Ascenta Finance Corp., a Vancouver-based exempt-market dealer, announced on Tuesday that it’s launching Bay Street Cannabis, an equity crowdfunding portal focusing on the cannabis sector.

Earlier this year, new rules took effect in several provinces allowing small firms to raise funds from retail investors through crowdfunding portals, subject to investment limits and other conditions. Portals are required to carry out some due diligence on the firms and to act as gatekeepers.

The new portal aims to provide legal cannabis-related businesses with a venue to raise capital via crowdfunding.