrupt organised crime, including outlaw motorcycle gangs, cartels and other violent gangs.

Shares in Friday Night In Toronto added 1.45% to C$0.70 each.