Trading in Green and Hill Industries (GHIL) was suspended by the SEC this morning prior to the market open. This is the twelfth suspension of a marijuana-related stock this year. Here is a list of marijuana stocks that have been suspended by the SEC this year: GHIL,SKTO, AEGY, WBXU,FRTD, FSPM, PHOT, CDFT, PTOG, AVNE, CBGI, and CANN. This suspension comes just four days after a cease trade order by the British Columbia Securities Commission
I blogged about the promotion of Green and Hill Industries back on June 4th. Trading will resume on GHIL at the market open on Tuesday, August 19th.
SEC trading suspension press release (PDF)
SEC trading suspension order (PDF)
The reasoning for the suspension was the standard boilerplate:
The Commission temporarily suspended trading in the securities of GHIL because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the company’s operations.
The Commission acknowledges FINRA’s assistance in this matter.