TerrAscend Corp (CSE: TER) is moving to be one of the first cannabis issuers on the Toronto Stock Exchange with operations in the United States. The firm this morning indicated it has applied to list on the TSX.
The proposed listing is said to be subject to an internal reorganization that must be implemented as a means of meeting minimum listing requirements. The reorganization, the details for which were not provided, remains subject to the approval of shareholders.
Details on the reorganization are expected to be revealed to shareholders via a proxy statement that has yet to be mailed or filed on Sedar for the firms annual general meeting.
Commenting on the matter, CEO Jason Wild offered little insight into what hoops the company would be going through to meet listing requirements on the TSX, instead stating, “While the United States regulatory environment continues to evolve, we are grateful for the leadership of the TSX, which provides issuers with sensible oversight and regulation in a complex sector to ensure investor protection and capital markets integrity.”
READ: Scotts Miracle-Gro Subsidiary Sues TerrAscend’s Jason Wild For Violating Federal Law
Wild was equally cryptic via a tweet this morning related to the up-listing.
A date for the firms annual general meeting has not yet been set.
TerrAscend last traded at $2.20 on the CSE.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
