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Feb 1, 2019

Weekend Unlimited stock doubles after winning POT symbol lottery

BNN Bloomberg's commodities update: Feb. 1, 2019

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Weekend Unlimited Inc. (YOLO.CD) is about to trade one standout ticker symbol for another.

The Vancouver-based aggregator of cannabis industry brands, which trades on the Canadian Securities Exchange, announced early Friday it won this week's lottery for the POT symbol. Its current symbol is YOLO.

Canada's major stock exchanges banded together to randomly select the symbol's new holder. They said there was "significant interest" from companies eager to get their hands on the symbol previously held by Potash Corporation of Saskatchewan Inc. prior to its merger with Agrium Inc.

"Weekend Unlimited is thrilled to add the iconic POT trading symbol to its identity," said its president and CEO, Paul Chu, in a release.

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A screen grab of Weekend Unlimited's website on Feb. 1.

"As a fast-growing multi-state operator, Weekend Unlimited is developing lifestyle brands around recreational and wellness to help define the future of the cannabis industry. The POT symbol is a tremendous fit with our brand identity."

Shares of Weekend Unlimited surged 134.78 per cent on Friday, ending the day at 27 cents. 

The company said it expects to start trading under the POT symbol on Feb. 4.

Cannabis Canada is BNN Bloomberg’s in-depth series exploring the stunning formation of the entirely new – and controversial – Canadian recreational marijuana industry. Read more from the special series here and subscribe to our Cannabis Canada newsletter to have the latest marijuana news delivered directly to your inbox every day.

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