The Green Organic Dutchman (TSX: TGOD) this morning provided an update on its departure from the Toronto Stock Exchange, which was initially announced at the end of August. The company has formally received final approval to commence trading on the Canadian Securities Exchange.
The move by the company to drop to a lower tier exchange follows the refocus of the firms operations to that of the US cannabis market. With cannabis still illegal at the federal level, public issuers with plant-touching operations stateside are effectively restricted to trade on either the CSE or the Neo Exchange, the only two exchanges that permit such operations.
“Our listing on the CSE allows the Company to accelerate its plans for entry into the U.S. market. We look forward to sharing our plans with investors as the opportunities advance,” commented Sean Bovingdon, CEO of TGOD, on the move.
While the company has not formally revealed any acquisition targets in the market, it can be reasonably assumed that it has been in discussions with certain operators as a result of the decision to transfer exchanges. The company has previously commented that it will focus on craft growers in particular.
The firms departure is set to take place today after the close of markets, with the company to trade on the CSE under the symbol “TGOD” as of market open on September 13.
The Green Organic Dutchman last traded at $0.175 on the TSX.
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.
