Cannabis company TerrAscend Corp. has applied for a listing on the Toronto Stock Exchange, which would be the first major stock-market membership for a US multistate operator.
Cannabis company TerrAscend Corp. has applied for a listing on the Toronto Stock Exchange, which would be the first major stock-market membership for a U.S. multistate operator.
MSOs thus far have listed their shares over-the-counter or on smaller exchanges such as the Canadian Securities Exchange, but TerrAscend, based in Mississauga, Ontario, is trying to change that. The company will seek shareholder approval for a reorganization in an effort to meet TSX listing requirements, TerrAscend said in a statement Tuesday, with details to come next month.
TerrAscend shares are up 41 per cent so far this year but plunged 82 per cent last year, joining much of the cannabis industry in tumbling as investors lost patience with the lack of movement toward U.S. federal legalization. A legislative effort to give legal pot companies access to the federal banking system, known as the SAFE Banking Act, failed to advance in Congress late last year, which Wild called a “huge disappointment.
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