NEW YORK, July 8, 2019 /PRNewswire/ -- Innovation Shares LLC, a sponsor of unique thematic exchange traded funds, announced today that it anticipates that The Cannabis ETF (THCX), the first passively managed pure-play ETF solution for investing in cannabis, will begin trading on the NYSE Arca on Tuesday, July 9.

THCX seeks to track the Innovation Labs Cannabis Index which is a portfolio of 35 stocks expected to benefit from growth of the hemp and legal marijuana industries.

"Our goal in launching THCX is to provide a low-cost and diversified vehicle to meet increasing investor appetite for cannabis-connected stocks," said Matt Markiewicz, Managing Director, Innovation Shares. "With the global cannabis market estimated to reach $630 billion by 2040 up from $12 billion today*, there is an exciting opportunity for investors to participate in this multi-decade growth story through the tax efficient structure of an ETF."

* Seaport Global Securities (February 21, 2019)

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.

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, LLC, Innovation Shares LLC, including their principals, and Capital Investment Group, Inc.

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SOURCE Innovation Shares LLC