Marijuana multistate operator TerrAscend Corp. could become the first U.S. plant-touching company to list on the Toronto Stock Exchange by this summer if the restructuring plan it shared with shareholders and analysts wins TSX approval.
And if the company is successful, that potential could trickle down to other U.S. plant-touching cannabis operators, which have been barred from major exchanges because marijuana remains federally illegal in the United States.
Massachusetts-based Curaleaf Holdings, for example, has also had discussions with the TSX about the possibility of listing its shares.
Details have been scant since TerrAscend announced the plans last week, but the company’s executive team shared a few more specifics along with its financial results during a recent conference call with analysts.
The additional details included the timeline of the listing and how the TSX could boost the company’s financial health in the future by opening the door to institutional investors.
Shares of the company, which has offices in California, Pennsylvania and Ontario, Canada, currently trade on the Canadian Securities Exchange (TER) and on the over-the-counter markets (TRSSF).
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