Dec 12 — 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 35%, while SNDL, Canopy Growth and ETF AdvisorShares Pure US Cannabis were up between 20% and 31% in morning trading.

Trump is expected to issue an executive order as soon as Monday that would allow for reclassification of weed, CNBC reported, citing a source familiar with the matter.

“No final decisions have been made on the rescheduling of marijuana,” a White House official said.

Trump plans to direct agencies to reclassify marijuana as a Schedule III drug, the Washington Post reported on Thursday, reducing oversight of the plant and

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