Dec 12 (Reuters) – Shares of cannabis companies jumped on Friday after the Washington Post reported U.S. President Donald Trump ‍is expected to push the government to dramatically loosen federal restrictions on marijuana.

U.S.-listed shares of Tilray Brands gained 28%, while SNDL, Canopy Growth and ETF AdvisorShares Pure US Cannabis were up ‌between 13.5% and 32.5% in premarket ‌trading.

According to the report from Thursday, Trump plans to direct agencies to reclassify marijuana as a Schedule III drug, reducing oversight of the plant and its derivatives to the same level as some common prescription painkillers and ‍other drugs.

“We believe this would open the door for pharmaceutical companies to seek approval for more cannabis products, ‍which could then be dispensed the same as other

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