In a move to accelerate its entry into the US market, The Green Organic Dutchman Holdings (TSX: TGOD) declared today that it has obtained conditional approval on its previously announced plan to list its common shares and warrants on the Canadian Securities Exchange. Following this, the company has also started its application to delist its securities from the Toronto Stock Exchange.
“We will look to partner with entities that can build on our halo and benefit from our experience and intellectual property, while allowing for synergies to make any agreement accretive in the short term and long term,” said the company’s CEO Sean Bovingdon. “There are about 1,600 craft growers in the U.S. in the Clean Green Directory, which we feel could benefit from our CleanCraftTM growing process and capabilities.”
The company’s management believes that the CSE listing will be beneficial due to reduced filing fees and obligations. The shift in the stock exchanges will also push forward the plan to enter the US market, preluded by initial discussions with “approximately half a dozen groups in the U.S.”
The firm’s voluntary delisting from the TSX is subject to the big board’s approval and the final approval of the CSE listing, which the company is currently working on to secure. If everything goes without a hitch, it is expected that the common shares and warrants will be delisted from TSX on September 10 and will be available for trading on the CSE on September 13, 2021.
Yesterday, the cannabis firm announced that it has shipped to South Africa the country’s first legally distributed cannabis flower.
The Green Organic Dutchman last traded at $0.285 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.